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 981: One of the requirements necessary for setting up a business is? Options:
  A) registration
  B) advertisement
  C) knowledge of the business
  D) documentation
  Show Answer
  The correct answer is C .
• Question 982: The difference between indemnity insurance and non-indemnity insurance is that the latter provides Options:
  A) cover for exporters against risks
  B) cover for importers against risks
  C) full payment to the insured
  D) consolation payment to the insured
  Show Answer
  The correct answer is D .
• Question 983: 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 984:

  One of the obstacles to achieving the objectives of ECOWAS is?

  Options:
  A) lack of a common currency
  B) colonial linkages
  C) sovereignty of state
  D) language difference
  Show Answer
  The correct answer is D .
• Question 985: Electronic computers differ and minimize errors in a? Options:
  A) faster and more accurate manner
  B) more organized manner
  C) faster but less accurate manner
  D) slower but more accurate manner
  Show Answer
  The correct answer is A .
• Question 986: The most important right of the employee in discharging his duties to the employer is the right to? Options:
  A) regular emolument
  B) job security
  C) working facilities
  D) annual leave
  Show Answer
  The correct answer is B .
• Question 987:

  A conter offer is an offer that is

  Options:
  A) different from the original offer
  B) breached
  C) different in terms of acceptance
  D) extended to several people at once
  Show Answer
  The correct answer is A .
• Question 988: The document issued to a port authority when goods are deposited is a? Options:
  A) dock landing account
  B) bill of sight
  C) bill of lading
  D) dock warrant
  Show Answer
  The correct answer is D .
• Question 989: The letters E and OE stands for __________? Options:
  A) Errors of exception
  B) Errors and omissions excepted
  C) Estimated and order error
  D) End of error
  Show Answer
  The correct answer is B .
• Question 990: Organizing trade fairs in Nigeria is the responsibility of? Options:
  A) National Directorate of Employment
  B) Federal Ministry of Commerce
  C) trade association
  D) chambers of commerce
  Show Answer
  The correct answer is B .