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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.

2,221 questions JAMB 1707 WAEC 2221 NECO 383 CUSTOM 2
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Past Questions

2,221 questions
All JAMB WAEC NECO CUSTOM
All years 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Question 1 of 20 2,221 total questions
Question 291
waec 2014
A person who gave his building as a security for loan is known as a
Atrustee
Bmortgagee
Cmortgagor
Dguarantor
View Explanation & Discuss
Question 292
waec 2014
A retail outlet with many branches all dealing in similar line of goods is described as a
Adepartment store
Bsupermarket
Cchain store
Dhypermarket
View Explanation & Discuss
Question 293
waec 2014
An insurance principle which prevents an insured from making profit when compensated is known as
Aproximate cause
Bindemnity
Cinsurable interest
Dutmost good faith
View Explanation & Discuss
Question 294
waec 2014
The term "fiduciary issue" means
Amoney issued without gold backing
Bmoney issued with gold backing
Cmoney issued as currency note
Dgold reserve
View Explanation & Discuss
Question 295
waec 2014
A system of sales where goods are sold to the highest bidder is known as
Acredit sale
Bhire purchase
Cclearance sale
Dauction sale
View Explanation & Discuss
Question 296
waec 2014
In the absence of the bill of lading, which of the following is used o clear the goods
ABill of sight
BDock warrant
CCertificate of Origin
DMate's receipt
View Explanation & Discuss
Question 297
waec 2014
Fidelity guarantee insurance will only cover
Acashier's fraud
Bdaylight robbery
Closs of profit
Dunpaid loan
View Explanation & Discuss
Question 298
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 299
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 300
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 301
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 302
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 303
waec 2014
Shares, bonds, stocks and debentures traded on the stock exchange are collectively called
Acollaterals
Bcommodities
Cresources
Dsecurities
View Explanation & Discuss
Question 304
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
View Explanation & Discuss
Question 305
waec 2013

To take an insurance policy, an applicant must first complete a/an

Aproposal form
Bcover note
Ccertificate of insurance
Dadvice note
View Explanation & Discuss
Question 306
waec 2013
Which of the following price quotations requires the buyer to take delivery at the manufacturer's warehouse?
AEx-works
BF.O.R
CF.O.B
DD.F.A.S
View Explanation & Discuss
Question 307
waec 2013

The insurance principle of indemnity does not apply to

Afire insurance
Blife assurance
Cburglary insurance
Dmarine insurance
View Explanation & Discuss
Question 308
waec 2013

The ancillary to trade which ensures that people have access to information pertaining to goods is

Ainsurance
Badvertising
Cwarehousing
Dbanking
View Explanation & Discuss
Question 309
waec 2013

A term which describes the value of business connections made by a company over the years is known as

Apatent
Bcopyright
Cgoodwill
Dtrade mark
View Explanation & Discuss
Question 310
waec 2013

A person who undertakes responsibility for forming a new company is

Aauditor
Bsolicitor
Cregistrar
Dpromoter
View Explanation & Discuss
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