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 411: One way government reduces the repatriation of capital is through Options:
  A) nationalization
  B) divestiture
  C) indidenization
  D) naturalization
  Show Answer
  The correct answer is C .
• Question 412: In product pricing, which of these elements need more consideration than others? Options:
  A) The cost of producing the product
  B) The economic conditions in the market
  C) the demography of the buyers of the product
  D) The demand for the product
  Show Answer
  The correct answer is A .
• Question 413: The sum of money paid by a policy-holder to an insurer is referred to as? Options:
  A) interest
  B) premium
  C) gross profit
  D) sales revenue
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  The correct answer is B .
• Question 414:

  A pro forma invoice is sent to inform a buyer about the?

  Options:
  A) quantity of goods
  B) price of goods
  C) designation of goods
  D) quality of goods
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  The correct answer is B .
• Question 415: The main function of thrift, credit and loans co-operative societies is to Options:
  A) educate their members
  B) collect money from their members
  C) disburse money to their members
  D) raise investment finance among thir members
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  The correct answer is D .
• Question 416: The document that gives an importer a freehand to obtain goods from any manufacturer is? Options:
  A) a consular invoice
  B) a closed indents
  C) an open indent
  D) a freight note
  Show Answer
  The correct answer is C .
• Question 417: One advantage of personal selling over all other elements of promotion is that Options:
  A) it can provide instant feedback
  B) it is very cheap in terms of cost per contact
  C) it does not need to use mass media
  D) sales people are wewll trained
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  The correct answer is A .
• Question 418:

  When does production ends?

  Options:
  A) When the goods are distributed to the wholesalers
  B) When the goods reaches the retailer
  C) When the goods reaches the final consumers
  D) When the goods are fully packaged
  Show Answer
  The correct answer is C .
• Question 419: In the event of the liquidation of a company, the first to be settled are? Options:
  A) debenture holders
  B) members of the board
  C) preference shareholders
  D) ordinary shareholders
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  The correct answer is A .
• Question 420: A process of creating more market for a product is through? Options:
  A) consumerism
  B) marketing
  C) advertising
  D) reponsitioning
  Show Answer
  The correct answer is C .