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 2421:

  What is a Quota?

  Options:
  A) Tax pad on goods produced within a country
  B) A physical restriction placed on quantity of goods that can be imported
  C) Tax paid on goods produced outside a country
  D) Ban on all imported goods
  Show Answer
  The correct answer is B .
• Question 2422: In a common market, member countries agree basically to Options:
  A) place bans on the other countries’ product
  B) wage war against other countries’ product
  C) establish common barriers against countries outside the market
  D) negotiate with countries outside the market for favourable terms of trade .
  Show Answer
  The correct answer is C .
• Question 2423:

  A group of sellers who pool their resources to buy goods in large quantities and sell to its members is a

  Options:
  A) wholesaler cooperative society
  B) thrift and credit society
  C) consumer cooperative society
  D) chamber of commerce
  Show Answer
  The correct answer is A .
• Question 2424: Securities that entitle the investor to coupon rates are Options:
  A) bonds
  B) equities
  C) warrants
  D) treasury bills
  Show Answer
  The correct answer is B .
• Question 2425: The rate at which a central bank discount first class bills is called the Options:
  A) fixed rate
  B) bill rate
  C) bank rate
  D) interest rate
  Show Answer
  The correct answer is C .
• Question 2426: An organizational structure that is military in nature is the? Options:
  A) line structure
  B) staff structure
  C) line and staff structure
  D) fnctional structure
  Show Answer
  The correct answer is D .
• Question 2427:

  The Central Bank Monetary policy instrument by which it buys and sells securities is called

  Options:
  A) open market operation
  B) bank credit
  C) cash reserve ratio
  D) bank rate
  Show Answer
  The correct answer is A .
• Question 2428: A document that serves as an instument for perferential tariff is referred to as Options:
  A) an indent
  B) a certificate of origin
  C) a consular invoice
  D) an advice note
  Show Answer
  The correct answer is B .
• Question 2429:

  An example of extractive occupation is

  Options:
  A) driving
  B) teaching
  C) banking
  D) mining
  Show Answer
  The correct answer is D .
• Question 2430:

  The right to buy or sell stock in the stock exchange within a stipulated period is

  Options:
  A) option
  B) contango
  C) backwardation
  D) brokerage
  Show Answer
  The correct answer is A .