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: The making of doors from timber planks is a type of? Options:
  A) manufacturing
  B) tertiary production
  C) secondary produuction
  D) primary production
  Show Answer
  The correct answer is C .
• Question 42: A direct service is rendered by Options:
  A) State counsels
  B) Civil servants
  C) Police
  D) Family doctor
  Show Answer
  The correct answer is D .
• Question 43: An agent who takes title to goods and has authority to buy and sell on behalf of another is Options:
  A) A jobber
  B) A broker
  C) A factor
  D) An auctioneer
  Show Answer
  The correct answer is A .
• Question 44: A proposed company may not be registered if? Options:
  A) the name conficits with that of another
  B) it does not put 'limited' after its proposed name
  C) it has no paid-up capital
  D) it has no asset of its own
  Show Answer
  The correct answer is A .
• Question 45: The type of activity which turns processed raw materials into consumer and industrial goods is described as Options:
  A) extractive
  B) manufacturing
  C) constructive
  D) processing
  Show Answer
  The correct answer is B .
• Question 46:

  $\begin{array}{cccc}\text{Name}& \text{Insure amount}& \text{Actual value}& \text{Actual loss}\\ \text{Mr A}& 30,000& 100,000& 40,000\\ \text{Mr B}& 40,000& 120,000& 50,000\\ \text{Mr C}& 50,000& 15,000& 70,000\end{array}$

  If Mr A takes a fire insurance policy with average clause, his compensation will be

  Options:
  A) N15,000
  B) N20,000
  C) N12,000
  D) N25, 000
  Show Answer
  The correct answer is C .
• Question 47:

  

  What is the capital employed?

  Options:
  A) N 200 000
  B) N 340 000
  C) N 170 000
  D) N 300 000
  Show Answer
  The correct answer is D .
• Question 48: When an employee incurs expenses while executing his normal duty, the employer is responsible for his? Options:
  A) safety
  B) family's security
  C) family's welfare
  D) ìdemnification
  Show Answer
  The correct answer is D .
• Question 49: The difference between a private are public limited liability company is that the former Options:
  A) Is unable to declare and pay dividend.
  B) Has a higher number of share holder
  C) Is unable to offer shares to the public.
  D) pays higher salaries to its member
  Show Answer
  The correct answer is C .
• Question 50: The least of the advantages of indigenization is that Options:
  A) the standard of living of the indigenes is improved
  B) the economy is controlled by the nationals
  C) enterpreneurals skill is developped
  D) foreigners' domination is avoided
  Show Answer
  The correct answer is A .