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 1201:

  The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is

  Options:
  A) indemnity
  B) contribution
  C) proximate cause
  D) uberrimae fidei
  Show Answer
  The correct answer is B .
• Question 1202: One of the functions of a retailer is the? Options:
  A) financing of production activities
  B) provision of credit facilities to relations
  C) provision of jobs for customers
  D) breaking of bulk
  Show Answer
  The correct answer is D .
• Question 1203: A company has an authorized capital of 40 million shares at N1 each, out f which 32 million are issued and fully paid-up. What happens to the remaining 8 million shares? Options:
  A) it has been issued but not paid-up
  B) it has been applied for but not issued
  C) it is not paid-up
  D) it has not yet been issued
  Show Answer
  The correct answer is D .
• Question 1204: The main concern of marketing concept is to? Options:
  A) reduce the number of retail outlets
  B) identify consumer needs and satisfy them
  C) increase sales to meet consumers needs
  D) encourage division of labour
  Show Answer
  The correct answer is B .
• Question 1205: The practice of assessing employees for payment or advancement according to their observed achievement is called Options:
  A) employee ranking
  B) merit rating
  C) job grading
  D) employee education
  Show Answer
  The correct answer is C .
• Question 1206: Cooperation and friendliness are enhanced among nations through interdependence necessitated by Options:
  A) tourism
  B) commerce
  C) agriculture
  D) socio-cultural activities
  Show Answer
  The correct answer is B .
• Question 1207: Second-tier securities market differs from the first-tier securities market in that the former is Options:
  A) highly restricted
  B) Regulated by SEC
  C) Regulated by NIPC
  D) less restricted.
  Show Answer
  The correct answer is A .
• Question 1208: Which of the following group of countries are members of the Niger Basin Commission? Options:
  A) The republic of Guinea, Burkina Faso and Nigeria
  B) Ghana, liberia, and the republic of Benin
  C) Mali, Liberia and Nigeria
  D) Ghana , Burkina Faso and Chad
  Show Answer
  The correct answer is A .
• Question 1209: The proposed monetary integration within ECOWAS sub-region has the overriding benefit of a Options:
  A) improved exchange
  B) enhanced trade
  C) enhance development
  D) improved relations
  Show Answer
  The correct answer is B .
• Question 1210:

  All activities that contribute towards making goods and services available to the people are

  Options:
  A) Economic activities
  B) Political activities
  C) Productive activities
  D) Business activities
  Show Answer
  The correct answer is C .