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 2601: A worker who process rice is engaged in? Options:
  A) constructive activity
  B) comercial activity
  C) extractive activity
  D) manufactural activity
  Show Answer
  The correct answer is D .
• Question 2602: 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 2603: Modern means of payment is greatly facilitated by Options:
  A) e-commerce
  B) paper money
  C) e-banking
  D) credit transfer
  Show Answer
  The correct answer is C .
• Question 2604: Good and services are made available to consumers through Options:
  A) the channnel of distribution
  B) sales promotion
  C) the advertising agency
  D) the middle men
  Show Answer
  The correct answer is A .
• Question 2605: The business unit that applies the principle of one man, one vote is ______ Options:
  A) sole proprietorship
  B) partnership
  C) public company
  D) co-operative society
  Show Answer
  The correct answer is D .
• Question 2606: The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as Options:
  A) demurrage charges
  B) premium charges
  C) excess charges
  D) trade charges
  Show Answer
  The correct answer is A .
• Question 2607:

  The two main categories under which marine losses fall into are

  Options:
  A) Total loss and partial loss
  B) Voyage policy loss and time policy loss
  C) Particular loss and average loss
  D) Actual loss and general loss
  Show Answer
  The correct answer is A .
• Question 2608: Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that? Options:
  A) the loss should be borne by the insurer
  B) Mr. Lawal is liable only for half of the estimated loss
  C) the insurer should make a consolation payment for the loss
  D) the loss should be borne by Mr. Lawal
  Show Answer
  The correct answer is D .
• Question 2609:

  The difference between Articles of association and memorandum of Association is that the latter deals

  Options:
  A) with the Internal working relationship of the company and its members
  B) with the powers and relationships of the company with outsiders
  C) The method of issue, transfer and future of the company's shares
  D) The rights and responsibilities of shareholders
  Show Answer
  The correct answer is B .
• Question 2610:

  A business organization that exploits the capabilities of a member to remedy the weakness of another is a

  Options:
  A) joint venture
  B) partnership
  C) nominal partnership
  D) cooperative
  Show Answer
  The correct answer is D .