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Saturday, 11 April 2026
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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 21:
Which of the following document permit an importer to inspect his goods before the arrival of the bill of lading?
  • A Bill of sight
  • B Import invoice
  • C Consular invoice
  • D Bill of exchange
View Answer & Explanation
Question 22:
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
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Question 23:
A distinction between Comprehensive insurance and Thrid party Insurance is that the latter covers damages
  • A Caused by the insured vehicle
  • B To the insured vehicle
  • C Cause by the other vehicle
  • D To the driver of insured vehicle
View Answer & Explanation
Question 24:
The rate at which a central bank discount first class bills is called the
  • A Fixed rate
  • B Bill rate
  • C Bank rate
  • D Interest rate
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Question 25:
The principle of subrogation states that
  • A An insured person should be indemnifed to the tune of the amount insured
  • B An insurance company can stand in place of the insured in dealing with third party
  • C Oly a person who is likely to sufferrd loss should take take out an insurance cover
  • D Ther must be a close connection between the actual loss suffered and risk insured
View Answer & Explanation