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 61:

  A person who undertakes any risk in insurance business is known as ? 

  Options:
  A) a broker
  B) an underwriter
  C) an insurer
  D) an actuary
  Show Answer
  The correct answer is B .
• Question 62: Division of labour ultimately leads to? Options:
  A) conservation
  B) intergration
  C) specialization
  D) repetition
  Show Answer
  The correct answer is C .
• Question 63:

  Goods and services are made available to consumers through

  Options:
  A) The advertising agency
  B) Sales promotion
  C) The channel of distribution
  D) The middle men
  Show Answer
  The correct answer is C .
• Question 64: If the rate of turnover of a company in 1999 was 4 times while the average stock was N49,600, determine the turnover. Options:
  A) N199,400
  B) N198,400
  C) N100,200
  D) N99,200
  Show Answer
  The correct answer is B .
• Question 65: To eliminate middlemen, there should be a retail outlet such as Options:
  A) producer co-operative
  B) consumer co-operative
  C) multiple shop
  D) departmental store
  Show Answer
  The correct answer is C .
• Question 66: The selling of new shares to exist shareholders is referred to as? Options:
  A) public issue
  B) offer for sale
  C) rights issue
  D) bonus issue
  Show Answer
  The correct answer is C .
• Question 67: A basic concept of advertising that reveals the essential message an advertiser wishes to communicate is referred to as the Options:
  A) medium
  B) theme
  C) targer
  D) reach
  Show Answer
  The correct answer is A .
• Question 68:

  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
  Show Answer
  The correct answer is B .
• Question 69: The main aim of selling directly to consumers by manufactures is to Options:
  A) dis courage the activities of middlemen
  B) make contacts with comsumers
  C) eliminate transportation cost
  D) maximize the profit margin
  Show Answer
  The correct answer is A .
• Question 70: Which of the following is a function of consumerism? Options:
  A) Protecting consumers' rights
  B) providing consumers' choice
  C) providing consumers' needs
  D) Making profiteering impossible
  Show Answer
  The correct answer is A .