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 management function which involves measuring outcomes and taking corrective action to reduce error is

  Options:
  A) staffing
  B) organizing
  C) directing
  D) controlling
  Show Answer
  The correct answer is D .
• Question 42: A business firm that is involved in conveying goods or people is known as a? Options:
  A) consignor
  B) commercial firm
  C) carrier
  D) transporter
  Show Answer
  The correct answer is C .
• Question 43: Second-tier Securities Market differ from the First-tier Securities Market in that the former is? Options:
  A) highly restricted
  B) regulated by the SEC
  C) regulated by the NIPC
  D) less restricted
  Show Answer
  The correct answer is A .
• Question 44: The most dangerous pollution is? Options:
  A) water
  B) noise pollution
  C) soil pollution
  D) air pollution
  Show Answer
  The correct answer is D .
• Question 45: A floating policy is an example of? Options:
  A) marine insurance
  B) actuaries insurance
  C) motor insurance
  D) fire insurance
  Show Answer
  The correct answer is B .
• Question 46:

   The first known legislation to protect consumer rights in Nigeria is the? 

  Options:
  A) usury laws
  B) sale of goods act
  C) hire purchase act
  D) food and drugs act
  Show Answer
  The correct answer is B .
• Question 47:

  The quality of money which makes it possible to buy goods in small quantities is

  Options:
  A) portability
  B) homogeneity
  C) divisibility
  D) durability
  Show Answer
  The correct answer is C .
• Question 48: One of the major determinants of the volume of production is Options:
  A) the market size
  B) the availability of banks
  C) sex distribution
  D) government policy
  Show Answer
  The correct answer is A .
• Question 49: The body regulating the sale and purchase of shares in Nigeria is the Options:
  A) Corporate affair commission
  B) Securities and exchange commission
  C) Securities and exchange tribunal
  D) Nigerian stock exchange
  Show Answer
  The correct answer is B .
• Question 50:

  __________ is a source of short term capital?

  Options:
  A) Shares
  B) Overdraft
  C) debenture
  D) leasing
  Show Answer
  The correct answer is B .