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 1161:

  The function of a merchant wholesaler is to

  Options:
  A) find markets for producers' finished goods
  B) bring buyers and sellers together
  C) possess title to the goods, store and sell to retailers
  D) buy in bulk, store and sell to retailers as desired
  Show Answer
  The correct answer is C .
• Question 1162: In every simple contract, the price which is paid to purchase a promise is called Options:
  A) offeree
  B) acceptance
  C) consideration
  D) representation
  Show Answer
  The correct answer is C .
• Question 1163:

  Which of the following is not a right of a consumer?

  Options:
  A) Right to a fair hearing
  B) Right to buy on credit
  C) Right to obtain replacement
  D) Right to safe product
  Show Answer
  The correct answer is B .
• Question 1164:

  I. Wholesaler

  Ii. Fishing

  Iii. Canning

  Iv. Retailing

  The sequence in which the occupational activities above are performed is?

  Options:
  A) iii, ii, i and iv
  B) iii, i, iv and ii
  C) i, ii, iii and iv
  D) ii, iii, i and iv
  Show Answer
  The correct answer is D .
• Question 1165: The market where only indigenous firms are considered is the? Options:
  A) money market
  B) second-tier securities market
  C) local market
  D) stock exchange
  Show Answer
  The correct answer is B .
• Question 1166: 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 1167: One of the obligations of an employer to an employee is to? Options:
  A) indemnify him against liabilities incurred on duty
  B) award scholarship to his children
  C) terminate his appointment without prior notice
  D) indemnity himagainst injuries caused through negligence
  Show Answer
  The correct answer is A .
• Question 1168: Leasing is the right to use asset for an agreed period in return for Options:
  A) profit
  B) interest
  C) wages
  D) rents
  Show Answer
  The correct answer is D .
• Question 1169: The compensation the insured gets depends heavily on the? Options:
  A) economic situation
  B) premium paid
  C) risk suffered
  D) insurer's bouyancy
  Show Answer
  The correct answer is B .
• Question 1170:

  Trade fairs in Nigeria are organized by

  Options:
  A) Ministry of Commerce and Industry
  B) Chambers of Commerce
  C) The Federal Government
  D) Manufacturer’s Association of Nigeria
  Show Answer
  The correct answer is B .