JAMB Commerce Past Questions & Answers - Page 212

1,056.

The assets, liabilities and general management of a distressed bank may be taken over by?

A.

International Bank for Reconstruction and development

B.

Nigeria Industrial Development Bank

C.

Nigeria Banks Deposit Insurance corporation

D.

Nigeria Bank for Commerce and Industry

Correct answer is C

No explanation has been provided for this answer.

1,057.

The most important difference between community banks and peoples’ bank is that the?

A.

latter is owned solely by government while the former are not

B.

former cater for ruler dwellers while the latter cater for both rural and urban dwellers

C.

former are service oriented while the latter are profit oriented

D.

latter advances loans to the public while former advance loans to the rural dwellers only.

Correct answer is A

No explanation has been provided for this answer.

1,058.

Insurance companies operate on the principal of indemnity. This means that an insured person or firm collector

A.

Only half of the loss suffered

B.

double the value of the losses suffered

C.

the total sum of the premium paid prior to the loss

D.

damage claims equal to the loss suffered.

Correct answer is D

No explanation has been provided for this answer.

1,059.

the two main categories under which marine losses fall into are?

A.

particular loss and average loss

B.

actual loss and average loss

C.

total loss and partial loss

D.

voyage policy loss and time policy loss

Correct answer is C

No explanation has been provided for this answer.

1,060.

The document with which a manufacturing enterprises releases stock
Of raw materials to the factory for product is called?

A.

stock releases form

B.

goods received note

C.

stock issues voucher

D.

materials release note

Correct answer is C

No explanation has been provided for this answer.