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Commerce Past Questions and Answers

Jamb Commerce Questions

Question 21:
The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is?
  • A Contribution
  • B Subrogation
  • C Promiate cause
  • D Utmost good faith
View Answer & Explanation
Question 22:
A risk that can be estimated and calculated to be compensation is?
  • A A delivery risk
  • B An insurable risk
  • C A credit risk
  • D A systematic risk
View Answer & Explanation
Question 23:
The most important reason for the existence of insurance business is to?
  • A Prevent the occurrence of any loss
  • B Spread losses to all covered participants
  • C Provide for the replacement of facilities
  • D Encourage individuals to save
View Answer & Explanation
Question 24:
One major advantage of transportation to a business is to?
  • A Extend the firm's market coverage
  • B Ensure that goods are produced faster
  • C Procure raw materials cheaply
  • D Ensure the quality of products
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Question 25:
Warehousing is important to manufacturers because it helps to?
  • A Improve the quality of goods
  • B Produce goods in advance
  • C Meet the demand of customers
  • D Determine input rquirements
View Answer & Explanation