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Commerce Past Questions and Answers

Commerce Questions

Question 186:
The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called
  • A Subrogation
  • B Contribution
  • C Re-insurance
  • D Indemnity
View Answer & Explanation
Question 187:
The insurance policy which provides full cover against all risks at sea is known as
  • A Policy with Particular Average
  • B Policy Free of Particular Average
  • C Marine Freight Insurance
  • D Marine Voyage Policy Insurance
View Answer & Explanation
Question 188:
Berne union is also known as
  • A International Credit Union
  • B International Documentry Credit
  • C International Union of Credit and Investment Insurers
  • D Export Credit Guarantee Scheme
View Answer & Explanation
Question 189:
which of the following sets of items was used for exchange in Nigeria before money was introduced?
  • A Cowries, iron rods, brass rods and copper rods
  • B Iron rods, copper rods, manilla and cowries
  • C Cowries, manilla, brass rod andcopper wires
  • D Copper wires, brass wires, cowries and iron rod
View Answer & Explanation
Question 190:
A major liability of a commercial bank arises from
  • A Customers' deposits
  • B Loans and advances
  • C Overdrafts
  • D Staff allowance
View Answer & Explanation