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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.

53 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

53 questions

Question 1 of 20 53 total questions

Question 11

waec 2004

The insurance policy which covers damages to the body of a ship is

Amarine insurance

Bcargo insurance

Cship liability insurance

Dhull insurance

View Explanation & Discuss

Question 12

waec 2004

The liquid assets of commercial banks are

Atreasury bills, bills of exchange and cash

Bcash, current account and other money-bearing assets

Cdeposit accounts and cash

Dcash only

View Explanation & Discuss

Question 13

waec 2004

Which of the following gives businessmen the opportunity to buy shares of public limited companies?

Ainsurance companies

Bcommercial banks

Cdiscount houses

Dthe stock exchange

View Explanation & Discuss

Question 14

waec 2004

Which of the following services is rendered by Central Bank?

Aprovision of brokerage services

Bsafe keeping of cash and valuables

Cdiscounting bills of exchange

Dissuing currency notes

View Explanation & Discuss

Question 15

waec 2004

The primary objective of insurance is to

Aprevent accidents

Bmeet uncertainties in future

Cgive loan to business men

Dcontrol the flow of cash

View Explanation & Discuss

Question 16

waec 2004

A bill of exchange is made up more negotiable if it has been

Aendorsed

Baccepted

Chonoured instantly

Dgiven special crossing

View Explanation & Discuss

Question 17

waec 2004

A bill of exchange is made more negotiable if it has been

Aendorsed

Baccepted

Chonoured instantly

Dgiven special crossing

View Explanation & Discuss

Question 18

waec 2004

C % F as a price quotation in foreign trade means that the buyer

Ais responsible for clearing and forwarding the goods

Bhas to pay for cost and freight

Cpays for both the freight and insurance

Dpays for insurance only

View Explanation & Discuss

Question 19

waec 2004

Which of the following abbreviations permits the seller to correct any error in an invoice?

AF.O.R

BC.I.F

CC.E % O.E

DI.O.U

View Explanation & Discuss

Question 20

waec 2004

The aid to trade responsible for the preservation of perishable items is

Awarehousing

Binsurance

Ctransportation

Dwarehousing

View Explanation & Discuss

Question 21

waec 2004

Terms of trade refers to

Aagreement between two trading countries

Bthe difference between the value of imports and exports

Cthe relationship between export and import prices

Dall payments made to other countries and reciepts of them

View Explanation & Discuss

Question 22

waec 2004

Which of the following is not a function of the Ports Authority

Acontrolling pollution in rivers

Bproviding parking space for vehicles

Cproviding storage and warehousing facilities at the docks

Dproviding facilities for water traffic movement

View Explanation & Discuss

Question 23

waec 2004

The most acceptable means of payment in foreign transaction is

Apersonal cheques

Bcentral bank cheques

Cirrevocable letters of credit

Dbankdrafts

View Explanation & Discuss

Question 24

waec 2004

Which of the following is regarded as a document of title in foreign trade?

Aconsular invoice

Bbill of lading

Cbill of sight

Dcertificate of origin

View Explanation & Discuss

Question 25

waec 2004

Manufacturers sell directly to consumers when they

Awant to make profit

Bwish to eliminate all transport costs

Clive far away from them

Ddeal in perishable goods

View Explanation & Discuss

Question 26

waec 2004

Which of the following distinguishes supermarkets from other retail outlets

Ause of self-service

Bstandard shop fronts

Csale of food items and household goods

Dprovision of parking spaces and delivery services

View Explanation & Discuss

Question 27

waec 2004

Which of the following makes sales possible without a sales attendant ?

Atelex machine

Bfax machine

Cvending machine

Dfranking machine

View Explanation & Discuss

Question 28

waec 2004

A very effective way of resisting the producer's exploitation is to

Aban the producer

Bcampaign against the company

Cform consumer's association

Dform a trade union

View Explanation & Discuss

Question 29

waec 2004

Which of the following is a duty of the Employers Association?

Aprocuring raw materials at regular intervals

Bestablishing a uniform wage scale

Cnegotiating with the government on sites for firms

Ddischarging workers when production is low

View Explanation & Discuss

Question 30

waec 2004

Dividend is always expressed as a percentage of total

Aearnings of a business

Bvalue of shares owned

Cworking capital

Dvolume of business

View Explanation & Discuss

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