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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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1,707 questions

Question 1 of 20 1,707 total questions

Question 31

jamb 2025

Which of the following types of insurance is taken against claims made by staff who get injured while at work?

AEmployers' liability insurance

BFidelity guarantee insurance

CConsequential loss insurance

DProducts liability insurance

View Explanation & Discuss

Question 32

jamb 2025

When a public company receives the certificate of incorporation, this implies that

Athe company's assets exist separately from those of its members

Bit can no longer sue or be sued

Cthe company's finds it difficult to raise capital

Dit can go ahead and start business

View Explanation & Discuss

Question 33

jamb 2025

An agreement that is enforceable in law is

Aan offer

Ba consideration

Can acceptance

Da contract

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Question 34

jamb 2025

Musa entered into a contract to supply two cows to Aro. Before the agreed date of supply and without the knowledge of the two
parties, thieves stole the cows. This is an example of termination of contract by

Adefault

Bperformance

Cbreach

Dfrustration

View Explanation & Discuss

Question 35

jamb 2025

When the buyer of an existing share is to receive the pending dividend, the price is

Aat par

Bcum div

Cat a discount

Dex-div

View Explanation & Discuss

Question 36

jamb 2025

The job of the police in keeping law and order in the society is

Aa direct service

Ba self service

Ca commercial services

Dan indirect service

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Question 37

jamb 2025

Trade can be described as

Adistribution of goods

Bpurchase of goods and services

Cbuying and selling

Dproduction of goods

View Explanation & Discuss

Question 38

jamb 2025

Which of the following is not a financial institution?

AInsurance company

BStock exchange

CCommodity board

DClearing house

View Explanation & Discuss

Question 39

jamb 2025

Small scale retailer continue to survive inspite of serious competition from large scale retailers because they

Ado not separate business money from personal money

Bbuy from many manufacturers

CMaintain personal relationship with customers

DStock only one line of goods in their stalls

View Explanation & Discuss

Question 40

jamb 2025

The exchange of goods for goods in foreign trade is known as?

ASmuggling

BVisible trade

CEntreport trade

DCounter trade

View Explanation & Discuss

Question 41

jamb 2025

An insurance principle that prevents a person from insuring what he does not stand to lose financially if the insured risk occurs is

Aproximate cause

Bindemnity

Cinsurable interest

Dsubrogation

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Question 42

jamb 2025

The reduction of the value of a country's currency in relation to other country's currencies in

Afluctuation

Binflation

Cdevaluation

Dderegulation

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Question 43

jamb 2025

Turnover of a business is the same as the

Apurchases of the business

Bassets of the business

Csales of the business

Dprofit of the business

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Question 44

jamb 2025

Which of the following is a means of payment?

AC.I.F

BI.O.U

CPostal order

DPromissory note

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Question 45

jamb 2025

Which of the following is not an aid to trade ?

AInsurance

BBanking

CProduction

DTransport

View Explanation & Discuss

Question 46

jamb 2025

Which of the following is sent by a supplier who does not want to sell on credit?

AConsular invoice

BQuotation

CAdvice note

DProforma invoice

View Explanation & Discuss

Question 47

jamb 2025

An open cheque is one

AWhich can be cashed over the counter

BWhich has no name

CWhich has no specific amount written on it

Don which the amount is written only in figures

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Question 48

jamb 2025

The fees charged on postal order by the post office is

Apremium

Bpoundage

Cinterest

Dbrokerage

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Question 49

jamb 2025

The transfer of ownership of government business to individuals is

Aprivatization

Bcommercialisation

Cderegulation

Dnationalization

View Explanation & Discuss

Question 50

jamb 2025

Goods are usually classified into

Asaleable and non saleable goods

Binferior and superior goods

Cluxurious and essential goods

Dproducer and consumer goods

View Explanation & Discuss

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