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 261:

  Mr. Olatunde took up a fire insurance on a property valued at ₦1000 and the amount insured is ₦80. Thee ₦400. If the property caught fire causing a loss of insurance was taken with the clause with average what is the amount to be paid bý the insurance company?

  Options:
  A) ₦420
  B) ₦320
  C) ₦460
  D) ₦560
  Show Answer
  The correct answer is B .
• Question 262: The business in the stock exchange is characterized essentially by Options:
  A) dealing
  B) brokerage
  C) speculations
  D) transactions
  Show Answer
  The correct answer is A .
• Question 263: Which of the following services does a lawyer render? Options:
  A) industrial services
  B) indirect services
  C) direct services
  D) commercial services
  Show Answer
  The correct answer is C .
• Question 264: The media media used for inter-departmental communication include? Options:
  A) circulars, advertisement and notice boards
  B) memoranda, circulars and the telephone
  C) memoranda, advertising and face-to-face
  D) momoranda, advertising and the grapevine
  Show Answer
  The correct answer is B .
• Question 265:

  The arrangement and interrelationship of the various components and positions of a business is referred to as

  Options:
  A) line structure
  B) unity of direction
  C) organisational structure
  D) clarity of objective
  Show Answer
  The correct answer is C .
• Question 266:

  Commerce brings about all except one

  Options:
  A) International co-operation
  B) Improvement in the standard of living
  C) Monotony of work
  D) Infrastructural development
  Show Answer
  The correct answer is C .
• Question 267: An agent who takes tittle to goods and has authority to buy and sell on behalf of another is? Options:
  A) a jobber
  B) a broker
  C) a factor
  D) an auctioneer
  Show Answer
  The correct answer is C .
• Question 268: Securities that entitle the investor to coupon rates are Options:
  A) bonds
  B) equities
  C) warrants
  D) treasury bills
  Show Answer
  The correct answer is B .
• Question 269: Government policies relating to the establishment and operation of business are targeted at Options:
  A) increasing the profit of business owners
  B) the general improvement of the economy
  C) even spread of facilities and employment
  D) diversification and expansion of business
  Show Answer
  The correct answer is B .
• Question 270: The main advantage of a sole trader is the freedom to Options:
  A) employ anyone he likes
  B) seek advice from any source
  C) take quick decisions
  D) plough all the profits back into the business
  Show Answer
  The correct answer is C .