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 1211: A minor is not permitted to enter into a valid contract because he Options:
  A) Cannot pay the consideration
  B) Is too young to interpret the law
  C) Is young in the eye of the law
  D) May not be able to write the contract
  Show Answer
  The correct answer is C .
• Question 1212: The setting of objectives for an organization and determining how to accomplish them is? Options:
  A) social responsibility
  B) planning
  C) organizing
  D) decision-making
  Show Answer
  The correct answer is B .
• Question 1213:

  When a company insures the lives of all its employees collectively, the policy is

  Options:
  A) accident insurance
  B) fleet insurance
  C) fidelity guarantee insurance
  D) group insurance
  Show Answer
  The correct answer is D .
• Question 1214: A royal charter was granted to the Royal Niger Company to do business in Nigeria in Options:
  A) December 1888
  B) May 1887
  C) July 1886
  D) August 1885
  Show Answer
  The correct answer is C .
• Question 1215:

  Current account holders withdraw money through

  Options:
  A) Credit card
  B) Cheque
  C) Transfer
  D) Withdrawal form
  Show Answer
  The correct answer is B .
• Question 1216: Which of the following document permit an importer to inspect his goods before the arrival of the bill of lading? Options:
  A) Bill of sight
  B) Import invoice
  C) Consular invoice
  D) Bill of exchange
  Show Answer
  The correct answer is C .
• Question 1217: The market where only indigenous firms are considered is the? Options:
  A) money market
  B) second-tier securities market
  C) local market
  D) stock exchange
  Show Answer
  The correct answer is B .
• Question 1218: A trader who experienced loss through fire can be restored by Options:
  A) an insurance company
  B) a trade association
  C) the bank
  D) an advertising agency
  Show Answer
  The correct answer is B .
• Question 1219:

  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 1220:

  Examples of Commercial occupation are all except___________

  Options:
  A) Bankers
  B) Traders
  C) Insurers
  D) Goldsmith
  Show Answer
  The correct answer is D .