Commerce 2011 Jamb Examination
Question 21
Reinsurance allows insurers to spread risks by sharing them with other insurers.
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Question 22
Inbound tourism occurs when?
Inbound tourism is when a person from his/her home country travels to another country for not less than 24 hours and not more than few months. The purpose of the travel is mostly leisure and very seldom for business.
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Question 23
Pipeline transport is limited in scope since it can only carry specific products (e.g. oil, gas, water).
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Question 24
A sole proprietorship combines ownership, control, and management in one person.
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Question 25
A consortium is a temporary collaboration of companies to undertake a large project together.
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Question 26
In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the?
What is a Liquidator? A liquidator or an official receiver manages the entire liquidation process. He or she is appointed when a company goes into liquidation or is wound up by the Court in a compulsory liquidation process, which is brought about by a disgruntled creditor. In a voluntary liquidation, the board of directors appoint a liquidator
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Question 27
A mortgage involves pledging a specific asset (usually land/building) as security for a loan.
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Question 28
An example of a trade association is?
ALGON: stands for "Association of Local Government of Nigeria" and represents the interests of local government councils in the country, making it a typical example of a trade association.
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Question 29
Brokers connect investors with companies quoted on the stock exchange.
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Question 30
The Second-Tier Securities Market is less restricted to encourage small and medium companies to list.