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 1221: The deliberate effort geared towards discarding some cargoes in order to lighten the vessel is Options:
  A) caveat emptor
  B) uberrimae fidei
  C) demurrage
  D) jettison
  Show Answer
  The correct answer is D .
• Question 1222:

  Extractive industries may also be denominated as

  Options:
  A) direct industries
  B) servicing industries
  C) indirect industries
  D) primary industries
  Show Answer
  The correct answer is D .
• Question 1223: A business partner who provides capital but abstains from participation in administration of a firm is a Options:
  A) general partner
  B) nominal partner
  C) secret partner
  D) dormant partner
  Show Answer
  The correct answer is D .
• Question 1224: Which of the following is NOT backed by gold but by government securites? Options:
  A) Fiduciary note
  B) Token money
  C) Commodity money
  D) Fiat money
  Show Answer
  The correct answer is A .
• Question 1225: Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that? Options:
  A) the loss should be borne by the insurer
  B) Mr. Lawal is liable only for half of the estimated loss
  C) the insurer should make a consolation payment for the loss
  D) the loss should be borne by Mr. Lawal
  Show Answer
  The correct answer is D .
• Question 1226: When an industry or company is nationalized, the state becomes Options:
  A) the major shareholder
  B) the mini shareholder
  C) the only shareholder
  D) an equal shareholder with other individuals
  Show Answer
  The correct answer is C .
• Question 1227: A historical building is a feature of? Options:
  A) cultural tourism
  B) industrial tourism
  C) agricultural tourism
  D) ecological tourism
  Show Answer
  The correct answer is A .
• Question 1228: An aspect of commerce that facilitates the distribution of products is? Options:
  A) transportation
  B) advertising
  C) branding
  D) trading
  Show Answer
  The correct answer is A .
• Question 1229: Which of the following countries are members of the lake Chad Basin Commission? Options:
  A) Niger and Cameroun
  B) Benin and Nigeria
  C) Chad and Benin
  D) Nigeria and Mali
  Show Answer
  The correct answer is A .
• Question 1230: Trading on the stock exchange in anticipation of price change in the market value of shares is? Options:
  A) speculation
  B) forecasting
  C) expectation
  D) projection
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  The correct answer is A .