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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.


School Portal Nigeria

1 / 40

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

2 / 40

The main advantage of sea transport over air transport is

3 / 40

Dividend is a always expressed as a percentage of total

4 / 40

The main feature of a holding company is

5 / 40

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

6 / 40

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

7 / 40

An open cheque is one

8 / 40

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

9 / 40

A debenture is mortgaged when it is

10 / 40

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

11 / 40

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

12 / 40

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

13 / 40

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

14 / 40

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

15 / 40

Market skimming is an example of

16 / 40

Which of the following gives businessmen the opportunity to buy shares of public limited companies?

17 / 40

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

18 / 40

A partner with an unlimited liability is known as a

19 / 40

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

20 / 40

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

21 / 40

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

22 / 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?

23 / 40

The process of dealing with a cheque once it has been paid into the creditor’s bank is

24 / 40

The scope of commerce is limited to

25 / 40

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

26 / 40

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

27 / 40

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

28 / 40

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

29 / 40

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

30 / 40

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

31 / 40

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

32 / 40

Which of the following is true of rail transport?

33 / 40

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

34 / 40

Which of the following is not suitable for hire purchase?

35 / 40

Partnership form of business is most appropriate

36 / 40

The process by which the government takes over the ownership ad control of an existing private business is

37 / 40

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

38 / 40

A private company is one which must publish its audited account must publish its audited account

39 / 40

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

40 / 40

The West Africa Clearing House (WACH) was established

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