Likely JAMB Cbt Commerce Questions and Answers for 2023/2024
Jamb Commerce Likely Questions For 2023
What will Jamb set in commerce for 2023 UTME and what are the top hot likely questions to come out in Jamb Commerce? Continue reading for Jamb commerce Questions and Answers.
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The 40 Questions and answers will cover every Chapter in Jamb commerce. However, the Likely commerce Questions will not be arranged topic by topic.
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Jamb Commerce Questions And Answers
1. What is the Capital market for?
Answer: Long term loans
2. A document sent to a customer at regular intervals to enable him know his indebtedness to his supplies is known as
Answer: Statement
3. The physical components of a computer system refers to
Answer: Hardware
4. Ships used for international transport are
Answer: Ocean Liners
5. The sum of money paid by a policyholder to an insurer is referred to as
Answer: Premium
6. The warehouse that is owned and controlled by the government is a?
Answer: State warehouse
7. What is a major function of a chamber of commerce?
Answer: Promoting both home and foreign trade
8. Efforts geared towards establishing and maintaining good image for a company is termed…
Answer: Public relations
9. The agreement of insurers to spread risks among themselves is a major feature of …
Answer: Re-insurance
10. The conversion of raw materials into finished products creates Form Utility.
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11. The focal point of marketing is
Answer: Sales
12. Entreport trade refers to
Answer: Importing for re-exporting
13. What guarantees the keeping of money for a long period?
Answer: Durability
14. The right to retain possession of goods until the contract is paid is known as
Answer: A lien
15. An advertising medium which combines the advantage of sound and motion is?
Answer: Television
16. A study to discover consumer’s preferences and needs is called…
Answer: Market Segmentation
17. Dumping means selling goods abroad At a lower price than in the home market.
18. The exchange of goods for other goods in home trade is known as
Answer: Barter Trade
19. The process of transferring data from one computer to another is referred to as
Answer: Downloading
20. James purchased goods from Samson and is to pay custom duties before collection. The goods are likely to be collected from a?
Answer: A bonded warehouse
21. Commerce is defined as the study of what?
Answer: Study of how man buys, sells, and distribute goods and services.
22. An international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as
Answer: Counter trade
23. The market structure, business consitions and financial systems in Nigeria constitute the
Answer: Economic Environment
24. The system of parting with authority but not responsibility is known as
Answer: Delegating
25. When the old customer stick to the old places to buy goods and services, it is known as
Answer: Goodwill
26. Who is liable for the contracts entered into by the agent on behalf of his principal?
Answer: Prinicipal
27. The insurance principle that requires full disclosure of information on the insured is known as
Answer: Uberrimae Fidei
28. ___ Requires acceptance by debtor to make it valuable.
Answer: Bill of exchange
29. An aspect of commerce that facilitates the distribution of product is
Answer: Transportation
30. The difference between personal selling and sales promotion is that sales promotion includes free gifts and samples, personal selling involves___
Answer: Face-to-face communication with customers
An agreement between two parties which can be enforced is called
Answer: A contract
32. The most suitable organizational structure for a small or medium-sized enterprise is
Answer: Line structure
33. The type of advertising that seeks to persuade consumers to buy a particular product is
Answer: Persuasive advertising
34. A machine which enables sales without the physical presence of the sale attendant is a
Answer: Vending Machine
35. The variety of goods and services which company offers for sales is its
Answer: Product Mix
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36. A distinctive symbol, title or design that readily identifies the company and its product is
Answer: Trademark
37. An individual who makes the final use of goods and services provided by a firm is the ___
Answer: Consumer
38. Treasury bills are issued by
Answer: Central bank
39. The essential utility derived from the use of a product is known as
Answer: Core benefit
40. Ocean liners are subdivided into
Answer: Passenger liners and cargo liners
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