Procedures and documents used in export, import, and entreport trade - Jamb Commerce Past Questions and Answers

Question 1:

• JAMB 1994

Commerce is defined as the study of how

A. Man utilizes the resources in his physical environment
B. Man produces, distributes and consumes his goods and services
C. Man buys, sells and distributes goods and services
D. Raw materials are changed into finished goods

Question 2:

• JAMB 2019

A fall in the value of a country's currency vis-a-vis other currencies is known as__________

A. Depreciation
B. Reduction
C. Devaluation
D. Exchange rate

Question 3:

• JAMB 2019

Which of these is a document used in International trade?

A. Debit note
B. Credit note
C. Invoice
D. Price ring

Question 4:

• JAMB 1995

Freight note is a document

A. Used by government to transport goods from one country to another
B. Issued by a shipping company giving details of charges
C. Used for payment for imported goods
D. Given by an importer to pay for goods at a future period

Question 5:

• JAMB 1997

In foreign trade, document of title is known as

A. Bill of lading
B. Bill at sight
C. Certifiate of origin
D. Declaration form