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 41: What is the most important use of promotion in marketing? Options:
  A) Persuasion
  B) Conviction
  C) Information
  D) Education
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  The correct answer is C .
• Question 42: Rights issue means the Options:
  A) issue of shares to the directors of a company on favourable terms
  B) Issue of shares by a company only to the founders of the company
  C) right of shareholders to vote on any issue
  D) issue of shares to shareholders on favourable terms
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  The correct answer is D .
• Question 43: Assurance is different from insurance in that the former is based on Options:
  A) probability
  B) possibility
  C) risk
  D) uncertainty
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  The correct answer is B .
• Question 44: A wholesaler who possesses the title of goods he sells is known as? Options:
  A) a merchant wholesaler
  B) a multiple wholesaler
  C) a general wholesaler
  D) an agent wholesaler
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  The correct answer is A .
• Question 45: Which of these insurance principles requires a close connection between the actual loss suffered and the risk insured? Options:
  A) indemnity
  B) proximate cause
  C) Contribution
  D) Subrogation
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  The correct answer is B .
• Question 46: On liquidation of a public limited liability company, the residual owners are the Options:
  A) creditors
  B) ordinary shareholders
  C) preference shareholders
  D) debenture holders
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  The correct answer is B .
• Question 47:

  Commerce is defined as

  Options:
  A) buying and selling of goods and services only
  B) all activities in the distribution and exchange of goods and services
  C) all activities involved in the production of goods and services
  D) transporting and warehousing of goods only
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  The correct answer is B .
• Question 48:

  A paid presentation about a product with a view to encouraging purchases by an identifiable sponsor is

  Options:
  A) publicity
  B) personal selling
  C) sales promotion
  D) advertisement
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  The correct answer is D .
• Question 49: The principle of insurance which entitles an insurance company to take any advantage due to the insured after full indemnity is? Options:
  A) contribution
  B) subrogation
  C) promiate cause
  D) utmost good faith
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  The correct answer is B .
• Question 50: The development of commercial activities in Nigeria was facilitated largely by Options:
  A) a good transport system
  B) the indigenization decree
  C) a convenient medium of exchange
  D) a high level of production
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  The correct answer is C .