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 681: The buying and selling of goods and services is referred to as Options:
  A) trading
  B) marketing
  C) insurance
  D) advertising
  Show Answer
  The correct answer is A .
• Question 682: The comparison of a country's visible and invisible exports and imports expressed in monetary term is? Options:
  A) balance of payment
  B) terms of trade
  C) balance of trdae
  D) terms of payment
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  The correct answer is C .
• Question 683: A function generally performed by authorities of both the air and seaport is the? Options:
  A) maintance of warehouse where goods can be stored
  B) provision of facilities for loading and unloading of cargoes
  C) maintenance of security and order at the ports
  D) provision of facilities for landing and refuelling at the ports
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  The correct answer is D .
• Question 684: A risk that can be estimated and calculated to be compensation is? Options:
  A) a delivery risk
  B) an insurable risk
  C) a credit risk
  D) a systematic risk
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  The correct answer is B .
• Question 685: An agreement by the insurer to compensate the insured for losses suffered is? Options:
  A) policy
  B) surrender value
  C) caveat emptor
  D) indemnity
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  The correct answer is D .
• Question 686: Personnel activities that promote the general image of an organization are part of Options:
  A) advertising
  B) sales promotion
  C) public relations
  D) business correspondence
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  The correct answer is C .
• Question 687: The members of ECOWAS include? Options:
  A) Nigeria, Chad, Gabon and Cape Verde
  B) Burkina Faso, Nigeria and Ghana
  C) Guinea, Mali, Cameroun and Nigeria
  D) Togo, Niger, Nigeria and Ghana
  Show Answer
  The correct answer is D .
• Question 688:

  Taking a new product to a particular part of the country to test the reaction of consumers to the product is referred to as?

  Options:
  A) sales promotion
  B) sampling
  C) merchandising
  D) advertising
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  The correct answer is A .
• Question 689: Banks are engaged in the business of buying and selling of? Options:
  A) bills of exchange
  B) instruments of credit
  C) intangible products
  D) land
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  The correct answer is A .
• Question 690: The three components of staffing are? Options:
  A) recruitment, interview and appointment
  B) recruitment, test and placement
  C) recruitment, selection and appointment
  D) recruitment, selection and placement
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  The correct answer is D .