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 221:

  Why is clean bill of lading called so?

  Options:
  A) it is a clear bill
  B) it shows not records of damaged goods
  C) it shows records of damaged goods
  D) it signifies no debt is owed
  Show Answer
  The correct answer is B .
• Question 222: A type of long-term loan granted to companies with fixed interest as well as with redeemable and irredeemable features is referred to as? Options:
  A) a denbenture
  B) a bond
  C) a term loan
  D) an overdraft
  Show Answer
  The correct answer is A .
• Question 223:

  The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be________

  Options:
  A) The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be
  B) Aviation Insurance
  C) Marine Insurance
  D) Life Assurance
  Show Answer
  The correct answer is C .
• Question 224: A business partner who provides capital but abstains from participation in administration of a firm is a Options:
  A) general partner
  B) nominal partner
  C) secret partner
  D) dormant partner
  Show Answer
  The correct answer is D .
• Question 225: Which of the following is a limitation of division of labour? Options:
  A) Decline in craftmanship
  B) Monotony of work
  C) Reduction in output
  D) Reduction in labour force
  Show Answer
  The correct answer is D .
• Question 226: A lawyer that defrauds his client may be derobed by the Nigerian Bar association in order to Options:
  A) protect other lawyers
  B) protect the intergrity of the association
  C) compensate the affected client
  D) prevent the client from sueing the association
  Show Answer
  The correct answer is B .
• Question 227:

  The activities aimed at finding customers needs and satisfaction can be described as

  Options:
  A) conceptual marketing
  B) macro-marketing
  C) socio-marketing
  D) micro-marketing
  Show Answer
  The correct answer is A .
• Question 228: The members of ECOWAS include? Options:
  A) Nigeria, Chad, Gabon and Cape Verde
  B) Burkina Faso, Nigeria and Ghana
  C) Guinea, Mali, Cameroun and Nigeria
  D) Togo, Niger, Nigeria and Ghana
  Show Answer
  The correct answer is D .
• Question 229: An important issue for consideration in the product element of the marketing mix is the? Options:
  A) adequate of the peroduct
  B) channel of diistribution of the product
  C) price of the product
  D) planing and development of the product
  Show Answer
  The correct answer is D .
• Question 230: A wholesaler who possesses the title of goods he sells is known as? Options:
  A) a merchant wholesaler
  B) a multiple wholesaler
  C) a general wholesaler
  D) an agent wholesaler
  Show Answer
  The correct answer is A .