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 621:

  A major function of trade association is to

  Options:
  A) foster cooperation among members
  B) establish a link among member
  C) assist members to buy cars
  D) help individuals to set up small business
  Show Answer
  The correct answer is A .
• Question 622: One of the functions of the Nigeria Ports Authority is the provision of? Options:
  A) facilities to enhance the speedy loading and offloading of cargoes
  B) facilities to ensure that goods get to their destinations
  C) shelter for operators of cargoes
  D) courier services to ensure speedy delivery
  Show Answer
  The correct answer is A .
• Question 623:

  The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is

  Options:
  A) contango
  B) arbitrage
  C) backwardation
  D) franco
  Show Answer
  The correct answer is C .
• Question 624: The major aim of establishing a public corporation is to Options:
  A) establish a monopoly
  B) provide essential services
  C) provide employment opportunities
  D) encourage specialization
  Show Answer
  The correct answer is B .
• Question 625: The document that gives an importer a freehand to obtain goods from any manufacturer is? Options:
  A) a consular invoice
  B) a closed indents
  C) an open indent
  D) a freight note
  Show Answer
  The correct answer is C .
• Question 626: The sustainable growth of commerce is largely due to? Options:
  A) marketing
  B) advertising
  C) exchange
  D) branding
  Show Answer
  The correct answer is B .
• Question 627:

  One of the functions of the Nigeria Ports Authority is the provision of

  Options:
  A) carrier services to ensure speedy delivery
  B) facilities to enhance the speedy loading and offloading of cargoes
  C) facilities to ensure that goods get to the destinations
  D) shelter for operators of cargoes
  Show Answer
  The correct answer is B .
• Question 628: An association of voluntary organizations that work together for a common aim while retaining their independence is a Options:
  A) syndicate
  B) merger
  C) cartel
  D) consortium
  Show Answer
  The correct answer is C .
• Question 629: Commission on turnover is usually a benefit accruable to the Options:
  A) drawer
  B) drawee
  C) payer
  D) payee
  Show Answer
  The correct answer is D .
• Question 630:

  The effects of devaluation includes all except

  Options:
  A) expansion of local industries
  B) increase in import
  C) increase in standard of living
  D) exports become cheaper
  Show Answer
  The correct answer is C .