Commerce 2009 Jamb Examination

FOB (Free on Board) means that the seller covers the cost of goods and loading onto the ship, but not insurance or freight. Therefore the correct option is B.

12.5% of N50,000 = N6,250. Amount payable = 50,000 - 6,250 = N43,750. Therefore the correct option is B.

A cheque drawn by a bank on its own funds and guaranteed is called a bank draft or cashier's cheque. Therefore the correct option is A.

Billboards and posters are large outdoor displays used in advertising. Therefore the correct option is C.

An exhibition is an organized presentation and display of a selection of items by companies to showcase and demonstrate their new products and services.

One major facility given to current account holders is overdraft, which allows them to withdraw more than their deposit. Therefore the correct option is C.

The unique function of the central bank is issuing the nation's currency, which commercial banks cannot do. Therefore the correct option is C.

In telegrams, the cost is calculated based on the number of words used. Therefore the correct option is B.

International telephone transmission is made possible by communication satellites. Therefore the correct option is A.

Subrogation allows the insurer to step into the shoes of the insured after compensation has been paid, to recover any claims or benefits. Therefore the correct option is B.