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.

49 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

49 questions
Question 1 of 20 49 total questions
Question 11
jamb 2011

A broker is an agent who links a potential investor with?

Aa shareholder who wants to register a company
Bother members of the exchange who want to trade
Cgovernement official on the exchange
Da quoted company
View Explanation & Discuss
Question 12
jamb 2011
An example of a trade association is?
AALGON
BNLC
CNURTW
DNULGE
View Explanation & Discuss
Question 13
jamb 2011

A source of business financing which involves pledging of a specific assets is?

Abond
Bmortage
Cdebentures
Dloan
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Question 14
jamb 2011

In the event of voluntary liquidation, the appointed of a liquidator is the responsibility of the?

Adirectors
Bcreditors
Cpromoters
Dcourt
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Question 15
jamb 2011

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 merger
Da consortium
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Question 16
jamb 2011

The business organization that can effectively combine management with control is?

Aprivate limited liability company
Bsole proprietorship
Cpublic limited liability company
Dco-operation society
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Question 17
jamb 2011
One of the major disadvantages of pipeline transportation is its?
Ahigh cost of construction
Blimitation in scope
Cvulnerability to climate changes
Dhigh maintainance cost
View Explanation & Discuss
Question 18
jamb 2011

Inbound tourism occurs when?

Anon-residents of a country travel to other countries
Bresident of a country travel to another country
Cnon-resident of a country travel within it
Dresident of a country travel within it
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Question 19
jamb 2011

The agreement of insurers to spread risks among themselves is a major feature of?

Areinsurance
Blife insurance
Cunderwriter
Dmarine insurance
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Question 20
jamb 2011
Mr. Lawal insured his warehouse against burglary but it was later gutted by fire. this implies that?
Athe loss should be borne by the insurer
BMr. Lawal is liable only for half of the estimated loss
Cthe insurer should make a consolation payment for the loss
Dthe loss should be borne by Mr. Lawal
View Explanation & Discuss
Question 21
jamb 2011

The major source of income to commercial banks is?

Atourism
Bbanking
Ccommunication
Dtransportation
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Question 22
jamb 2011

A cheque that has been drawn but not presented for payment can still be honored?

Awithin 6 months
Bafter 9 months
Cwithin 9 months
Dafter 6 months
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Question 23
jamb 2011
The most effective nut limited medium of advertising in Nigeria is?
Abillboard
Btelevision
Cnewspaper
Dradio
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Question 24
jamb 2011

The purchase of goods under the CWO system of payment implies that?

Amoney must be enclosed when ordering
Bpayment must be made on delivery
Cpayment must be made within few days
Dcash must be paid on the spot
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Question 25
jamb 2011

The price quoted which includes the cost of insurance, freight and all delivery charges to the importer's warehouse is?

AFree Alongside Ship
BFranco
CFree On Board
DFree On Rail
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Question 26
jamb 2011

The document which can be exchange for a bill of lading is?

Afreight note
Bmate receipt
Cexport invoice
Dship report
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Question 27
jamb 2011
A document that indicates obligation that is transferable by delivery and endorsement is a?
Abill of lading
Bbill of exchange
Cdocumentary evidence
Dnegotiable instrument
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Question 28
jamb 2011

The three components of a country's balance of payments are?

Acurrent account, capital account and monetary movement account
Bcapital account, trade account and business record
Csales account, profit and loss account and capital account
Dmonetary movement account, trade account and sales ledger
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Question 29
jamb 2011

Balance of payment problems arise if a country's?

Aexports is more than imports
Bimports is more than exports
Ccurrency devaluation
Dinvisible exports is more than visible exports
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Question 30
jamb 2011

The main frame of selling directly to the consumers by manufacturers is to?

Areduce transportation cost
Bmake contact with individual consumers
Cdiscourage the activities of middlemen
Dmaximize profit margin
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