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 41: The necessary documents used in foreign trade are? Options:
  A) bill of lading, invoice and letter of inqiry
  B) indent, bill of exchange, bill of lading and voice
  C) voice, shipping note, bill of lading and freight note
  D) shipping note, certificate of origin and visible exports
  Show Answer
  The correct answer is C .
• Question 42:

  Someone traveling abroad for at least "twenty - four hours" and a maximum stay of six months is known as

  Options:
  A) Transportation
  B) Tourism
  C) International trade
  D) Domestic tourism
  Show Answer
  The correct answer is B .
• Question 43: A person who undertakes life insurance is said to be an Options:
  A) insurer
  B) assurer
  C) assured
  D) insured
  Show Answer
  The correct answer is D .
• Question 44: Gilt-edged securities are issued mainly by Options:
  A) individuals
  B) non-governmental organisations
  C) Government
  D) multi-national companies
  Show Answer
  The correct answer is C .
• Question 45: Tourists with no fixed address in a town may receive their letters from post office through a Options:
  A) poste restante
  B) parcel post
  C) private mail bag
  D) recorded delivery
  Show Answer
  The correct answer is A .
• Question 46: Cum div differs from ex div in that, the later Options:
  A) entitles the purchaser to recieve a company's current dividend
  B) entitles the vendor to recieve a company's current dividend
  C) confirms a purchase or sale made on behalf of a share holder
  D) is a document used to transfer ownership of shares
  Show Answer
  The correct answer is A .
• Question 47: The unit through which result of a processed data are displayed is the? Options:
  A) logic unit
  B) display unit
  C) control unit
  D) output unit
  Show Answer
  The correct answer is D .
• Question 48: The rate at which a central bank discount first class bills is called the Options:
  A) fixed rate
  B) bill rate
  C) bank rate
  D) interest rate
  Show Answer
  The correct answer is C .
• Question 49: The lake Chad Basin commission was founded to enable member states Options:
  A) expand the volume of water in the lake for fishing activities
  B) increase navigational activities on the lake
  C) dam the lake for electricity and agricultural purposes
  D) co-ordinate their efforts in managing the use of the lake's resources
  Show Answer
  The correct answer is D .
• Question 50:

  Which of the following functions is not performed by warehousing?

  Options:
  A) Stabilization of price
  B) production ahead of demand
  C) creating scarcity of goods
  D) storage of goods
  Show Answer
  The correct answer is C .