Jamb 1997 Commerce Past Questions And Answers
1
Bank giro is a system where?
- A. commercial banks can give loan to all customers
- B. a central bank opens account for commercial banks
- C. a customer uses cheque to pay serveral bills
- D. a customer closes his account by writting cheque
2
One of the criteria for differentiating consumers markets from industrial ones is the
- A. type of demand
- B. type of supply
- C. nature of the services rendered
- D. price of the goods
3
Commercial banks are referred to as departmental stores of banking because they
- A. have many branches
- B. have many customers
- C. are found in the cities
- D. offer many types of services
4
The main advantage of using cinema as an advertising medium is that it is
- A. cheap
- B. accurate
- C. accessible
- D. informative
5
The main purpose of insurance is to
- A. encourage business to survive and grow
- B. ensures that facilities are available for operators
- C. accepts risk s and extend credit to policy holders
- D. spread individual losses over all covered participants
6
A markets where new shares are trade is known
- A. primary market
- B. stock exchange
- C. secondary markets
- D. money market
7
Transport, retailing and wholesaling industries rely heavily on
- A. banking
- B. insurance
- C. manufacturing
- D. railway
8
The process of creating more for a product is called?
- A. advertising
- B. marketing
- C. promotion
- D. consumerism
9
In foreign trade, document of title is known as
- A. bill of lading
- B. bill at sight
- C. certifiate of origin
- D. declaration form
10
When it became necessary to liquidate a company, the frist step to be taken is the appointment of
- A. a receiver
- B. an auditor
- C. an accountant
- D. liquidator