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 611: An agent who brings a customer into business contact with his principle is known as? Options:
  A) a del credere agent
  B) an auctioneer
  C) a factor
  D) a broker
  Show Answer
  The correct answer is D .
• Question 612: A functional structure is an organizational structure in which? Options:
  A) abstract rules are applied
  B) equity prevails
  C) a specialist enforces his directives
  D) there is no hierarchy
  Show Answer
  The correct answer is C .
• Question 613: Citizens are against privatization mainly because of? Options:
  A) the rationalization of organizations
  B) increased prices of goods and services
  C) the likelihood of monopoly
  D) ineffective management
  Show Answer
  The correct answer is B .
• Question 614: Transport, retailing and wholesaling industries rely heavily on Options:
  A) banking
  B) insurance
  C) manufacturing
  D) railway
  Show Answer
  The correct answer is C .
• Question 615:

  The fees charged on postal order by the post office is

  Options:
  A) premium
  B) poundage
  C) interest
  D) brokerage
  Show Answer
  The correct answer is B .
• Question 616:

  Services are made up of

  Options:
  A) visible and invisible
  B) Industry and Commerce
  C) direct and indirect services
  D) Goods and Services
  Show Answer
  The correct answer is C .
• Question 617: The measure of independence available to the individual business unit that come together is the main different between Options:
  A) veritcal and horizontal integration
  B) mergers and acquisition
  C) consortium and almalgamation
  D) trust and cartel
  Show Answer
  The correct answer is B .
• Question 618: A step-by-step method of carrying out functions in an office is known as? Options:
  A) procedure
  B) organizing
  C) policy
  D) programme
  Show Answer
  The correct answer is A .
• Question 619:

  Taking a new product to a particular part of the country to test the reaction of consumers to the product is referred to as?

  Options:
  A) sales promotion
  B) sampling
  C) merchandising
  D) advertising
  Show Answer
  The correct answer is A .
• Question 620: The agreement of insurers to spread risks among themselves is a major feature of? Options:
  A) reinsurance
  B) life insurance
  C) underwriter
  D) marine insurance
  Show Answer
  The correct answer is A .