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:

  A partner who contributes only his name to the formation of a partnership is

  Options:
  A) a nominal partner
  B) a limited partner
  C) a general partner
  D) an active partner
  Show Answer
  The correct answer is A .
• Question 22:

  The face-to-face meeting of the seller with the buyer for the purpose of making sales is

  Options:
  A) mass selling
  B) impulse buying
  C) personal selling
  D) sale promotion
  Show Answer
  The correct answer is C .
• Question 23: The principle of subrogation states that Options:
  A) an insured person should be indemnifed to the tune of the amount insured
  B) an insurance company can stand in place of the insured in dealing with third party
  C) oly a person who is likely to sufferrd loss should take take out an insurance cover
  D) ther must be a close connection between the actual loss suffered and risk insured
  Show Answer
  The correct answer is B .
• Question 24:

  A bear market is said to be in existence in a period of

  Options:
  A) Boom
  B) Stump
  C) Bullish
  D) Stagflation
  Show Answer
  The correct answer is B .
• Question 25: Which of the following is a matter of personal preference on the part of a superior officer? Options:
  A) Unity of command
  B) Span of control
  C) Delegation of anthority
  D) Unity of direction
  Show Answer
  The correct answer is C .
• Question 26:

  The assembling of Manufactured products into forms usable by humans is classified as

  Options:
  A) Extraction occupation
  B) Construction occupation
  C) Manufacturing occupation
  D) Industrial occupation
  Show Answer
  The correct answer is B .
• Question 27: A trader who gives credit stands to enjoy? Options:
  A) higher profit
  B) cash discount
  C) increased sles
  D) trade discount
  Show Answer
  The correct answer is C .
• Question 28:

  Which of the following has power to order withdrawal of a particular food item from circulation?

  Options:
  A) Food and Drug Department of the Federal Ministry of Health
  B) Federal High Courts in Nigeria
  C) Standard Organization of Nigeria
  D) Local Government Health Inspectors
  Show Answer
  The correct answer is A .
• Question 29: Which of the middlemen in the channel of distribution has tittle to the goods he distributes? Options:
  A) The merchant wholesaler
  B) The agent
  C) The limited wholersaler
  D) The retailer
  Show Answer
  The correct answer is A .
• Question 30: Which of the following document permit an importer to inspect his goods before the arrival of the bill of lading? Options:
  A) Bill of sight
  B) Import invoice
  C) Consular invoice
  D) Bill of exchange
  Show Answer
  The correct answer is C .