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 141:

  A person who buys new issues with a view of reselling at a higher price in the near future is referred to as a

  Options:
  A) bear
  B) bull
  C) dealer
  D) stag
  Show Answer
  The correct answer is B .
• Question 142: An order sent by an importer to an overseas supplier stating the details of goods required is known as? Options:
  A) export invoice
  B) ship's manifest
  C) an indent
  D) bill of lading
  Show Answer
  The correct answer is C .
• Question 143: The internet is a system of telecommunications used for? Options:
  A) communicating long-distance messages
  B) sending and recieving text massages
  C) sending electronic messages
  D) communicating messages through telegrams
  Show Answer
  The correct answer is C .
• Question 144:

  Any information about a manufacturer or his product that appears in any medium on a non-paid basis is known as

  Options:
  A) Sales Promotion
  B) Personal Selling
  C) Advertising
  D) Publicity
  Show Answer
  The correct answer is D .
• Question 145: The process of bringing a company under exclusive state ownership and control is know as Options:
  A) nationalization
  B) commercialization
  C) indigenization
  D) privatization
  Show Answer
  The correct answer is A .
• Question 146:

  A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a

  Options:
  A) commission agent
  B) factor
  C) broker
  D) del credere agent
  Show Answer
  The correct answer is D .
• Question 147:

  Mr. Olatunde took up a fire insurance on a property valued at ₦1000 and the amount insured is ₦80. Thee ₦400. If the property caught fire causing a loss of insurance was taken with the clause with average what is the amount to be paid bý the insurance company?

  Options:
  A) ₦420
  B) ₦320
  C) ₦460
  D) ₦560
  Show Answer
  The correct answer is B .
• Question 148: One of the factors which critically determines the choice of occupation is Options:
  A) traning
  B) skills
  C) aptitude
  D) interest
  Show Answer
  The correct answer is B .
• Question 149: Balance of payments is made up of? Options:
  A) visible and current items
  B) invisible and capital items
  C) current and capital items
  D) visible and invisible items
  Show Answer
  The correct answer is C .
• Question 150: Wholesalers can be divided into? Options:
  A) sales agent and brokers
  B) full service
  C) cooperative wholesale society and limited service wholesalers
  D) merchant wholesales and egent middlemen
  Show Answer
  The correct answer is D .