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 601: When old customers stick to the old place to buy goods and services,it is known as Options:
  A) goodwil
  B) personal factor
  C) window shopping
  D) patronage
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  The correct answer is A .
• Question 602: 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
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  The correct answer is A .
• Question 603: 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
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  The correct answer is A .
• Question 604: The device which interprets and carries out the instructions presented to it by the computer program is known as? Options:
  A) software
  B) microprocessor
  C) mouse
  D) hard-disk
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  The correct answer is B .
• Question 605: The label on a product such as 'pampers' is atype of? Options:
  A) trademark
  B) branding
  C) packaging
  D) patent right
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  The correct answer is A .
• Question 606:

  An agency contract must involve

  Options:
  A) a principal and a consumer
  B) a principal and an agent
  C) a principal and a producer
  D) a principal and a third party
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  The correct answer is B .
• Question 607: A proposed company may not be registered if? Options:
  A) the name conficits with that of another
  B) it does not put 'limited' after its proposed name
  C) it has no paid-up capital
  D) it has no asset of its own
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  The correct answer is A .
• Question 608:

  One of the functions of a trade association is to

  Options:
  A) pay members salaries
  B) promote members' welfare
  C) provide loans to members
  D) provide employment for members
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  The correct answer is B .
• Question 609:

  

  The document represents a

  Options:
  A) Bill of exchange
  B) Cheque
  C) Money order
  D) A. Promissory note
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  The correct answer is A .
• Question 610: The sales of goods through a medium that accepts money and delivers the items to the customer is Options:
  A) an automated teller machine
  B) a vending machiine
  C) a counting machine
  D) a branding machine
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  The correct answer is B .