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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
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Question 1 of 17 97 total questions
Question 41
jamb 2014

The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is

Asubrogation
Bproximate cause
Cuberrimae fidei
Dcontribution
View Explanation & Discuss
Question 42
jamb 2014

Insurance against burglary is an example of

Aindemnity insurance
Bfidelity guarantee insurance
Cnon-insurable risk
Dnon-indemnity insurance
View Explanation & Discuss
Question 43
jamb 2014

Endowment policy in insurance business is an aspect of

Aaccident insurance policy
Bfidelity guarantee insurance policy
Cmotor vehicle insurance policy
Dlife assurance policy
View Explanation & Discuss
Question 44
jamb 2014

Tourists with no fixed address in a town may receive their letters from post office through a

Aposte restante
Bparcel post
Cprivate mail bag
Drecorded delivery
View Explanation & Discuss
Question 45
jamb 2014
A carton of noodles valued at #2,000 was invoiced at #200 only.The accounting procedure to correct this error is to issue
Aan invoice for #200
Ba debit note for #2,00
Ca credit note for #1,800
Da debit note for #1,800
View Explanation & Discuss
Question 46
jamb 2014

In response to an inquiry from a customer, a wholesaler is expected to send back

Aa consignment note
Ban order
Ca qoutation
Dan advice note
View Explanation & Discuss
Question 47
jamb 2014

A document recording the transactions of an organization with its customer for a specified period which normally shows the indebtedness of one to the other is a

Astatement of account
Bconsular invoice
Cproforma invoice
Dstatement affairs
View Explanation & Discuss
Question 48
jamb 2014

The role of customs and excise authority includes the

Acontrol of the flow of goods in and out of the country
Bcontrol of security agents within and out of the borders
Cprovision of dockyards for ship repairs and maintenance
Dprovision of transport system to facilitate imports and exports
View Explanation & Discuss
Question 49
jamb 2014

The document submitted to the customs authority when full description of imported goods is not provided is

Aa bill of sight
Ban invoice
Can indent
Da bill of entry
View Explanation & Discuss
Question 50
jamb 2014

The document issued by a port authority for goods deposited is a

Abill of lading
Bbill of sight
Cconsular invoice
Dwarehouse warrant
View Explanation & Discuss
Question 51
jamb 2014

To eliminate middlemen, there should be a retail outlet such as

Aproducer co-operative
Bconsumer co-operative
Cmultiple shop
Ddepartmental store
View Explanation & Discuss
Question 52
jamb 2014

Mrs Jones who lives in the riverine community of Rivers State makes her living through crabbing and fishing . This type of occupation she is in is

Acommercial
Bmanufacturing
Cservice
Dextractive
View Explanation & Discuss
Question 53
jamb 2014

One of the major determinants of the volume of production is

Athe market size
Bthe availability of banks
Csex distribution
Dgovernment policy
View Explanation & Discuss
Question 54
jamb 2014

An important feature of land is that it

Ahas an elastic supply
Bis an active factor of production
Cis heterogenous in nature
Dis subject to returns to scale
View Explanation & Discuss
Question 55
jamb 2014

The payment for direct service is usually made by the

Alocal authority
Bcommunity
Cgovernment
Dindividual
View Explanation & Discuss
Question 56
jamb 2014

One of the products of an extractive industry is

Aan airplane
Ban iron ore
Ca shoe
Da textile material
View Explanation & Discuss
Question 57
jamb 2014
Cooperation and friendliness are enhanced among nations through interdependence necessitated by
Atourism
Bcommerce
Cagriculture
Dsocio-cultural activities
View Explanation & Discuss
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