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 211: The pricing policy that seeks to set prices relatively high in order to attract the wealthy segment of the market is Options:
  A) target return pricing
  B) market skimming
  C) variable pricing
  D) market penetration
  Show Answer
  The correct answer is B .
• Question 212: The main objective of a trade association is to Options:
  A) protect its members against litigation
  B) boost the trade of its members
  C) secure credit for its members
  D) protect its members against victimization
  Show Answer
  The correct answer is D .
• Question 213: 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
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  The correct answer is C .
• Question 214:

  The Nigerian Stock Exchange consist of

  Options:
  A) primary and secondary -tier market
  B) commercial and mortgage market
  C) secondary and primary market
  D) money and commodities market
  Show Answer
  The correct answer is C .
• Question 215:

  The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

  Options:
  A) indemnity
  B) contribution
  C) proximate cause
  D) uberrimae fidei
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  The correct answer is B .
• Question 216: The factor of production that is subject to depreciation is? Options:
  A) capital
  B) land
  C) labour
  D) entrepreneur
  Show Answer
  The correct answer is A .
• Question 217:

  The difference between the central bank and commercial bank is that the former

  Options:
  A) serves as lender of last resort
  B) discount treasury bills
  C) saves valuable of individual
  D) give loans to the public
  Show Answer
  The correct answer is A .
• Question 218: Another name or term for a dishonoured cheque is ______ Options:
  A) an order cheque
  B) a bounced cheque
  C) a bearer cheque
  D) an open cheque
  Show Answer
  The correct answer is B .
• Question 219: Which of the following is a characteristic of a bearer cheque Options:
  A) it is made with transverse lines
  B) it is made payable to whoever presents it
  C) it is made without transverse lines
  D) it is only payable into the payees account
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  The correct answer is B .
• Question 220: One of the requirements necessary for setting up a business is? Options:
  A) registration
  B) advertisement
  C) knowledge of the business
  D) documentation
  Show Answer
  The correct answer is C .