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 1061: A communication process providing information for decision-making in an organization is the? Options:
  A) Management information System
  B) Transmission Control Protocol
  C) Information Retrieval System
  D) File Transfer Protocol
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  The correct answer is C .
• Question 1062:

  Departmentalization is an aspect of

  Options:
  A) directing
  B) organizing
  C) planning
  D) controlling
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  The correct answer is B .
• Question 1063: The major condition for obtaining loan in thrift, credit and loans cooperative societies is Options:
  A) provision of collateral security
  B) a high level of education
  C) possesssion of a large business
  D) an approved project plan
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  The correct answer is A .
• Question 1064: The insurance principle that requires full disclosure of information on the insured is known as Options:
  A) indemnity
  B) uberrimae fidei
  C) subrogation
  D) caveat emptor
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  The correct answer is B .
• Question 1065: In a public limited liability company, planning is carried out by? Options:
  A) the chairman of the board
  B) the board of directors
  C) shareholders
  D) employees
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  The correct answer is B .
• Question 1066:

  Advertisement which is geared towards a particular audience is

  Options:
  A) direct advertising
  B) indirect advertising
  C) mass advertising
  D) persuasive advertising
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  The correct answer is A .
• Question 1067: Which of the following is a function of employers’ associate? Options:
  A) undertaking research on behalf of employees
  B) promotion of thrift in workers
  C) promotion of workers'welfare
  D) Dissemination of information through sponsored journals
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  The correct answer is C .
• Question 1068: Business environment refers to all elements that are? Options:
  A) outside an organization but relevant to its operations
  B) inside an organization but irrelevant to its operations
  C) internal to an organization and relevant to its operations
  D) external to an organization but indirectly related to its operations
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  The correct answer is D .
• Question 1069: In CIF contracts, risk passes at the time of shipment but the property does not pass until? Options:
  A) there is physical transfer of goods
  B) the shipping manifest are signed
  C) the shipping documents are transferred
  D) the goods on board are delivered
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  The correct answer is B .
• Question 1070:

  The basic characteristics of co-operative society include all except one

  Options:
  A) It is managed democratically
  B) It follows the principle of one man
  C) Amateur Management
  D) Extra capital is raised through loan
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  The correct answer is C .