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 81: Securities on which the buyers are not issued with certificate are called? Options:
  A) authorized securities
  B) inscribed securities
  C) bearer securities
  D) registered securities
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  The correct answer is B .
• Question 82: A distinguishing characteristic of labour is that it is Options:
  A) constant
  B) expensive
  C) mobile
  D) cost
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  The correct answer is C .
• Question 83: The conversion of raw materials into finished goods leads to the creation of? Options:
  A) form utility
  B) product utility
  C) possession utility
  D) place utility
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  The correct answer is A .
• Question 84: Goods are of merchantable quality if they? Options:
  A) conform to description
  B) are of equal weight
  C) are of the same quality
  D) conform to buyers' purpose
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  The correct answer is A .
• Question 85: Hire purchase is beneficial to the seller because? Options:
  A) it enhances his living standard
  B) it increases his turnover
  C) people pay instalmentally
  D) of the patronage he enjoys
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  The correct answer is B .
• Question 86: One of the functions of seaports is the provision of? Options:
  A) berthing and landing facilities
  B) loading and off-loading facilities
  C) control room for relaying radio messages
  D) warehouses for storage of cargo
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  The correct answer is B .
• Question 87: A document which gives a legal status to a company is the certificate of? Options:
  A) incorporation
  B) trading
  C) commencement of business
  D) business registration
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  The correct answer is A .
• Question 88:

  The type of letters that are delivered through the normal mail or by airmail express service is referred to as

  Options:
  A) express letters
  B) registered letters
  C) inland letters
  D) airmail letters
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  The correct answer is C .
• Question 89: A guarantee given by one person or party to another in which the integrity of the person is assured is? Options:
  A) fidelity
  B) term assurance
  C) subrogation
  D) indemnity
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  The correct answer is A .
• Question 90: The difference between trademark and patent right is that the latter? Options:
  A) gives exclusive right to import a particular good
  B) is conferred by the government
  C) confers monopoly on a product
  D) confers exclusive right to publish literary works
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  The correct answer is C .