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 2001:

  Which of the limited liability companies have a limit of fifty members and do not issues their shares to the public

  Options:
  A) Private limited liability
  B) Public limited liability
  C) Partnership
  D) Co-operative society
  Show Answer
  The correct answer is A .
• Question 2002: Second-tier Securities Market differ from the First-tier Securities Market in that the former is? Options:
  A) highly restricted
  B) regulated by the SEC
  C) regulated by the NIPC
  D) less restricted
  Show Answer
  The correct answer is A .
• Question 2003: The person who undertakes any risk in insurance business is known as Options:
  A) a broker
  B) an underwriter
  C) an insurer
  D) an actuary
  Show Answer
  The correct answer is B .
• Question 2004:

  Extractive industries may also be denominated as?

  Options:
  A) direct industries
  B) service industries
  C) primary industries
  D) indirect industries
  Show Answer
  The correct answer is C .
• Question 2005:

  The board of directors of public enterprise is appointed by who?

  Options:
  A) Employees
  B) management
  C) government
  D) shareholders
  Show Answer
  The correct answer is D .
• Question 2006: The total of share capital which a company should be allowed to issued is known as? Options:
  A) called-up capital
  B) paid-up capital
  C) nominal capital
  D) issued capital
  Show Answer
  The correct answer is C .
• Question 2007: The major responsibility of an entrepreneur is? Options:
  A) Employing all factors of production in the business
  B) coordinating and determining the proportion of what to produce
  C) planning and organizing all activities in the business
  D) directing and controlling all the affairs of the business
  Show Answer
  The correct answer is A .
• Question 2008: The major dealers on the stock market are the? Options:
  A) agents
  B) jobbers
  C) investors
  D) brokers
  Show Answer
  The correct answer is D .
• Question 2009: The major aim of establishing a public corporation is to Options:
  A) establish a monopoly
  B) provide essential services
  C) provide employment opportunities
  D) encourage specialization
  Show Answer
  The correct answer is B .
• Question 2010: 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 .