by Sunday | Dec 13 | Commerce JAMB
A. capital B. enterpreneur C. labour D. land Correct Answer: Option C – labour Explanation Labour is motivated by paying wages and salaries
by Sunday | Dec 13 | Commerce JAMB
A. blacksmithing B. bricklaying C. car assembling D. shoemaking Correct Answer: Option C – car assembling
by Sunday | Dec 13 | Commerce JAMB
A. improve the standard of living B. generate revenue for growth and development C. encourage cooperation among public organisations D. encourage the development of socio-cultural values Correct Answer: Option B – generate revenue for growth and...
by Sunday | Dec 13 | Commerce JAMB
A. Indemnity B. Insurable interest C. Uberrimae fidei D. Subrogation Correct Answer: Option C – Uberrimae fidei Explanation Uberrimae fidei means utmost good faith. This is an insurance principle used in insurance contracts, legally obliging all parties...
by Sunday | Dec 13 | Commerce JAMB
A. N 5000 B. N 7, 500 C. N 70, 000 D. N 75, 000 Correct Answer: Option B – N 7, 500 Explanation Average clause: A clause in a policy requiring that, where assets are insured for less than their full value, the insured is required to bear a proportion of any...
by Sunday | Dec 13 | Commerce JAMB
A. cover for exporters against risks B. cover for importers against risks C. full payment to the insured D. consolation payment to the insured Correct Answer: Option D – consolation payment to the insured Explanation Non-indemnity insurance tends to cover things...