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Commerce Past Questions

Study and practice Commerce past questions with answers and detailed explanations. Then test your knowledge using our interactive CBT practice platform and prepare confidently for your upcoming examinations.

1,707 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

1,707 questions
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Question 1 of 20 1,707 total questions
Question 161
jamb 2022
Commerce involves the exchange of goods and
Atrade secrets
Bideas only
Cservices
Draw materials only
Question 162
jamb 2021

The function of a merchant wholesaler is to

Afind markets for producers' finished goods
Bbring buyers and sellers together
Cpossess title to the goods, store and sell to retailers
Dbuy in bulk, store and sell to retailers as desired
View Explanation & Discuss
Question 163
jamb 2021

Departmentalization is an aspect of 

Adirecting
Borganizing
Cplanning
Dcontrolling
View Explanation & Discuss
Question 164
jamb 2021

Chibuzor agreed to make a dress for Hauwa with September 20, 1995 as the delivery date, if the dress was not ready on that date, Hauwa could

Asue chibuzor for specific performance
Bseize another gown from chibuzor's shop
Cregard the contract between then as terminated
Dsue chibuzor for damage
View Explanation & Discuss
Question 165
jamb 2021

Which of the following has power to order withdrawal of a particular food item from circulation?

AFederal High Courts in Nigeria
BStandard Organization of Nigeria
CLocal Government Health Inspectors
DFood and Drugs Department of the Federal Ministry of Health
View Explanation & Discuss
Question 166
jamb 2021

The macro-environmental forces and trends which are a constraint on business operations are referred to as

Ainternal factors
Bexternal factors
Ceconomic factors
Dtechnical factors
View Explanation & Discuss
Question 167
jamb 2021

Which of the following countries are members of the Lake Chad Basin Commission?

ANiger and Cameroon
BBenin and Nigeria
CNigeria and Mali
DChad and Benin
View Explanation & Discuss
Question 168
jamb 2021

Services rendered to the public is provided by 

Adomestic servants
Bcivil servants
Cgovernment
Dprofessionals
View Explanation & Discuss
Question 169
jamb 2021

The payment made periodically in respect of an insurance policy entered into is known as

Asurrender
Bbond
Cpremium
Dcommission
View Explanation & Discuss
Question 170
jamb 2021

The art of soap making is an example of

Atertiary occupation
Bconstruction occupation
Cprimary occupation
Dsecondary occupation
View Explanation & Discuss
Question 171
jamb 2021

A proforma invoice is not required when

Aquoting for the supply of good
Bdealing regularly with a customer
Cgoods are sent on approval
Dfinal prices are uncertain
View Explanation & Discuss
Question 172
jamb 2021

A form of money with face value which is greater than the value of the metal contents is 

Abank notes
Blegal tender
Ccommodity money
Dtoken money
View Explanation & Discuss
Question 173
jamb 2021

Hire purchase is advantageous to the seller in that 

Ait elevates his living standard
Bpeople pay on installment
Chis turnover will increase
Dit enhances high level of patronage
View Explanation & Discuss
Question 174
jamb 2021
NAME INSURED
AMOUNT(₦)		 ACTUAL
VALUE(₦)		 ACTUAL
LOSS(₦)
Mr. P
Mr. K
Mr. R		 25,000
30,000
40,000		 100,000
120,000
150,000		 30,000
40,000
50,000

What insurance principle has Mr. R violated if he decides to overstate the actual value of his property?

Ainsurable interest
Buberrimae fidei
Csubrogation
Dindemnity
View Explanation & Discuss
Question 175
jamb 2021
NAME INSURED
AMOUNT(₦)		 ACTUAL
VALUE(₦)		 ACTUAL
LOSS(₦)
Mr. P
Mr. K
Mr. R		 25,000
30,000
40,000		 100,000
120,000
150,000		 30,000
40,000
50,000

Use the table above to answer questions 27 and 28

If Mr. P takes a fire insurance policy with average clause, his compensation will be

A₦7,500
B₦5,000
C₦70,000
D₦75,000
View Explanation & Discuss
Question 176
jamb 2021

 A person who in consideration for an extra commission takes responsibility for goods sold on credit and in case of default is a 

Acommission agent
Bfactor
Cbroker
Ddel credere agent
View Explanation & Discuss
Question 177
jamb 2021

The main objective of a trade association is to

Aprotect its members against litigation
Bprotect its members against victimization
Cboost the trade of its members
Dsecure credit for its members
View Explanation & Discuss
Question 178
jamb 2021

When two or more companies agree to execute a project too large for one to handle, this is referred to as

Aan amalgamation
Ba cartel
Ca consortium
Da merger
View Explanation & Discuss
Question 179
jamb 2021

Inbound tourism occurs when

Aresidents of a country travel within it
Bnon-residents of a country travel to other countries
Cresidents of a country travel to other countries
Dnon-residents of a country travel within it
View Explanation & Discuss
Question 180
jamb 2021

An agency contract must involve

Aa principal and a consumer
Ba principal and an agent
Ca principal and a producer
Da principal and a third party
View Explanation & Discuss
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