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 471: The conversion of raw materials into finished products creates? Options:
  A) form utility
  B) marginal utility
  C) place utility
  D) time utility
  Show Answer
  The correct answer is A .
• Question 472: A trade association consists of members engaged in the same trade while a chamber of commerce is? Options:
  A) highly regulated by agovernent agency
  B) not restricted on a particular industry
  C) made up of members that are registered
  D) made up of firms in the banking industry
  Show Answer
  The correct answer is B .
• Question 473:

  NAME	INSURED AMOUNT(₦)	ACTUAL VALUE(₦)	ACTUAL LOSS(₦)
  Mr. P Mr. K Mr. R	25,000 30,000 40,000	100,000 120,000 150,000	30,000 40,000 50,000

  What insurance principle has Mr. R violated if he decides to overstate the actual value of his property?

  Options:
  A) insurable interest
  B) uberrimae fidei
  C) subrogation
  D) indemnity
  Show Answer
  The correct answer is B .
• Question 474: A cheque which a bank draws on its own funds is a? Options:
  A) bankdraft
  B) cashier's cheque
  C) bank cheque
  D) crossed cheque
  Show Answer
  The correct answer is A .
• Question 475: Ships used for international transport are? Options:
  A) trawelers
  B) yachets
  C) ocean liners
  D) launchers
  Show Answer
  The correct answer is C .
• Question 476: The major condition for obtaining loan in thrift, credit and loans cooperative societies is Options:
  A) provision of collateral security
  B) a high level of education
  C) possesssion of a large business
  D) an approved project plan
  Show Answer
  The correct answer is A .
• Question 477: An acquired firm in a merger will always receive a? Options:
  A) premium
  B) grant
  C) share
  D) discount
  Show Answer
  The correct answer is C .
• Question 478: The three components of staffing are? Options:
  A) recruitment, interview and appointment
  B) recruitment, test and placement
  C) recruitment, selection and appointment
  D) recruitment, selection and placement
  Show Answer
  The correct answer is D .
• Question 479: The body regulating the sale and purchase of shares in Nigeria is the Options:
  A) Corporate affair commission
  B) Securities and exchange commission
  C) Securities and exchange tribunal
  D) Nigerian stock exchange
  Show Answer
  The correct answer is B .
• Question 480: In e-banking, ATM means Options:
  A) Authentic Teller Manchine
  B) Autmatic Teller Machine
  C) All-purpose Teller Machine
  D) Automated Teller Machine
  Show Answer
  The correct answer is D .