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 601: The temporary working area of the central processing unit is called the? Options:
  A) C-D ROM
  B) C-D RAM
  C) ROM
  D) RAM
  Show Answer
  The correct answer is B .
• Question 602: Most foreign trade transaction are paid for through the use of Options:
  A) central bank cheques
  B) bank drafts drawn by commercial banks on their foreign branches
  C) irrevocable and confirmed letters of credit
  D) letters of credit authenticated by the embassies of the respective countries
  Show Answer
  The correct answer is C .
• Question 603: The process of buying and selling and distribution of goods and services is ______ Options:
  A) retail trade
  B) commerce
  C) marketing concept
  D) marketing
  Show Answer
  The correct answer is B .
• Question 604: A market where new shares are tracked is known as Options:
  A) Primary Market
  B) Stock Exchange
  C) Secondary Market
  D) Money Market
  Show Answer
  The correct answer is A .
• Question 605:

  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
  Show Answer
  The correct answer is B .
• Question 606: The compensation the insured gets depends heavily on the? Options:
  A) economic situation
  B) premium paid
  C) risk suffered
  D) insurer's bouyancy
  Show Answer
  The correct answer is B .
• Question 607: Which of the following is a matter of personal preference on the part of a superior officer? Options:
  A) Unity of command
  B) Span of control
  C) Delegation of anthority
  D) Unity of direction
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  The correct answer is C .
• Question 608: Drawing two parallel lines across a cheque means that it has to be paid into the account of the Options:
  A) payee
  B) drawer
  C) drawee
  D) payer
  Show Answer
  The correct answer is A .
• Question 609: One of the main objectives of the Second-tier Securities Market in Nigeria is to Options:
  A) achieved a realistic exchange rate for the naira
  B) eliminate currency dealings in the black market
  C) assist companies to raise capital
  D) attract investment flow
  Show Answer
  The correct answer is D .
• Question 610:

  Hire purchase is advantageous to the seller in that

  Options:
  A) it elevates his living standard
  B) people pay on installment
  C) his turnover will increase
  D) it enhances high level of patronage
  Show Answer
  The correct answer is D .