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 341: The three components of staffing are? Options:
  A) recruitment, interview and appointment
  B) recruitment, test and placement
  C) recruitment, selection and appointment
  D) recruitment, selection and placement
  Show Answer
  The correct answer is D .
• Question 342: The arrangement and interrelationship of the various components and positions of a business is referred to as? Options:
  A) organizational structure
  B) clarity of objective
  C) unity of direction
  D) line structure
  Show Answer
  The correct answer is A .
• Question 343: An insured risk which occurs accidentally as a result of deflects in a ship is? Options:
  A) a voyage policy
  B) a total loss
  C) an emergency
  D) a particular average
  Show Answer
  The correct answer is D .
• Question 344: Which of the following regulates and controls the activities in the Nigerian Stock Exchange? Options:
  A) BPE
  B) SEC
  C) NDIC
  D) CBN
  Show Answer
  The correct answer is B .
• Question 345: Land as a factor of production does not vary in? Options:
  A) quantity
  B) nature
  C) quality
  D) cost
  Show Answer
  The correct answer is A .
• Question 346: The characteristics which ensures that money is free from forgery is its? Options:
  A) legality
  B) durability
  C) recongnition
  D) credibility
  Show Answer
  The correct answer is A .
• Question 347: The role of customs and exercise authority includes the Options:
  A) control of the flow of goods in and out of the country
  B) control of security agents within and out of the borders
  C) provision of dockyards for ship repairs and maintenance
  D) provision of transport system to facilitate imports and exports
  Show Answer
  The correct answer is A .
• Question 348: RRF as a scheme introduced by the central bank of Nigeria means Options:
  A) recording and Rediscounting Facility
  B) refinancing and Recording Facility
  C) refinancing and Rediscounting Facility
  D) refinancing and Reinvesting Facility
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  The correct answer is D .
• Question 349: Goods discharged from ships on which import duties have not been paid are kept in the Options:
  A) ordinary warehouse
  B) public warehouse
  C) private warehouse
  D) bonded warehouse
  Show Answer
  The correct answer is D .
• Question 350: A current account holder pays fees for services in form of Options:
  A) bank charges
  B) interest rates
  C) commission on turnover
  D) minimum lending rate
  Show Answer
  The correct answer is A .