passwella.
Menu

JAMB Commerce 2017 past questions and answers

3 questions. Try each one, then open the answer to check yourself and read the explanation.

Question 3

Insurance

The insurance policy which provides full cover against all risks at sea is known as

  1. A.marine voyage policy
  2. B.marine freight insurance
  3. C.policy free of particular average
  4. D.policy with particular average
Show the answer and explanation

Answer: D (policy with particular average)

Explanation

A policy 'with particular average' covers both total and partial losses at sea, so it gives the fullest cover. A voyage policy only describes the period (one voyage), not the extent of cover.

Open this question

Question 33

Communication

The type of letters that are delivered through the normal mail or by airmail express service is referred to as

  1. A.airmail letters
  2. B.inland letters
  3. C.registered letters
  4. D.express letters.
Show the answer and explanation

Answer: A (airmail letters)

Explanation

Letters sent overseas by air through the normal mail or the airmail express service are airmail letters.

Open this question

Question 34

Business Units

A business organization that exploits the capabilities of a member to remedy the weaknesses of another is a

  1. A.cooperative
  2. B.joint venture
  3. C.partnership
  4. D.nominal partnership.
Show the answer and explanation

Answer: B (joint venture)

Explanation

In a joint venture, firms combine so that the strengths of one partner (e.g. technology) make up for the weaknesses of another (e.g. capital or local knowledge).

Open this question