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 71:

  

  Use the above table to answer this question.

  What insurance principle has Mr P Violated if he decides to overstate the actual value of his property?

  Options:
  A) Indemnity
  B) Insurable interest
  C) Uberrimae fidei
  D) Subrogation
  Show Answer
  The correct answer is C .
• Question 72: The availability of goods and services is brought to the notice of customers through? Options:
  A) personal selling
  B) public relations
  C) the telephone
  D) advertising
  Show Answer
  The correct answer is D .
• Question 73:

  A document that embody the conditions and exceptions attached to the contract is

  Options:
  A) proposal form
  B) cover note
  C) the policy
  D) insurance certificate
  Show Answer
  The correct answer is C .
• Question 74: The stock Exchange helps to provide capital for of industrial project because it Options:
  A) determines value of shares, stocks and other securities
  B) assist government in implementing its monetary plicies
  C) assist companies to exchange their securities into cash
  D) renders agency services to organizations and government
  Show Answer
  The correct answer is C .
• Question 75: A Major funtion of commerce is to Options:
  A) facilitiate human satisfaction through exchange
  B) eliminate trade barriers
  C) provide raw materials for manufacturers
  D) influence government policies
  Show Answer
  The correct answer is A .
• Question 76:

  

  The chart above represent the?

  Options:
  A) product mix relationship
  B) marketing mix relationship
  C) promotion mix elationship
  D) advertising mix relationship
  Show Answer
  The correct answer is B .
• Question 77: DFischarging certian duties by an organization to the public to gain high patronage is a concern of financial resposibility Options:
  A) financial responsibility
  B) economic responsibility
  C) legal responsibility
  D) social responsibility
  Show Answer
  The correct answer is D .
• Question 78:

  One of the merits of television as a medium of advertising is that it

  Options:
  A) is prone to censorship
  B) is relatively cheap
  C) has more network coverage
  D) has more sensory stimulation
  Show Answer
  The correct answer is D .
• Question 79: Which of the following confirms the accuracy of the duty charged on imported goods? Options:
  A) An indent
  B) Consular invoice
  C) Consignment note
  D) Shipping note
  Show Answer
  The correct answer is B .
• Question 80: The type of partnership in which all partners are jointly liable in bearing risk is? Options:
  A) limited partnership
  B) partnership-at-will
  C) ordinary partnership
  D) industral partnership
  Show Answer
  The correct answer is C .