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 111:

  Given:
  I. Retail
  II. Export
  III. Transport
  IV. Import
  V. Insurance
  VI. Banking and finance
  VII. Wholesale
  VIII. Communication.

  Which of the above are aids to trade?

  Options:
  A) III, V, VI and VIII
  B) I, II, III and VI
  C) I, III, V, and VI
  D) II, V, VI and VII
  Show Answer
  The correct answer is A .
• Question 112:

  A merchant wholesaler is referred to as?

  Options:
  A) del-credere agent
  B) a broker
  C) rack jobber
  D) a factor
  Show Answer
  The correct answer is D .
• Question 113:

  An activity that involves derivation of raw materials from land and sea is

  Options:
  A) agriculture
  B) farming
  C) extraction
  D) construction
  Show Answer
  The correct answer is C .
• Question 114: Freight note is a document Options:
  A) used by government to transport goods from one country to another
  B) issued by a shipping company giving details of charges
  C) used for payment for imported goods
  D) given by an importer to pay for goods at a future period
  Show Answer
  The correct answer is B .
• Question 115: In product pricing, which of this element needs more consideration than others? Options:
  A) the demand for the product
  B) the demography of the buyers of the product
  C) the economic conditions in the markkets
  D) the cost of producing the product
  Show Answer
  The correct answer is D .
• Question 116:

  Why is clear bill of lading called so?

  Options:
  A) It shows records of damaged goods
  B) It shows no records of damaged goods
  C) It is a clear bill
  D) It signifies no debt is owed
  Show Answer
  The correct answer is B .
• Question 117: Cum div differs from ex div in that, the later Options:
  A) entitles the purchaser to recieve a company's current dividend
  B) entitles the vendor to recieve a company's current dividend
  C) confirms a purchase or sale made on behalf of a share holder
  D) is a document used to transfer ownership of shares
  Show Answer
  The correct answer is A .
• Question 118: The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the? Options:
  A) National Council on Privatization
  B) Securities and Exchange Commission
  C) Nigeria Investment Promotion Commission
  D) Bureau of Public ENterprises
  Show Answer
  The correct answer is D .
• Question 119:

  A customer with XYZ Plc sent money through his account to his sister's account in another branch.

  This is an example of?

  Options:
  A) e-business
  B) e-commerce
  C) e-finance
  D) e-banking
  Show Answer
  The correct answer is D .
• Question 120:

  Which of the following attracts only interest but leaves the capital unpaid?

  Options:
  A) uberrimae fidei
  B) subrogation
  C) contribution
  D) redeemable bond
  Show Answer
  The correct answer is D .