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 1321:

  

  Use the diagram above to answer this question

  In the communication process, Y represents

  Options:
  A) the encoder
  B) the initiator
  C) noise
  D) the medium
  Show Answer
  The correct answer is D .
• Question 1322: The members of the Niger Basin Commission include? Options:
  A) Guinea, Ghana and Niger Republic
  B) Burkina Faso, Guinea and Nigeria
  C) The Gambia, Benin Republic and Chad
  D) Nigeria, Benin Republic and Chad Republic
  E) Nigeria, the Gambia and Cameroun
  Show Answer
  The correct answer is B .
• Question 1323: Marketing differs from selling in that,the latter only creates Options:
  A) possession utility
  B) marginal utility
  C) form utility
  D) place utility
  Show Answer
  The correct answer is A .
• Question 1324:

  Which of the following is a verbal means of communication

  Options:
  A) Telephone
  B) Express mail
  C) Business reply services
  D) Telex
  Show Answer
  The correct answer is A .
• Question 1325:

  The internet is a system of telecommunication used for

  Options:
  A) The internet is a system of telecommunication used for
  B) Communicating long distance messages
  C) Sending and receiving text messages
  D) Communicating messages through telegrams
  Show Answer
  The correct answer is A .
• Question 1326:

  The Central Bank Monetary policy instrument by which it buys and sells securities is called

  Options:
  A) Bank rate
  B) Cash reserve ratio
  C) Open market operation
  D) Bank credit
  Show Answer
  The correct answer is C .
• Question 1327: What document is required when a country imposes valorem import duties on goods? Options:
  A) mail transfer
  B) shipping note
  C) bill of lading
  D) consular invoice
  Show Answer
  The correct answer is B .
• Question 1328: The scope of commerce is limited to ________ Options:
  A) wholesale and entrepot trade
  B) trade and aids-to-trade
  C) wholesale and retail trade
  D) home and foreign trade
  Show Answer
  The correct answer is B .
• Question 1329:

  

  Use the above table to answer this question.

  What insurance principle has Mr P Violated if he decides to overstate the actual value of his property?

  Options:
  A) Indemnity
  B) Insurable interest
  C) Uberrimae fidei
  D) Subrogation
  Show Answer
  The correct answer is C .
• Question 1330: A type of long-term loan granted to companies with fixed interest rate as well as with redeemable and irredeemable features is referred to as projects. Options:
  A) debenture
  B) a bond
  C) a term loan
  D) an overdraft
  Show Answer
  The correct answer is A .