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 21: Mrs Jones who lives in the riverine community of Rivers State makes her living through crabbing and fishing . This type of occupation she is in is Options:
  A) commercial
  B) manufacturing
  C) service
  D) extractive
  Show Answer
  The correct answer is D .
• Question 22:

  Payment made to a carrier for transportation of goods is

  Options:
  A) freight
  B) fee
  C) fare
  D) duty
  Show Answer
  The correct answer is A .
• Question 23:

  Examples of Commercial occupation are all except___________

  Options:
  A) Bankers
  B) Traders
  C) Insurers
  D) Goldsmith
  Show Answer
  The correct answer is D .
• Question 24:

  Transportation, retailing and wholesaling industries rely heavily on?

  Options:
  A) banking
  B) insurance
  C) manufacturing
  D) railway
  Show Answer
  The correct answer is C .
• Question 25: A business organization that exploits the capabilities of a member to remedy the weaknesses of another is Options:
  A) joint venture
  B) partnership
  C) nominal partnership
  D) cooperative
  Show Answer
  The correct answer is D .
• Question 26: The differences between the central bank and commercial bank is that the former ______ Options:
  A) discount treasury bills
  B) give loans to the public
  C) saves valuable of individual
  D) serves as lender of last resort
  Show Answer
  The correct answer is D .
• Question 27: A major advantage of a cooperative society is that it? Options:
  A) gives members the opportunity to unite
  B) draws members closer to government
  C) promotes awareness among members
  D) encourages thirft among members
  Show Answer
  The correct answer is D .
• Question 28: The main factors that determine the value of a stock on the stock Exchange are dividend and Options:
  A) the psychology of the market
  B) capital gain
  C) capital appreciation
  D) warrant payment
  Show Answer
  The correct answer is C .
• Question 29:

  The quality of money which makes it possible to buy goods in small quantities is

  Options:
  A) portability
  B) homogeneity
  C) divisibility
  D) durability
  Show Answer
  The correct answer is C .
• Question 30: A chamber of commerce is an association made up of Options:
  A) enterpreneurs
  B) manufacturers
  C) merchants
  D) importers
  Show Answer
  The correct answer is A .