2011 - JAMB Commerce Past Questions and Answers - page 2
11
Balance of payment problems arise if a country's?
A
exports is more than imports
B
imports is more than exports
C
currency devaluation
D
invisible exports is more than visible exports
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12
The three components of a country's balance of payments are?
A
current account, capital account and monetary movement account
B
capital account, trade account and business record
C
sales account, profit and loss account and capital account
D
monetary movement account, trade account and sales ledger
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13
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
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14
The document which can be exchange for a bill of lading is?
A
freight note
B
mate receipt
C
export invoice
D
ship report
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15
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
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16
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
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17
The most effective nut limited medium of advertising in Nigeria is?
A
billboard
B
television
C
newspaper
D
radio
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18
A cheque that has been drawn but not presented for payment can still be honored?
A
wintin 6 months
B
after 9 months
C
within 9 months
D
after 6 months
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19
The major source of income to commercial banks is?
A
tourism
B
banking
C
communication
D
transportation
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20
Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that?
A
the loss should be borne by the insurer
B
Mr. Lawal is liable only for half of the estimated loss
C
the insurer should make a consolation payment for the loss
D
the loss should be borne by Mr. Lawal
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