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 781:

  The insurance principle that requires full disclosure of information on the insured is known as ?

  Options:
  A) indemnity
  B) caveat emptor
  C) subrogation
  D) uberrimae Fidel
  Show Answer
  The correct answer is D .
• Question 782: The right of ownership with respect to goods or property is? Options:
  A) right of occupancy
  B) proxy
  C) tittle
  D) certificate of occupancy
  Show Answer
  The correct answer is D .
• Question 783: A liquidator's fee is to be charged to the? Options:
  A) realization account
  B) trading account
  C) revaluation account
  D) reconstruction account
  Show Answer
  The correct answer is A .
• Question 784: An insured risk which occurs accidentally as a result of deflects in a ship is? Options:
  A) a voyage policy
  B) a total loss
  C) an emergency
  D) a particular average
  Show Answer
  The correct answer is D .
• Question 785: The document which must be endorsed by the ambassador of a country of destination before shipment of goods is a Options:
  A) consular invoice
  B) certificate of origin
  C) bill of lading
  D) close indent
  Show Answer
  The correct answer is B .
• Question 786: A chamber of commerce is an association made up of Options:
  A) enterpreneurs
  B) manufacturers
  C) merchants
  D) importers
  Show Answer
  The correct answer is A .
• Question 787: A major factor that affects business operations is Options:
  A) technology
  B) supply
  C) product
  D) rivalry
  Show Answer
  The correct answer is A .
• Question 788: A feature common to privatization and commercialization is? Options:
  A) profit-making
  B) credit sales
  C) market expansion
  D) price increases
  Show Answer
  The correct answer is A .
• Question 789: The founders ‘share are usually referred to as deferred shares because the holders? Options:
  A) are entitled to cumulative dividends
  B) receive theirdividends after other shareholders
  C) receive their diviends before shareholders
  D) are not entitled to any dividends
  Show Answer
  The correct answer is B .
• Question 790: An employer insures against his employees' dishonesty by taking up? Options:
  A) fidelity guarantee insurance
  B) accident insurance
  C) group life assurance
  D) endowment policy
  Show Answer
  The correct answer is A .