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 91:

  Which is the fastes means of transportation?

  Options:
  A) road
  B) air
  C) rail
  D) water
  Show Answer
  The correct answer is B .
• Question 92: The ECOBANK is the initiative of? Options:
  A) some well-meaning Nigerian shareholders
  B) the Federal Government of Nigeria
  C) West African states tto foster trade
  D) the Lagos State Governement to enhance capital mobilization
  Show Answer
  The correct answer is C .
• Question 93:

  A specially-designed mode of transport for conveying liquid and gas is a

  Options:
  A) coaster
  B) tanker
  C) liner
  D) ferry
  Show Answer
  The correct answer is B .
• Question 94: The agency in Nigeria which ensure that products conform to government quality specification is the Options:
  A) Nigerian consumers’ association
  B) Manufacturers' Association of Nigeria
  C) Standard Organization of Nigeria
  D) Nigerian Chamber of commerce
  Show Answer
  The correct answer is C .
• Question 95:

  The scope commerce is limited to

  Options:
  A) home and foreign trade
  B) trade and aids-to-trade
  C) wholesale and retail trade
  D) wholesale and entreport trade
  Show Answer
  The correct answer is B .
• Question 96:

  A document that embody the conditions and exceptions attached to the contract is

  Options:
  A) proposal form
  B) cover note
  C) the policy
  D) insurance certificate
  Show Answer
  The correct answer is C .
• Question 97:

  One of the functions of a trade association is to

  Options:
  A) pay members salaries
  B) promote members' welfare
  C) provide loans to members
  D) provide employment for members
  Show Answer
  The correct answer is B .
• Question 98:

  What do we call agreement between two people enforced by law?

  Options:
  A) Consideration
  B) offer
  C) contract
  D) agreement
  Show Answer
  The correct answer is C .
• Question 99: How much was the trade discount? Options:
  A) N42.500
  B) N27,500
  C) N22,500
  D) N20,000
  Show Answer
  The correct answer is A .
• Question 100: A printed copy of processed information from the computer is the? Options:
  A) soft copy
  B) file copy
  C) scanned copy
  D) hard copy
  Show Answer
  The correct answer is D .