by Sunday | Dec 12 | Commerce JAMB
A. establish a monopoly B. provide essential services C. provide employment opportunities D. encourage specialization Correct Answer: Option B – provide essential services Explanation Public corporations are established to provide essential services such as...
by Sunday | Dec 12 | Commerce JAMB
A. caveat emptor B. uberrimae fidei C. demurrage D. jettison Correct Answer: D – jettison Explanation Jettison: throw or drop (something) from an aircraft or ship. If a boat is leaking or an airplane is running out of fuel, you can buy more time by jettisoning...
by Sunday | Dec 12 | Commerce JAMB
A. rail B. road C. sea D. air Correct Answer: Option B – road
by Sunday | Dec 12 | Commerce JAMB
A. an insurance company B. a trade association C. the bank D. an advertising agency Correct Answer: Option A – an insurance company Explanation Contact your insurance company right away and ask them what to do first. There are companies that specialize in...
by Sunday | Dec 12 | Commerce JAMB
A. indemnity B. proximate cause C. utmost good faith D. subrogation Correct Answer: Option D – subrogation Explanation In the event of an insurance claim, “subrogation” refers to the process by which your insurance company collects money from the party at fault...
by Sunday | Dec 12 | Commerce JAMB
A. subrogation B. proximate cause C. uberrimae fidei D. contribution Correct Answer: Option C – uberrimae fidei Explanation Uberrimae fidei is a Latin phrase meaning “utmost good faith; The principle means that every person who enters into a contract of...