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 label on a product such as 'pampers' is atype of? Options:
  A) trademark
  B) branding
  C) packaging
  D) patent right
  Show Answer
  The correct answer is A .
• Question 32:

  The service of a retailer is part of production because it

  Options:
  A) creates a link between consumers and producers
  B) enables finished goods to reach consumers
  C) increases consumers standard of living
  D) is a commercial occupation
  Show Answer
  The correct answer is B .
• Question 33: Ships that sail across the ocean and operate on scheduled time tables are? Options:
  A) ferries
  B) ocean liners
  C) tramp steamers
  D) coastal liners
  Show Answer
  The correct answer is B .
• Question 34:

  A document that embody the conditions and exceptions attached to the contract is

  Options:
  A) proposal form
  B) cover note
  C) the policy
  D) insurance certificate
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  The correct answer is C .
• Question 35: An agent who takes title to goods and has authority to buy and sell on behalf of another is Options:
  A) A jobber
  B) A broker
  C) A factor
  D) An auctioneer
  Show Answer
  The correct answer is A .
• Question 36: The difference between indemnity insurance and non-indemnity insurance is that the latter provides Options:
  A) cover for exporters against risks
  B) cover for importers against risks
  C) full payment to the insured
  D) consolation payment to the insured
  Show Answer
  The correct answer is D .
• Question 37:

   communication process involves the transmission of a message over a selected channel to the?

  Options:
  A) encoder
  B) receiver
  C) audience
  D) sender
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  The correct answer is B .
• Question 38: The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is? Options:
  A) contribution
  B) subrogation
  C) promiate cause
  D) utmost good faith
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  The correct answer is B .
• Question 39: The physical component of a computer system is Options:
  A) software
  B) hardware
  C) hard disk
  D) floppy disk
  Show Answer
  The correct answer is B .
• Question 40:

  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 .