Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 1:

  All harbours, docks and waterways of Nigeria are looked after by a public corporation called the

  Options:
  A) Nigerian Police Authority
  B) Nigerian Ports Authority
  C) National Ports Authority
  D) National Police Authority
  Show Answer
  The correct answer is B .
• Question 2: An account maintained with a commercial bank for the purpose of foreign exchange transaction is the? Options:
  A) foreign account
  B) international account
  C) domiciliary account
  D) foreign reserves account
  Show Answer
  The correct answer is C .
• Question 3: In Nigeria, the main source of pollution is? Options:
  A) domestic waste
  B) oganic waste
  C) gas flaring
  D) industral waste
  Show Answer
  The correct answer is D .
• Question 4: The commercialization of public enterprises is aimed at? Options:
  A) increasing efficiency and making the enterprises self-sufficient
  B) advertising and promoting the goods and services of the enterprises
  C) increased assistance and patronage of the enterprises by the public
  D) selling the goods and services of the enterprises
  Show Answer
  The correct answer is A .
• Question 5: One of the obstacles to achieving the objectives of ECOWAS is? Options:
  A) lack of a common currency
  B) colonial linkages
  C) sovereignty of states
  D) language differences
  Show Answer
  The correct answer is D .
• Question 6: The main concern of marketing concept is to? Options:
  A) reduce the number of retail outlets
  B) identify consumer needs and satisfy them
  C) increase sales to meet consumers needs
  D) encourage division of labour
  Show Answer
  The correct answer is B .
• Question 7: Most foreign trade transaction are paid for through the use of Options:
  A) central bank cheques
  B) bank drafts drawn by commercial banks on their foreign branches
  C) irrevocable and confirmed letters of credit
  D) letters of credit authenticated by the embassies of the respective countries
  Show Answer
  The correct answer is C .
• Question 8: An agent who brings a customer into business contact with his principle is known as? Options:
  A) a del credere agent
  B) an auctioneer
  C) a factor
  D) a broker
  Show Answer
  The correct answer is D .
• Question 9: The financial instrument for borrowing in which the collateral is usually more than the amount borrowed is? Options:
  A) trust certificate
  B) detachable warrant
  C) mortage bond
  D) converttible securities
  Show Answer
  The correct answer is C .
• Question 10: The activities aimed at finding out customers' needs and satisfaction can be described as? Options:
  A) social-marketing
  B) macro-marketing
  C) micro-marketing
  D) conceptual marketing
  Show Answer
  The correct answer is D .