JAMB Commerce Past Questions & Answers - Page 125

621.

One of the functions of the Nigeria Ports Authority is the provision of?

A.

facilities to enhance the speedy loading and offloading of cargoes

B.

facilities to ensure that goods get to their destinations

C.

shelter for operators of cargoes

D.

courier services to ensure speedy delivery

Correct answer is A

The statutory duties and functions include

  • Develop, own and operate ports and harbors

  • Provide a safe and navigable channel
  • Offer cargo handling and storage services
  • Maintain Port facilities and equipment
  • Ensure safety and security
  • Develop and own property

622.

An agreement by the insurer to compensate the insured for losses suffered is?

A.

policy

B.

surrender value

C.

caveat emptor

D.

indemnity

Correct answer is D

Indemnity in insurance refers to an insurance policy that compensates an insured party for certain unexpected damages or losses up to a certain amount

623.

The first stage in tourism planing is?

A.

assessing feedback from tourists

B.

preparing a list of tourists

C.

creating recreational opportunities

D.

building community support

Correct answer is B

No explanation has been provided for this answer.

624.

An economic activity which deals with natural resources is a form of?

A.

extraction

B.

refining

C.

construction

D.

manufacturing

Correct answer is A

Extraction involves taking raw materials, including oil, coal, gold, iron, copper, and other minerals, from the earth. People engaged in this type of activity are grouped under the extractive industry.

625.

A major criticism of a cooperative society is?

A.

limited capital

B.

granting exceessive loans to members

C.

selling goods on credit to non-members

D.

management incompetence

Correct answer is D

No explanation has been provided for this answer.