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 511: A documentary bill will normally be accompanied by Options:
  A) . sales invoice, bill of lading and insurance certificate
  B) clean bill, bill of lading, and insurance certificate
  C) bill of lading, consular invoice, and insurance certificate
  D) consular invoice, FOB certificate and bill of lading
  Show Answer
  The correct answer is D .
• Question 512:

  Mr. Taju entered into a contract to let a car to Mr. Funbi for his wedding for two days. However, the car had an accident before the first day. Mr. Funbi attempted to Claim damages but failed. This implies that the contract was terminated by

  Options:
  A) bankruptcy
  B) breach
  C) lapse of time
  D) frustration
  Show Answer
  The correct answer is D .
• Question 513: A protection right which can be reviewed or renewed after seven years is known as? Options:
  A) patent
  B) design
  C) registration name
  D) trade mark
  Show Answer
  The correct answer is A .
• Question 514: The association that comprises all types of businesses is referred to as? Options:
  A) chamber of commerce
  B) trust
  C) trade association
  D) cartel
  Show Answer
  The correct answer is A .
• Question 515: A bill of exchange already accepted can be discounted by the holder in? Options:
  A) the central bank
  B) at least two banks
  C) his bank
  D) any bank
  Show Answer
  The correct answer is D .
• Question 516: A factor necessary for siting a warehouse is nearness to Options:
  A) raw materials
  B) labour
  C) capital
  D) consumers
  Show Answer
  The correct answer is D .
• Question 517:

  Why will a cheque be dishonored?

  Options:
  A) Regular signature
  B) high amount of money written on the cheque
  C) insufficient funds
  D) general crossing
  Show Answer
  The correct answer is C .
• Question 518: A risk that can be estimated and calculated to be compensation is? Options:
  A) a delivery risk
  B) an insurable risk
  C) a credit risk
  D) a systematic risk
  Show Answer
  The correct answer is B .
• Question 519: An important issue for consideration in the product element of the marketing mix is the? Options:
  A) adequate of the peroduct
  B) channel of diistribution of the product
  C) price of the product
  D) planing and development of the product
  Show Answer
  The correct answer is D .
• Question 520: The development of a continer and a graphic design for a product is called? Options:
  A) packaging
  B) promotion
  C) processing
  D) production
  Show Answer
  The correct answer is A .