Jamb Commerce Past Questions and Answers

Question 351:

• JAMB 1999

The document that indicate instant payment of cash for goods whenever the are delivered is

A. Credit note
B. Proforma invoice
C. Debit note
D. Statement of account

Question 352:

• JAMB 1999

Which of the following document permit an importer to inspect his goods before the arrival of the bill of lading?

A. Bill of sight
B. Import invoice
C. Consular invoice
D. Bill of exchange

Question 353:

• JAMB 1999

The overriding advantage of home trade over foreign trade is

A. Accessibility of seller to buyer
B. Absence of many documents
C. Ease in language of transaction
D. Ease in form of payment

Question 354:

• JAMB 1999

A distinction between Comprehensive insurance and Thrid party Insurance is that the latter covers damages

A. Caused by the insured vehicle
B. To the insured vehicle
C. Cause by the other vehicle
D. To the driver of insured vehicle

Question 355:

• JAMB 1999

The rate at which a central bank discount first class bills is called the

A. Fixed rate
B. Bill rate
C. Bank rate
D. Interest rate