JAMB Commerce Past Questions & Answers - Page 231

1,151.

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

A.

Policy with Particular Average

B.

Policy Free of Particular Average

C.

Marine Freight Insurance

D.

Marine Voyage Policy Insurance

Correct answer is D

No explanation has been provided for this answer.

1,152.

The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called

A.

subrogation

B.

contribution

C.

re-insurance

D.

indemnity

Correct answer is C

No explanation has been provided for this answer.

1,153.

The main advantage of road transport is that it is

A.

convenient and flexible

B.

cheap and direct

C.

common and fast

D.

safe and available

Correct answer is A

No explanation has been provided for this answer.

1,154.

Spot market goods are those which are available for

A.

immidiate delivery

B.

short-term delivery

C.

long-term delivery

D.

end of the delivery

Correct answer is A

No explanation has been provided for this answer.

1,155.

Freight note is a document

A.

used by government to transport goods from one country to another

B.

issued by a shipping company giving details of charges

C.

used for payment for imported goods

D.

given by an importer to pay for goods at a future period

Correct answer is B

No explanation has been provided for this answer.