These are Commerce Past Questions. 40 questions will be picked at random from the question bank.

You have 30 minutes to answer all the questions.

You can use the NEXT button to move to the next question, use the PREV button to move to the previous question, the CLEAR button to clear any answer of your choice and you have the FINISH button to end the exam if you choose to.

Any question not answered before the end of the exam time, will be marked as wrong and the exam will end by itself. so try to attempt all questions on time.


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1 / 40

The minimum charge at which the central bank lends to commercial banks is called

2 / 40

The various rights attached to different classes of shares are stated in the

3 / 40

Which of the following is an intangible asset of a firm?

4 / 40

Which of the following is true of rail transport?

5 / 40

Dividend is a always expressed as a percentage of total

6 / 40

If the amount of dividend paid varies according to the level of profit; what type of share is involved?

7 / 40

A refund of the duty collected on goods imported and processed for re-export is

8 / 40

Which of the following terms is used in marine insurance when the cargo suffers partial loss?

9 / 40

Who is responsible for the payment of the bill in documentary credits?

10 / 40

A label as a product such as “Three Crown Milk” is a form of

11 / 40

The scope of commerce is limited to

12 / 40

The money used by Njie & Co. Ltd in running the day-to-day activities of the business is represented by

13 / 40

Which of the following is not a method of discharging a contract?

14 / 40

Which of the following is used to show that goods imported were produced in an ECOWAS member country?

15 / 40

The refund made on goods re-exported after being imported is known as

16 / 40

Farming is an activity that falls under

17 / 40

Which of the following is not a function of the ports Authority?

18 / 40

Which of the following can be defined as trade and aid to trade?

19 / 40

Who among the following does not function in the stock exchange market?

20 / 40

C & F as a price quotation in foreign trade means that the buyer

21 / 40

Which of the following is not used to correct an adverse balance of payment?

22 / 40

An advantage of a public limited company over a private one is the

23 / 40

The main feature of a holding company is

24 / 40

Market skimming is an example of

25 / 40

An open cheque is one

26 / 40

Which of the following provides a proof of posting and that the item has got to the addresses?

27 / 40

A retirement insurance policy which enables the assured to receive income for a specific period is

28 / 40

A specially designed container to convey crude oil or liquid from one’ location to another is a

29 / 40

Partnership form of business is most appropriate

30 / 40

Which of the following involves the delivery of mails to a traveler without fixed address?

31 / 40

Which of the following is not an obstacle to the achievement of the objective of ECOWAS?

32 / 40

Total assets minus current liabilities is equal to a company’s

33 / 40

When an insurance company indemnifies the insured and takes over his rights, this is known as

34 / 40

Which of the following is a means by which a contract of agency could be terminated?

35 / 40

The production of goods in anticipation of demand is possible because of the existence of

36 / 40

Which of the following has as one of its objectives the removal of obstacles to movement of people and goods across the boundaries of member countries?

37 / 40

A debenture is mortgaged when it is

38 / 40

The main advantage of sea transport over air transport is

39 / 40

Which of the following organizations aim at providing relief for countries facing adverse balance of payment?

40 / 40

A retailer sells his products at “buy-two-take-three”. The sales promotion method referred to is

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