Purchase and Sale of Goods - Jamb Commerce Past Questions and Answers

Question 41:

• JAMB 2011

A document that indicates obligation that is transferable by delivery and endorsement is a?

A. Bill of lading
B. Bill of exchange
C. Documentary evidence
D. Negotiable instrument

Question 42:

• JAMB 2011

The document which can be exchange for a bill of lading is?

A. Freight note
B. Mate receipt
C. Export invoice
D. Ship report

Question 43:

• JAMB 2011

The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is?

A. Free Alongside Ship
B. Franco
C. Free On Board
D. Free On Rail

Question 44:

• JAMB 2011

The purchase of goods under the CWO system of payment implies that?

A. Money must be enclosed when ordering
B. Payment must be made on delivery
C. Payment must be made within few days
D. Cash must be paid on the spot

Question 45:

• JAMB 2012

The document a seller uses in dispatching goods to a customer by a carrier is

A. A bill of landing
B. An invoice
C. An advice note
D. A delivery note