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 1001: Under the endowment policy, the money handed over to the insured at the expiration of the stipulated time or at death is the? Options:
  A) indemnity
  B) surrender value
  C) lump sum benefit
  D) insurance premium
  Show Answer
  The correct answer is C .
• Question 1002: Invisible imports consist of? Options:
  A) cement, shipping and consultancy services
  B) banking, drinks , insurance and technical services
  C) consultant services, tourism and banking
  D) tourism, banking and canned food and cement
  Show Answer
  The correct answer is C .
• Question 1003: When an industry or company is nationalized, the state becomes Options:
  A) the major shareholder
  B) the mini shareholder
  C) the only shareholder
  D) an equal shareholder with other individuals
  Show Answer
  The correct answer is C .
• Question 1004:

  The quality of money which makes it possible to buy goods in small quantities is

  Options:
  A) portability
  B) homogeneity
  C) divisibility
  D) durability
  Show Answer
  The correct answer is C .
• Question 1005: A liquidator's fee is to be charged to the? Options:
  A) realization account
  B) trading account
  C) revaluation account
  D) reconstruction account
  Show Answer
  The correct answer is A .
• Question 1006: An example of service rendered by NIPOST is? Options:
  A) electronic mail
  B) couier
  C) telephone
  D) mail delivery
  Show Answer
  The correct answer is D .
• Question 1007: A machine which enables sales without the physical presence of sales attendant is a Options:
  A) Telex Machine
  B) Fax Machine
  C) Vending Machine
  D) Computer machine
  Show Answer
  The correct answer is C .
• Question 1008: The government agency involved in issuing of export licences is _______? Options:
  A) Nigeria Export Processing Zone
  B) Nigeria Export Promotion council
  C) Nigeria Port Authority
  D) Customs and Excise Authority
  Show Answer
  The correct answer is B .
• Question 1009:

  The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be________

  Options:
  A) The type of insurance policy that is compulsory in International trade so that all goods passing through the sea must be covered is considered to be
  B) Aviation Insurance
  C) Marine Insurance
  D) Life Assurance
  Show Answer
  The correct answer is C .
• Question 1010: The distribution of petroleum products in Nigeria is through Options:
  A) rail
  B) road
  C) sea
  D) air
  Show Answer
  The correct answer is D .