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: The two main categories under which marine losses fall into are? Options:
  A) particular loss and average loss
  B) actual loss and average loss
  C) total loss and partial loss
  D) voyage policy loss and time policy loss
  Show Answer
  The correct answer is C .
• Question 92:

  A document which entitles its holder to the gods named on it, which is stored in a specific warehouse is called________

  Options:
  A) Debit note
  B) Credit note
  C) Warrant
  D) Shipping note
  Show Answer
  The correct answer is C .
• Question 93:

  Use the information below to answer question 14 and 15.

  Miamani Plc, whose nominal capital is made up of 5000 000 ordinary shares of 50k each, decided to offer 80% of it to the public and realized only 50% of the amount due.

  What is the company's reserve share capital?

  Options:
  A) N2500 000
  B) N4000 000
  C) N5000 000
  D) N2000 000
  Show Answer
  The correct answer is A .
• Question 94: The internet is a system of telecommunication used for Options:
  A) Sending electronic message
  B) Communicating messages through telegrams
  C) Communicating long-distance
  D) Sending and renewing text message
  Show Answer
  The correct answer is A .
• Question 95: The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as Options:
  A) demurrage charges
  B) premium charges
  C) excess charges
  D) trade charges
  Show Answer
  The correct answer is A .
• Question 96:

  One of the merits of television as a medium of advertising is that it

  Options:
  A) is prone to censorship
  B) is relatively cheap
  C) has more network coverage
  D) has more sensory stimulation
  Show Answer
  The correct answer is D .
• Question 97: A bus driver operating between Lagos and Jos pledged the owner's credit in Benin in order to have the engine repaired and the bill sent to the owner.This is a case of Options:
  A) del credere agency
  B) agency by necessity
  C) agency by rafication
  D) agency by estoppel
  Show Answer
  The correct answer is B .
• Question 98:

  Which of the following is not a right of a consumer?

  Options:
  A) Right to a fair hearing
  B) Right to buy on credit
  C) Right to obtain replacement
  D) Right to safe product
  Show Answer
  The correct answer is B .
• Question 99: The marketing approach by which a firm carries out detailed analysis of itself, the consumers and its competitors is known as? Options:
  A) market analysis
  B) marketing mix analysis
  C) marketing opportunities analysis
  D) market survey
  Show Answer
  The correct answer is D .
• Question 100: The existing system of government and the administrative sub-division of a country which affect the operation of business in the country is described as Options:
  A) economic environment
  B) legal environment
  C) polictical environment
  D) social environment
  Show Answer
  The correct answer is C .