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 191: The main purpose of branding is to Options:
  A) create identity for a product
  B) make a product look attractive
  C) create product awareness
  D) increase sales volume
  Show Answer
  The correct answer is A .
• Question 192: The type of partnership in which all partners are jointly liable in bearing risk is? Options:
  A) limited partnership
  B) partnership-at-will
  C) ordinary partnership
  D) industral partnership
  Show Answer
  The correct answer is C .
• Question 193: A distinction between Comprehensive insurance and Thrid party Insurance is that the latter covers damages Options:
  A) caused by the insured vehicle
  B) to the insured vehicle
  C) cause by the other vehicle
  D) to the driver of insured vehicle
  Show Answer
  The correct answer is A .
• Question 194: The most important reason for the existence of insurance business is to? Options:
  A) prevent the occurrence of any loss
  B) spread losses to all covered participants
  C) provide for the replacement of facilities
  D) encourage individuals to save
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  The correct answer is B .
• Question 195: The person who undertakes any risk in insurance business is known as Options:
  A) a broker
  B) an underwriter
  C) an insurer
  D) an actuary
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  The correct answer is B .
• Question 196: A supplier of flour who intends to sign a contract with a baker through post can establish a binding agreement only Options:
  A) after the offeror has made an offer
  B) when the offeror's letter has reached the offeree
  C) when the offeree's letter has been posted
  D) after the offeree's letter has been recieved by the offeror
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  The correct answer is D .
• Question 197: The right of an insurance company to stand in place of an insured against a third party , who is liable for the occurrence of a loss, is the principle of Options:
  A) proximate cause
  B) insurable interest
  C) insurance priority
  D) subrogation
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  The correct answer is C .
• Question 198: One of the functions of NACCIMA is? Options:
  A) negotiating with labour unions in matters of wages and conditions of service
  B) pooling of members' resources for long-term investment
  C) disseminating information to members on matters relating to tariffs
  D) ensuring uniformity in labour matters and industrial relations
  Show Answer
  The correct answer is D .
• Question 199: In a typical manufacturing enterprises, the line function is performed by the Options:
  A) Public relations department
  B) Marketing Department
  C) Estate or Properties Department
  D) legal Department.
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  The correct answer is B .
• Question 200: Tourists with no fixed address in a town may receive their letters from post office through a Options:
  A) poste restante
  B) parcel post
  C) private mail bag
  D) recorded delivery
  Show Answer
  The correct answer is A .