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 841: The insurance policy which provides full cover against all risks at sea is known as Options:
  A) Policy with Particular Average
  B) Policy Free of Particular Average
  C) Marine Freight Insurance
  D) Marine Voyage Policy Insurance
  Show Answer
  The correct answer is D .
• Question 842:

  NAME	INSURED AMOUNT(₦)	ACTUAL VALUE(₦)	ACTUAL LOSS(₦)
  Mr. P Mr. K Mr. R	25,000 30,000 40,000	100,000 120,000 150,000	30,000 40,000 50,000

  What insurance principle has Mr. R violated if he decides to overstate the actual value of his property?

  Options:
  A) insurable interest
  B) uberrimae fidei
  C) subrogation
  D) indemnity
  Show Answer
  The correct answer is B .
• Question 843: The production process that combines two or more raw materials into one end product is Options:
  A) conditioning
  B) blending
  C) merging
  D) synthesis
  Show Answer
  The correct answer is B .
• Question 844: Warehousing is important to manufacturers because it helps to? Options:
  A) improve the quality of goods
  B) produce goods in advance
  C) meet the demand of customers
  D) determine input rquirements
  Show Answer
  The correct answer is B .
• Question 845: Rights issue means the Options:
  A) issue of shares to the directors of a company on favourable terms
  B) Issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favourable terms
  Show Answer
  The correct answer is D .
• Question 846: Chinyere agree to make a dress for Halima with September 20, 1995 as the delivery date. If the dress was not ready on that date, Halima could Options:
  A) sue Chinyere for damages
  B) sue Chinyere for specific performance
  C) seize another gown from Chinyere's shop
  D) regard the contract between them as terminated
  Show Answer
  The correct answer is B .
• Question 847: The type of activity which turns processed raw materials into consumer and industrial goods is described as Options:
  A) extractive
  B) manufacturing
  C) constructive
  D) processing
  Show Answer
  The correct answer is B .
• Question 848: The components of capital employed in a business are? Options:
  A) owners' equity and long-term debts
  B) total assets and current liabilities
  C) share capital and long-term debts
  D) share capital and current liabilities
  Show Answer
  The correct answer is B .
• Question 849: Consumerism aims at protecting the consumer from? Options:
  A) harmful products
  B) drug addiction
  C) smoking cigarettes
  D) alcohol consumption
  Show Answer
  The correct answer is A .
• Question 850:

  An undertaking given by a person to another assuring his integrity is

  Options:
  A) proximate cause
  B) insurable interest
  C) fidelity guarantee
  D) subrogation
  Show Answer
  The correct answer is C .