Saturday, September 15, 2018

#Study1: Commerce Past Questions and Answers (JAMB)

The below PAST Questions and Answers for  commerce will be your guide. The question are to expose you to what you should expect while writing your UTME and probably Post UTME exams.


1. The major factors that facilitates merchandising are;
A. communication, advertising and banking.
B. Trading, warehousing and production.
C. management, insurance and advertising
D. banking, insurance and transportation.

2. Production involves
A.making goods available where and when needed.
B. changing the forms of goods, moving and making them available as needed.
C. the manufacturing of goods and production of services
the assembling of all necessary parts to produce a finished product.

3. The application of division of labour should generally bring about
A. increase in quantity of goods and services.
B. increase in varieties of goods and services.
C. cheapness of goods and services.
D. cost efficiency in the production of goods and services.

4. The term PLC implies that the shares are available
A. to the public at the company.
B. privately on the stock exchange
C. publicly on the stock exchange.
D. publicly in commercial banks.

5. Which of these is both merit and demerit in partnership?
A. The numbers of partners.
B. it's unlimited nature.
C. The bearing risks
D. The withdrawal of major partners.

6.  The measure of independence available to the individual business unit that come together is the main difference between
A. vertical and horizontal integration
B. mergers and acquisitions.
C. consortium and amalgamation.
D. trust and cartel.

7. Government policies relating to the establishment and operations of businesses are targeted at
A. increasing the profits of the business owners
B. the general improvement of the country's eceonomy
C. even spread of facilities and employment
D. diversification and expansion of businesses.

8. On liquidation of a public limited liability company, the residual owners are the
A. creditors
B. ordinary shareholders
C. preference shareholders
D. debenture holders

9. Bank overdraft as a short term dource of fund is
A. an overdrawn account
B. granted to a newly opened account
C. repayable after more than a year.
D. a current liability.

10. What is the total fixed capital?
A. N550,000                                                                   B. N570,000
C. N575,000                                                                    D. N675,000

11. Determine the circulating capital
A. N250,000                                                                     B. N245,000
C. N235,000                                                                      D. N225,000

12. The share capital value that forms part of the balance sheet total is the
A. paid-up share capital
B. called-up share capital
C. authorized share capital.
D. issued share capital

13. The main factors militating against the rapid growth of trade in Nigeria are
A. inadequate transportation network and huge capital outlay
B. lack of motivation and government attitude towards trade.
C. lack of good transportation network and insecurity of investments.
D. huge capital outlay and government attitude to trade.

14. The current trends in retailing competition in Nigeria are
A. advertising and sales promotion strategies
B. branding, enterprising and differentiation of goods and services
C. self-service, after-sale services and branding strategies
D. after-sale services and sales promotion strategies.

15. The function of a merchant wholesaler is to
A. buy in bulk, store and sell to retailers as desired
B. posses title to the goods, store and sell to retailers
C. bring buyers and sellers together
D. find markets for producers' finished goods.

16. An invoice can be described as a
A. contractual agreement for the sale of goods
b. document specifying quantity, description, prices and total value of purchases
C. receipt containing necessary information about the goods
D. letter specifying the contractual sales of goods between two parties.

17. Ocean liners are subdivided into
A. passenger liners and cargo liners
B. coastal liners and cargo liners
C. cargo liners and tramp liners
D. passenger liners and tramp liners.

18.  Tourist with no fixed address in a town may receive their letters from the post office through a
A. recorded delivery
B. post restante
C. parcel post
D. post master

19. The insurance principle that requires full disclosure of information on the insured is known as
A. indemity
B. uberrimae fidei
C. subrogation
D. caqveat emptor

20. Mr. olatunde took up a fire insurance on a property valued at N 1000 and the amount insured is N 800. The property caught fire causing a loss of  N 400. If the insurance was taken with the clause 'with average', what is the amount to be paid by the insurance company?
A. N 320
B. N 420
C. N 460
D. N 560

21. The Central bank differs from commercial banks because it
A. renders service to customers
B. carries out foreign exchange transaction
C. issues currenceies
D. discount bills.

22. A bank form used to transfer money from personal to creditor's account is called
A. debit transfer form
B. credit transfer form
C. customer transfer form
D. bank transfer form

23. The computer using linear integrated circuit technology coupled with quantification of data in terms of length and distance is known as
A. digital computer
B. analogue computer
C. mainframe computer
D. hybrid computer

24. A printer that burns the print image onto photosensitive drum is called
A. dt matrix printer
B. daisy wheel printer
C. laser printer
d. thermal printer.

25. A console is a device used in
A. moving a indicator on the screen
B. communicating between operator and programme
C. holding magnetic tape reel
D. forming characters by heating sensitive ribbon

26. A form of money that has gone out of use is
A. paper money
B. bank money
C. commodity money
D. foreign money

27. The major condition for obtaining loan in thrift,credit and loans cooperative societies is
A. provision of collateral security
B. a high level of education
C. possession of a large business
D. an approved project plan

28. The Stock Exchange helps to provide capital for industrial projects because it
A. determines values of shares, stocks and other securities
B. assists government in implementing its monetary policies
C. assist companies to change their securities to cash
D. renders agency services to organizations and governments

29. A shortcoming of the Second-tier Foreign Exchange Market in Nigeria is that it
A. serves as a mechanism for evaluating an unrealistic exchange rate for the naira
B. creates unhealthy competition amongst users of foreign exchange
C. contributes to destabilizing national resource allocation
D. contributes to flooding the market with foreign essential commodities.

30. The chart above represents the
A. product mix reletionship
B. marketing mix relationship
C. promotion mix relationship.
D. advertising mix relationship

31. A group of specialized functions of marketing is
A. buying, selling, storing and nformation
B. buying, selling, advertising and packaging
C. buying, selling, labeling and promotion
D. buying, selling, skimming and pricing.

32.The type of advertising that seeks to persuade consumers to buy a particular product is
A. informative advertising
B. competitive advertising
C. persuasive advertising
D. mass and specific advertising.

33. The practice whereby soft drink manufacturers give away caps, bags and other items when consumers buy their product is a form of
A. marketing strategy
B. publicity
C. advertising
D. sales promotion

34. The most important advantage of personal selling is that it
A. allows sellers to perceive buyer's needs
B. allows sellers to sell their goods quickly
C. takes place easily on highways
D. take place without the permission of government.

35. The role of public relations is principally to
A. sustain good relationship
B. create good image
C. carry out publicity
D. advertise a firm's products


1.D 2.B 3.A 4.C 5.A 6.B 7.B 8.B 9.D 10.C 11.C 12.A 13.A 14.A 15.A 16.B 17.A 18.B 19.B 20.A  21.C 22.A 23.A 24.C 25.A 26.C 27.A 28.C 29.B 30.B 31.C 32.C 33.D 34.A 35.B

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