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 791: Which of the following legislation aims primarily at the protection of consumers? Options:
  A) Law of contract
  B) Trade description Act
  C) Company's Act
  D) Partnership Act
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  The correct answer is B .
• Question 792: The term free on board means that the price includes? Options:
  A) costs and insurance only
  B) costs and freight only
  C) freight and insurance only
  D) costs, insurance and freight
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  The correct answer is D .
• Question 793: The art of soaping-making is an example of? Options:
  A) primary occupation
  B) secondary occcupation
  C) tertiary occupation
  D) construction occupation
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  The correct answer is B .
• Question 794: The major achievement of ECOWAS is? Options:
  A) the expansion of regional trade
  B) the emergance of a monetary union
  C) infrastructural development in member countries
  D) mobility of labour among member countries
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  The correct answer is A .
• Question 795: The principal objectives of the Central Bank of Nigeria can be classified broadly into? Options:
  A) bankers' bank lender of last resort and issuance of currency
  B) service, currency management and financial intermediation
  C) banking services, foreign exchange operations and open markets operations
  D) service, monetary policy and developmental functions
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  The correct answer is A .
• Question 796: The major participants in the stock market when stock prices are rising generally are the? Options:
  A) bulls
  B) registrars
  C) bears
  D) companies
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  The correct answer is A .
• Question 797: A disadvantage of personal selling is that it Options:
  A) increase a company's operating cost
  B) decreases acompany's operating cost
  C) increase a company's number of customers
  D) reduces a company's area of patronage
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  The correct answer is D .
• Question 798: Under what management function would the motivation employees fall? Options:
  A) Staffing
  B) Controlling
  C) Organizing
  D) Directing
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  The correct answer is A .
• Question 799:

  The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

  Options:
  A) indemnity
  B) contribution
  C) proximate cause
  D) uberrimae fidei
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  The correct answer is B .
• Question 800: If a partnership deed is silent on how profits are to be shared, partners share profits Options:
  A) in the ratio of the value of business secured by each partner for the partnership
  B) in the ratio of partner capital contributions
  C) in an equal proportion irrespective of partners's capital contributons
  D) according to duties performed by each partner
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  The correct answer is C .