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 31: The effects of devaluation includes all except _______ Options:
  A) exports become cheaper
  B) expansion of local industries
  C) increase in standard of living
  D) increase in import
  Show Answer
  The correct answer is D .
• Question 32:

  The act of selling in a foreign market at a price lower than the cost price is called

  Options:
  A) Dumping
  B) hedging
  C) fair trading
  D) under sale
  Show Answer
  The correct answer is A .
• Question 33: Trading on the stock exchange in anticipation of price change in the market value of shares is? Options:
  A) speculation
  B) forecasting
  C) expectation
  D) projection
  Show Answer
  The correct answer is A .
• Question 34:

  A public limited liability company having a nominal capital made up of 200 000 ordinary shares of 50k each decided to issued 50% of it to the public.

  What is the authorized capital?

  Options:
  A) N40 000
  B) N50 000
  C) 100 000
  D) 200 000
  Show Answer
  The correct answer is B .
• Question 35: Factors considered when setting up a retail business is one of the following _________ Options:
  A) capital, experience and trading
  B) experience, term of trade, and trading
  C) capital, trading and term of trade
  D) capital, type of goods and source of supply
  Show Answer
  The correct answer is D .
• Question 36:

  The major determinant of fire insurance premium is the

  Options:
  A) usefulness of the property to the owner
  B) type and structure of the property to be insured
  C) owner of the property to be insured
  D) extent of fire damage anticipated
  Show Answer
  The correct answer is B .
• Question 37:

  When does production ends?

  Options:
  A) When the goods are distributed to the wholesalers
  B) When the goods reaches the retailer
  C) When the goods reaches the final consumers
  D) When the goods are fully packaged
  Show Answer
  The correct answer is C .
• Question 38: The maximum number of shareholders in a public liability company is? Options:
  A) twenty
  B) fifty
  C) one hundred
  D) unlimited
  Show Answer
  The correct answer is D .
• Question 39:

  A customer with ABC Plc sent money through his account to his sister's account in another branch. This Is an example of

  Options:
  A) e-business
  B) e-commerce
  C) e-banking
  D) e-finance
  Show Answer
  The correct answer is C .
• Question 40: Stevedores as a term in foreign trade means men who Options:
  A) inspect goods in ships
  B) import goods by ships
  C) collect duties in ships
  D) load and unload ships
  Show Answer
  The correct answer is D .