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 2761: 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 2762:

  Any activity directed at conveying commodities to buyers is an aspect of

  Options:
  A) delivering
  B) advertising
  C) selling
  D) marketing
  Show Answer
  The correct answer is D .
• Question 2763:

  The provision of services is classified under

  Options:
  A) batch production
  B) flow production
  C) secondary production
  D) tertiary production
  Show Answer
  The correct answer is D .
• Question 2764: The temporary insurance certificate issued to the insured before drawing up a policy is a? Options:
  A) cover note
  B) testimonial
  C) time policy
  D) proposal form
  Show Answer
  The correct answer is A .
• Question 2765: 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
  Show Answer
  The correct answer is B .
• Question 2766:

  Use the conversion below to answer question 7 and 8

  MUSA: Taiwo why are you in business?

  TAIWO: To optimized profit, provide quality

  Product and discharge my social

  Responsibilities. What of you, Okon

  And Kalu

  OKON: I am in business to cater for the

  Need of the consumers at all costs.

  KALU: I am in business to make profit,

  Provided quality product

  At reasonable prices

  And establish a good

  Reputation for myself.

  Options:
  A) Musa
  B) Okon
  C) Taiwo
  D) Kalu
  Show Answer
  The correct answer is D .
• Question 2767:

  The scope commerce is limited to

  Options:
  A) home and foreign trade
  B) trade and aids-to-trade
  C) wholesale and retail trade
  D) wholesale and entreport trade
  Show Answer
  The correct answer is B .
• Question 2768:

  Given $\frac{\text{index of export price}}{\text{index of import price}}$ X $\frac{100}{1}$

  The formula above can be used to determine the

  Options:
  A) terms of payment
  B) balance of payments
  C) tearms of trade
  D) import tariffs
  Show Answer
  The correct answer is C .
• Question 2769: Securities on which the buyers are not issued with certificate are called? Options:
  A) authorized securities
  B) inscribed securities
  C) bearer securities
  D) registered securities
  Show Answer
  The correct answer is B .
• Question 2770: The service of a textile worker are an example of? Options:
  A) extractive activity
  B) commercial activity
  C) manufacturing
  D) construction
  Show Answer
  The correct answer is C .