JAMB and WAEC Commerce questions

611 questions with answers and explanations. Tap an option to check yourself.

All topics Advertising and marketing · 32 Business management and environment · 32 Commerce and its scope · 31 Communication · 33 Computers and ICT in business · 29 Consumer protection · 30 Documents used in trade · 34 Elements of commercial law · 31 Financing a business · 32 Foreign trade · 40 Forms of business organisation · 40 Home trade: retail and wholesale · 40 Insurance · 39 Money and banking · 40 Occupation and production · 33 The stock exchange · 34 Transport · 33 Warehousing · 28

Question 401· Home trade: retail and wholesale· WAEC
Breaking bulk is a function of the
Explanation and discussion
Question 402· Home trade: retail and wholesale· JAMB
Which of these is a function of the wholesaler to the manufacturer?
Explanation and discussion
Question 403· Home trade: retail and wholesale· JAMB
A franchise is an arrangement in which
Explanation and discussion
Question 404· Home trade: retail and wholesale· WAEC
A drawback of hire purchase to the buyer is that
Explanation and discussion
Question 405· Insurance· JAMB
The document setting out the terms of an insurance contract is the
Explanation and discussion
Question 406· Insurance· WAEC
The amount paid regularly for an insurance policy is the
Explanation and discussion
Question 407· Insurance· WAEC
After compensating a client, the insurer takes over the client's rights against a third party. This is
Explanation and discussion
Question 408· Insurance· JAMB
Proximate cause in insurance means
Explanation and discussion
Question 409· Insurance· JAMB
Marine insurance covers
Explanation and discussion
Question 410· Insurance· JAMB
Insurable interest means the insured
Explanation and discussion
Question 411· Insurance· WAEC
The principle that prevents an insured person from making a profit from a loss is
Explanation and discussion
Question 412· Insurance· WAEC
Life assurance differs from insurance because
Explanation and discussion
Question 413· Insurance· WAEC
The principle that the insured must disclose all material facts is
Explanation and discussion
Question 414· Insurance· JAMB
Mr Ade insured his shop for ₦600,000 with Company X and for ₦400,000 with Company Y. A fire causes a loss of ₦500,000. Under the principle of contribution, Company Y pays
Explanation and discussion
Question 415· Insurance· WAEC
The principle that requires the person seeking insurance to disclose all material facts is
Explanation and discussion
Question 416· Insurance· JAMB
Reinsurance means
Explanation and discussion
Question 417· Insurance· WAEC
Which of these risks cannot be insured?
Explanation and discussion
Question 418· Insurance· JAMB
The principle that the insured must stand to lose financially if the insured item is damaged is
Explanation and discussion
Question 419· Insurance· JAMB
A cover note is
Explanation and discussion
Question 420· Insurance· WAEC
After paying a claim, an insurer takes over the insured's rights against a third party. This is
Explanation and discussion

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JAMB and WAEC Commerce questions

Breaking bulk is a function of the

Which of these is a function of the wholesaler to the manufacturer?

A franchise is an arrangement in which

A drawback of hire purchase to the buyer is that

The document setting out the terms of an insurance contract is the

The amount paid regularly for an insurance policy is the

After compensating a client, the insurer takes over the client's rights against a third party. This is

Proximate cause in insurance means

Marine insurance covers

Insurable interest means the insured

The principle that prevents an insured person from making a profit from a loss is

Life assurance differs from insurance because

The principle that the insured must disclose all material facts is

Mr Ade insured his shop for ₦600,000 with Company X and for ₦400,000 with Company Y. A fire causes a loss of ₦500,000. Under the principle of contribution, Company Y pays

The principle that requires the person seeking insurance to disclose all material facts is

Reinsurance means

Which of these risks cannot be insured?

The principle that the insured must stand to lose financially if the insured item is damaged is

A cover note is

After paying a claim, an insurer takes over the insured's rights against a third party. This is