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 201:

  Hire purchase is advantageous to the seller in that

  Options:
  A) it elevates his living standard
  B) people pay on installment
  C) his turnover will increase
  D) it enhances high level of patronage
  Show Answer
  The correct answer is D .
• Question 202: The difference between personal selling and sales promotion is that while sales promotion includes free gifts and samples, personal selling involves? Options:
  A) distributing instructional posters
  B) face-to-face communication with customers
  C) premium programming for customers
  D) publishing promotional booklets
  Show Answer
  The correct answer is B .
• Question 203: A cheque drawn by a bank official on the bank's deposits in another bank on a customer's instruction is known as? Options:
  A) promissary note
  B) bankdraft
  C) banker's order
  D) travellers' cheque
  Show Answer
  The correct answer is C .
• Question 204: The development of commerce resulted from? Options:
  A) trading
  B) competition
  C) importation
  D) specialization
  Show Answer
  The correct answer is A .
• Question 205: Leasing is the right to use asset for an agreed period in return for Options:
  A) profit
  B) interest
  C) wages
  D) rents
  Show Answer
  The correct answer is D .
• Question 206: A documentary bill will normally be accompanied by Options:
  A) . sales invoice, bill of lading and insurance certificate
  B) clean bill, bill of lading, and insurance certificate
  C) bill of lading, consular invoice, and insurance certificate
  D) consular invoice, FOB certificate and bill of lading
  Show Answer
  The correct answer is D .
• Question 207: An aspect of marketing that stimulates buying by providing free gifts is? Options:
  A) advertising
  B) personal selling
  C) publicity
  D) sales promotion
  Show Answer
  The correct answer is D .
• Question 208: The World Tourism Organization has its headquarters in? Options:
  A) New York
  B) Paris
  C) Madrid
  D) London
  Show Answer
  The correct answer is A .
• Question 209:

  Privatization is

  Options:
  A) Transfer of ownership from individual to government
  B) Transfer of ownership from government to stakeholders
  C) Transfer of ownership from government to individuals
  D) Government taking charge of all businesses
  Show Answer
  The correct answer is C .
• Question 210: A source of capital to private limited companies is shares issued to Options:
  A) the public
  B) selected persons
  C) members of the borad of directors
  D) dedicated members of staff
  Show Answer
  The correct answer is B .