WAEC - Commerce (2015)

• 1

  The practice of giving a particular name to a product by a manufacturer is

  回答

  (A)

  branding
• 2

  An extra commission paid to an agent who guarantees credit sales made by him is?

  回答

  (A)

  del credere
• 3

  A professional in insurance who evaluates the level of loss claims is

  回答

  (D)

  an actuary
• 4

  The insurance services rendered to a foreign shipping company are treated as?

  回答

  (A)

  invisible export
• 5

  Dividing the market for a product according to potential buyers who have common characteristics is?

  回答

  (C)

  market segmentation
• 6

  Which of the following aids to trade facilitates production ahead of demand

  回答

  (D)

  warehousing
• 7

  When a government acquires business enterprises formerly owned by individuals, it is termed?

  回答

  (D)

  nationalization
• 8

  How many countries make up the River Niger Basin commission

  回答

  (D)

  9
• 9

  Which of the following means of payment makes the bank both the drawer and drawee

  回答

  (C)

  bank draft
• 10

  An association that protects the interest of members in the same line of business is?

  回答

  (C)

  trade association
• 11

  The value of bamidele authorized share capital is?

  回答

  (A)

  N160,000,000
• 12

  Which of the following aids to trade is used to stimulate demand for goods

  回答

  (D)

  advertising
• 13

  The term consumer sovereignty means that?

  回答

  (C)

  buyer is the king
• 14

  Which of the following activities is classified under extractive industry?

  回答

  (A)

  exploration of minerals
• 15

  calculate the gross profit by BYX Enterprise

  回答

  (B)

  D9,000
• 16

  what is the rate of turnover by BYX Enterprise

  回答

  (C)

  3.0 times
• 17

  which of the following workers is engaged in construction occupation

  回答

  (A)

  mason
• 18

  A cheque which the bank refused to pay because the drawer had insufficient funds in his account is?

  回答

  (A)

  a bounced cheque
• 19

  which of the following is a function of the retailer to the wholesaler

  回答

  (B)

  providing information on market trends
• 20

  The term utmost good faith in insurance means?

  回答

  (A)

  both the insured and insurer must disclose all information
• 21

  Which of the following business units enjoys government subsidies

  回答

  (D)

  public enterprises
• 22

  Duty drawback refers to duties paid on?

  回答

  (B)

  re-exported goods previously imported
• 23

  The capital used in the day to day running of a business is?

  回答

  (B)

  working capital
• 24

  Which of the following is classified under current assets

  回答

  (C)

  stock
• 25

  The reduction in the value of a country's currency in  relation to others is?

  回答

  (B)

  devaluation
• 26

  which of the following is an aspect of marketing concept

  回答

  (A)

  product differentiation
• 27

  Retail outlets which sell from specialized vans are called?

  回答

  (D)

  mobile shop
• 28

  the practice of selling goods in foreign markets at a price lower than the cost price is?

  回答

  (D)

  dumping
• 29

  A cheque made payable to a named person is?

  回答

  (C)

  an order cheque
• 30

  a house insured against damage by flood was burnt down and the owner had no claim. which of the following principles prevented him from making a claim

  回答

  (D)

  proximate cause
• 31

  the market for short term security is called?

  回答

  (C)

  money market
• 32

  which of the following principls stipulates that the insured must be in a position to suffer financial loss?

  回答

  (C)

  insurable interest
• 33

  when shares are sold ex-div it means the?

  回答

  (D)

  seller has right to the next dividend
• 34

  turnover could be increased by

  回答

  (B)

  advertising and cutting prices
• 35

  commerce started as a result of?

  回答

  (B)

  consumption
• 36

  which of the following is used for making payments to many people in a single cheque

  回答

  (C)

  bank draft
• 37

  equity interest in a company is represented by?

  回答

  (D)

  ordinary shares
• 38

  when two insurers are liable under a given common policy, the principle of insurance that applies is?

  回答

  (D)

  contribution
• 39

  All activities aimed at creation of a good image for an organisation are referred to as

  回答

  (C)

  public relation
• 40

  which of the following is a disadvantage of foreign trade

  回答

  (A)

  it encourages dumping
• 41

  the study to discover consumers' preference and needs is called

  回答

  (C)

  market research
• 42

  a private limited liability company differs from a public limited liability because it

  回答

  (A)

  does not issue its shares to the public
• 43

  which of the following is a disadvantage of retailing

  回答

  (A)

  selling on credit
• 44

  A tax charged in proportion to the value of imported goods is?

  回答

  (B)

  ad valorem
• 45

  which of the following is a reason for failure of public corporations

  回答

  (B)

  inadequate funding