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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.

97 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2

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Past Questions

97 questions

Question 1 of 20 97 total questions

Question 21

waec 2014

Fidelity guarantee insurance will only cover

Acashier's fraud

Bdaylight robbery

Closs of profit

Dunpaid loan

View Explanation & Discuss

Question 22

waec 2014

The charge paid to a ship owner for the unused part of a ship is known as

Apenalty

Bdock dues

Cdead freight

Ddemurrage

View Explanation & Discuss

Question 23

waec 2014

The ratio between a country's exports and her imports prices is the

Abalance of trade

Bbalance of payments

Cterms of trade

Dexchange rate

View Explanation & Discuss

Question 24

waec 2014

"Net 3 months" on an invoice means the buyer will

Apay interest after 3 months

Bgets discount if he pays within 3 months

Cpay full invoice amount after 3 months

Dhave discount if he pays after 3 months

View Explanation & Discuss

Question 25

waec 2014

Which of the following is engaged in commercial occupation?

Aa brick layer

Ban engineer

Can insurance broker

Da barber

View Explanation & Discuss

Question 26

waec 2014

In a hire purchase contract, the customer becomes the legal owner of the goods by

Apaying the last installment

Bpaying the first installment

Ctaking possession of the goods

Dpaying half the purchase price

View Explanation & Discuss

Question 27

waec 2014

Shares, bonds, stocks and debentures traded on the stock exchange are collectively called

Acollaterals

Bcommodities

Cresources

Dsecurities

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Question 28

waec 2014

A price quotation which includes all the expenses involved in loading the goods into a ship is

AFree on Board (FOB)

BFree Alongside Ship (FAS)

CCost, Insurance, Freight (C.I.F)

Dex-ship

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Question 29

jamb 2014

The social responsibility factor of an organization is geared towards

Acontributing to the sustenance and development of its host community

Boperating without disrupting the very esssence of the environment

Ctackling the soci-economic problems of the state

Dmeeting the needs and demands of the shareholders

View Explanation & Discuss

Question 30

jamb 2014

A Digital Versatile Disk is an example of a

Atransmission control protocol

Bmicroprocessor

Cfile transfer protocol

Dcomputer storage device

View Explanation & Discuss

Question 31

jamb 2014

Which of the following computers can be used in weather forecast?

AHybrid computer

BDigital computer

CMainframe computer

DAnalog computer

View Explanation & Discuss

Question 32

jamb 2014

The three functional units of a modern computer are

Ainput, processor and output units

Bprocessor, FOTRAN and output units

Cblack box, output and input units

Dbasic, COBOL and output units

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Question 33

jamb 2014

A contract which is devoid of legal effect is

Avoid contract

Bunenforceable contract

Cvoidable contract

Dvalid contract

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Question 34

jamb 2014

The difference between a factor and a broker is that the former

Ais licensed to sell goods on auction

Bhas a lien on the goods he possesses

Cis not in possession of the goods

Dcannot sell in his own name

View Explanation & Discuss

Question 35

jamb 2014

Hire purchase is advantageous to the seller in that

Ait elevates his living standard

Bhis turnover will increase

Cpeople pay on installment

Dit enhances high level of patronage

View Explanation & Discuss

Question 36

jamb 2014

Mr Taiwo entered into a contract to let a car to Mr Bunmi for his wedding for two days. However, the car had an accident before the first day. Mr Bunmi attempted to claim damages but failed. This implies the contract was terminated by

Abankruptcy

Bfrustration

Cbreach

Dlapse of time

View Explanation & Discuss

Question 37

jamb 2014

Which of the following is used as pricing policy?

Alabelling

Bpackaging

Cmarket selection

Dmarket skimming

View Explanation & Discuss

Question 38

jamb 2014

Which of the following aspects of marketing stimulates buying by providing free gifts

Aa personal selling

Bsales promotion

Cadvertising

Dpublicity

View Explanation & Discuss

Question 39

jamb 2014

The physical and psychological satisfaction a customer derives from the purchase of goods and services is

Aproduction

Bproduct mix

Cutility

Dtrade

View Explanation & Discuss

Question 40

jamb 2014

A business that focuses attention on the quality of the goods produced by precisely knowing what the consumers desire is said to be operation the

Aproduct mix

Bpromotion mix

Cmarketing concept

Dproduct orientation.

View Explanation & Discuss

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