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 901: Goods discharged from ships on which import duties have not been paid are kept in the Options:
  A) ordinary warehouse
  B) public warehouse
  C) private warehouse
  D) bonded warehouse
  Show Answer
  The correct answer is D .
• Question 902: Okeze contracted to sell TV sets to Ojo. Unknown to them, the sets were stolen in transit. This contract may be terminated on the ground of Options:
  A) bankruptcy
  B) frustration
  C) fraudulence
  D) breach of contract
  Show Answer
  The correct answer is B .
• Question 903:

  The factors which critically determines the choice of occupation is

  Options:
  A) Skill
  B) Training
  C) Aptitude
  D) Interest
  Show Answer
  The correct answer is A .
• Question 904: The cost which is incurred asa result of failure to load or unload a ship at the ports within a specified period is referred to as Options:
  A) demurrage charges
  B) premium charges
  C) excess charges
  D) trade charges
  Show Answer
  The correct answer is A .
• Question 905:

  Balance of payment consist of _________ and __________ items

  Options:
  A) Credit and loss
  B) visible and non-visible
  C) valid and invalid
  D) income and expenditure
  Show Answer
  The correct answer is B .
• Question 906: A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a Options:
  A) commission agent
  B) del credere agent
  C) broker
  D) factor
  Show Answer
  The correct answer is B .
• Question 907: The most reliable and efficient means of conveying urgent documents is through Options:
  A) postal order
  B) ordinary letters
  C) registered letters
  D) courier services
  Show Answer
  The correct answer is D .
• Question 908: What is the most important use of promotion in marketing? Options:
  A) Persuasion
  B) Conviction
  C) Information
  D) Education
  Show Answer
  The correct answer is C .
• Question 909:

  The face-to-face meeting of the seller with the buyer for the purpose of making sales is

  Options:
  A) mass selling
  B) impulse buying
  C) personal selling
  D) sale promotion
  Show Answer
  The correct answer is C .
• Question 910: 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 .