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 1: Which of the following is used for temporary storage of data on a computer? Options:
  A) RAM
  B) ROM
  C) Floppy disk
  D) flash drive
  Show Answer
  The correct answer is A .
• Question 2:

  Given $\frac{\text{index of export price}}{\text{index of import price}}$ X $\frac{100}{1}$

  The formula above can be used to determine the

  Options:
  A) terms of payment
  B) balance of payments
  C) tearms of trade
  D) import tariffs
  Show Answer
  The correct answer is C .
• Question 3: A bank form used to transfer money from personal to creditor's account is called? Options:
  A) debits transfer form
  B) credit transfer form
  C) customers transfer form
  D) banks transfer form
  Show Answer
  The correct answer is A .
• Question 4: Which of the following is used as pricing policy? Options:
  A) labelling
  B) packaging
  C) market selection
  D) market skimming
  Show Answer
  The correct answer is D .
• Question 5:

  The law by which a seller transfers the property in goods to a buyer at an agreed price is the

  Options:
  A) Weights and Measure Act
  B) Trade Description Act
  C) Sale of Goods Act
  D) Foods and Drugs Act
  Show Answer
  The correct answer is C .
• Question 6: The setting of objectives for an organization and determining how to accomplish them is? Options:
  A) social responsibility
  B) planning
  C) organizing
  D) decision-making
  Show Answer
  The correct answer is B .
• Question 7: The term Plc implies that the are available Options:
  A) to the public at the company
  B) privately on the stock exchange
  C) publicly on the stock exchange
  D) publicly in commericial banks
  Show Answer
  The correct answer is C .
• Question 8: A direct service is rendered by Options:
  A) State counsels
  B) Civil servants
  C) Police
  D) Family doctor
  Show Answer
  The correct answer is D .
• Question 9: One of the effects of the devaluation of the Naira is that the Options:
  A) goods that can be imported with the naira have become cheaper
  B) value of other currencies relative to the naira have become cheaper
  C) goods that can be exported from Nigeria have become costlier
  D) imports that can be bought with the naira have become costlier
  Show Answer
  The correct answer is D .
• Question 10: A lawyer that defrauds his client may be derobed by the Nigerian Bar association in order to Options:
  A) protect other lawyers
  B) protect the intergrity of the association
  C) compensate the affected client
  D) prevent the client from sueing the association
  Show Answer
  The correct answer is B .