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 1091: Most foreign trade transaction are paid for through the use of Options:
  A) central bank cheques
  B) bank drafts drawn by commercial banks on their foreign branches
  C) irrevocable and confirmed letters of credit
  D) letters of credit authenticated by the embassies of the respective countries
  Show Answer
  The correct answer is C .
• Question 1092: 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 1093: An agreement to sell is distinguishable from sale because in the former, the transfer of goods is Options:
  A) not anticipated
  B) not discussed
  C) deferred
  D) immediate
  Show Answer
  The correct answer is C .
• Question 1094:

  The type of occupation that a broker belongs to is

  Options:
  A) commercial
  B) construction
  C) extraction
  D) manufacturing
  Show Answer
  The correct answer is A .
• Question 1095: The forum for the selling and buying of securities of small and medium companies is called. Options:
  A) Securities and Exchange Commission
  B) Second tier Security Market
  C) Foreign exchange Market
  D) Second tier foreign Exchange market
  Show Answer
  The correct answer is B .
• Question 1096:

  Which of the following organizations provide essential goods and services at low cost to citizens?

  Options:
  A) Thrift societies
  B) Public enterprises
  C) Private companies
  D) Cooperative societies
  Show Answer
  The correct answer is B .
• Question 1097:

  A retail store that sells a single product from a particular manufacturer is a

  Options:
  A) tied shop
  B) shopping mail
  C) hypermarket
  D) chain store
  Show Answer
  The correct answer is D .
• Question 1098: The activities of consumers association in Nigeria have not been effective because Options:
  A) the consumers are too many
  B) the government is not favourabley dispose towards consumerism
  C) there is poor enlightenment about consumer rights
  D) the consumers have no medium for expressing their feelings
  Show Answer
  The correct answer is D .
• Question 1099: Unresolved disputes between the employer and employees are usually referred to the? Options:
  A) code of conduct bureau
  B) personnel unit
  C) disciplinary committee
  D) industrial arbitration tribunal
  Show Answer
  The correct answer is D .
• Question 1100: An example of a service-rendering trade association is? Options:
  A) Nigeria Bar Association
  B) Association of Nigeria Miners
  C) Cocoa Farmers' Association
  D) Manufacturers' Association of Nigeria
  Show Answer
  The correct answer is A .