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 rate at which a central bank discount first class bills is called the Options:
  A) fixed rate
  B) bill rate
  C) bank rate
  D) interest rate
  Show Answer
  The correct answer is C .
• Question 192: An agent must not make any secret profit in the performance of his duties but can be rewarded by his principal through Options:
  A) remuneration and indemnity
  B) payments of commision and salary
  C) granting of business concessions
  D) forwarding of business links
  Show Answer
  The correct answer is B .
• Question 193:

  A common requirement for public and private limited companies in Nigeria is that

  Options:
  A) a shareholder cannot transfer his shares to someone else without permission from other shareholders
  B) shares cannot be offered or sale on the stock exchange
  C) their annual accounts are made available to the corporate affairs commission
  D) shares can be offered for sale through an issuing house
  Show Answer
  The correct answer is C .
• Question 194:

  Dealers in stock exchange such as bulls, bears and stags are categorized as

  Options:
  A) actuaries
  B) promoters
  C) speculators
  D) underwriter
  Show Answer
  The correct answer is C .
• Question 195: Ships used for international transport are? Options:
  A) trawelers
  B) yachets
  C) ocean liners
  D) launchers
  Show Answer
  The correct answer is C .
• Question 196:

  The main advantage of a sole trader is the freedom to?

  Options:
  A) employ anyone he likes
  B) take quick decision
  C) seek advise from any source
  D) plough all the profits
  Show Answer
  The correct answer is B .
• Question 197: An agreement to sell is distinguishable from sale because in the former, the transfer of goods is Options:
  A) not anticipated
  B) not discussed
  C) deferred
  D) immediate
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  The correct answer is C .
• Question 198: A crossed cheque with the inscription 'not negotiable' must be paid into the? Options:
  A) current account of the drawer
  B) current account of the payee
  C) savings account of the payee
  D) fixed account of the payee
  Show Answer
  The correct answer is B .
• Question 199: A business whose owners enjoys loan facilities on the basis of personal goodwill is a? Options:
  A) commercial bank
  B) thrift society
  C) co-operative society
  D) community bank
  Show Answer
  The correct answer is B .
• Question 200: The primary objective of consumer protection laws is to ensure that? Options:
  A) consumers derive maximum satisfaction from goods and services
  B) consumers buy goods and services at cheap rates
  C) manufacturers of goods and services provides overcome internal competition
  D) manufacturers of goods and services provides gets optimum profit
  Show Answer
  The correct answer is A .