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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.

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

90 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 10 90 total questions
Question 41
jamb 1995
A bank statement is a document
Aordering a bank to pay on demand a stated sum of money
Bcontaining records of receipts, payments and balance on an account
Cused for paying into bank account
Dused for regular withdrawal of money from a savings account
View Explanation & Discuss
Question 42
jamb 1995
A major liability of a commercial bank arises from
Acustomers' deposits
Bloans and advances
Coverdrafts
Dstaff allowance
View Explanation & Discuss
Question 43
jamb 1995
which of the following sets of items was used for exchange in Nigeria before money was introduced?
Acowries, iron rods, brass rods and copper rods
Biron rods, copper rods, manilla and cowries
Ccowries, manilla, brass rod andcopper wires
Dcopper wires, brass wires, cowries and iron rod
View Explanation & Discuss
Question 44
jamb 1995
Berne union is also known as
AInternational Credit Union
BInternational Documentry Credit
CInternational Union of Credit and Investment Insurers
Dexport Credit Guarantee Scheme
View Explanation & Discuss
Question 45
jamb 1995
The insurance policy which provides full cover against all risks at sea is known as
APolicy with Particular Average
BPolicy Free of Particular Average
CMarine Freight Insurance
DMarine Voyage Policy Insurance
View Explanation & Discuss
Question 46
jamb 1995
The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called
Asubrogation
Bcontribution
Cre-insurance
Dindemnity
View Explanation & Discuss
Question 47
jamb 1995
The main advantage of road transport is that it is
Aconvenient and flexible
Bcheap and direct
Ccommon and fast
Dsafe and available
View Explanation & Discuss
Question 48
jamb 1995

Spot market goods are those which are available for

Aimmidiate delivery
Bshort-term delivery
Clong-term delivery
Dend of the delivery
View Explanation & Discuss
Question 49
jamb 1995
Freight note is a document
Aused by government to transport goods from one country to another
Bissued by a shipping company giving details of charges
Cused for payment for imported goods
Dgiven by an importer to pay for goods at a future period
View Explanation & Discuss
Question 50
jamb 1995
What are the factors with which commercial undertaking can be distinguish?
I Size of the undertaking
II Profits generated
III Forms of ownership
IV Location of the undertaking
AI and II only
BI andIII only
CII and III only
DIII and IV only
View Explanation & Discuss
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