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 21: The basic function of the Nigeria Ports Authority is to? Options:
  A) ensure that the right calibre of personnel is employed at the ports
  B) coordinate and regulate the activities of shipping lines
  C) facilitate and control the movement of goods and services into and out of the country
  D) coordinate the activities of all the seaports in the country
  Show Answer
  The correct answer is D .
• Question 22: An undertaking given by a person to another assuring his integrity is Options:
  A) proximate cause
  B) fidelity quarantee
  C) subrogation
  D) insurable interest
  Show Answer
  The correct answer is B .
• Question 23:

  A commission charged on postal order is__________

  Options:
  A) postal zero
  B) postal orders
  C) poundage
  D) brokage
  Show Answer
  The correct answer is C .
• Question 24: The second tier security market is Options:
  A) an appendage to the Nigeria stock exchange
  B) a member of the Nigeria stock exchange
  C) meant for the shares of quoted private companies
  D) a regulating arm of the Nigerian stock exchange
  Show Answer
  The correct answer is B .
• Question 25:

  Services rendered to the public is provided by

  Options:
  A) domestic servants
  B) civil servants
  C) government
  D) professionals
  Show Answer
  The correct answer is B .
• Question 26:

  All but one is not a barriers to foreign trade

  Options:
  A) Natural Barriers
  B) Economic Barriers
  C) Social and Language Barriers
  D) Trade Fair
  Show Answer
  The correct answer is D .
• Question 27: A type of retail trade where a group of similar stores which is owned by a firm operates in different locations is a? Options:
  A) conglomerate
  B) chain stores
  C) departmental store
  D) suppermarket
  Show Answer
  The correct answer is B .
• Question 28: Payment made to the insured by the insurer outside its legal obligation is? Options:
  A) premium paid
  B) ex gratia payment
  C) surrender value
  D) sum assured
  Show Answer
  The correct answer is B .
• Question 29: A per-requiste for admission into the Second Tier Securities Market is for a company to? Options:
  A) make 20% of its equity share available to the public for subscription
  B) have a minimum of 100 shareholders
  C) have a maximum of 100 shareholders
  D) make 10% of its equity share available to thee public for subscription
  Show Answer
  The correct answer is D .
• Question 30:

  A cheque that is payable to whoever presents it is known as______

  Options:
  A) order cheque
  B) open cheque
  C) crossed cheque
  D) bearer cheque
  Show Answer
  The correct answer is D .