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 2871:

  

  Use the above table to answer this question.

  What insurance principle has Mr P Violated if he decides to overstate the actual value of his property?

  Options:
  A) Indemnity
  B) Insurable interest
  C) Uberrimae fidei
  D) Subrogation
  Show Answer
  The correct answer is C .
• Question 2872: A major disadvantage of the privatization policy is that? Options:
  A) the economy would be private-sector-led
  B) citizens would benefit less from government
  C) more money would be bought into circulation
  D) government would loss control of the economy
  Show Answer
  The correct answer is D .
• Question 2873: The arrangement and interrelationship of the various components and positions of a business is referred to as? Options:
  A) organizational structure
  B) clarity of objective
  C) unity of direction
  D) line structure
  Show Answer
  The correct answer is A .
• Question 2874:

  A factor necessary for siting of a warehouse is nearness to

  Options:
  A) labour
  B) consumers
  C) capital
  D) raw materials
  Show Answer
  The correct answer is B .
• Question 2875: The main function of thrift, credit and loans co-operative societies is to Options:
  A) educate their members
  B) collect money from their members
  C) disburse money to their members
  D) raise investment finance among thir members
  Show Answer
  The correct answer is D .
• Question 2876: 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 2877: Electronic computers differ and minimize errors in a? Options:
  A) faster and more accurate manner
  B) more organized manner
  C) faster but less accurate manner
  D) slower but more accurate manner
  Show Answer
  The correct answer is A .
• Question 2878: A device that enables the downloading of information from the internet is the? Options:
  A) floppy drive
  B) compact disk
  C) modem
  D) bluetooth
  Show Answer
  The correct answer is C .
• Question 2879:

  Examples of consumer goods include all except________

  Options:
  A) Nurse
  B) Cars
  C) Spoon
  D) Shoes
  Show Answer
  The correct answer is B .
• Question 2880: A bus driver operating between Lagos and Jos pledged the owner's credit in Benin in order to have the engine repaired and the bill sent to the owner.This is a case of Options:
  A) del credere agency
  B) agency by necessity
  C) agency by rafication
  D) agency by estoppel
  Show Answer
  The correct answer is B .