Trade - Jamb Commerce Past Questions and Answers

Question 41:

• JAMB 1998

When a price is quoted at F.O.B. it means that the price?

A. Excludes loading charges incurred in bringing the goods to port of destinction
B. Exclude all necessary shipping charges payable for insurrance
C. Includes all charges payable on shipping a consignment to the port destination
D. Includes charges payable for for loading goods onto the ship

Question 42:

• JAMB 1998

The reduction of import duties among the members countries of ECOWAS is an example of

A. Preference duties
B. Preferential treatment
C. Preferential tariff
D. Preferential excise

Question 43:

• JAMB 1998

In a common market, member countries agree basically to

A. Place bans on the other countries’ product
B. Wage war against other countries’ product
C. Establish common barriers against countries outside the market
D. Negotiate with countries outside the market for favourable terms of trade .

Question 44:

• JAMB 1999

The main document sent to an importer of goods by the exporter are?

A. Invoice, consular invoice, certificate of orign, fright note, indent and insurance policy
B. Indent, bill of lading, certificate of orign, invoice and bill of exchange
C. Certificate of orign, bill of exchange, insurance policy, indent and bill of lading
D. Bill of lading, invoice insurance policy, consular invoice, certificate of orign and bill of exchange

Question 45:

• 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