JAMB Commerce Past Questions 2017
10 questions from the JAMB 2017 Commerce paper, with answers and explanations. Tap "Show answer" under each one when you are ready.
JAMB 2017Question 1 · Business Organisation and Management
At the collapse of a business enterprises, the person appointed to dispose off the assets is called ________?
- A.an auctioneer
- B.a broker
- C.a liquidator
- D.an auditor
Show answer
Answer: C. a liquidator
A liquidator is appointed to dispose of assets when a business collapses.
JAMB 2017Question 2 · Business Organisation and Management
A major function of trade association is to _______
- A.assist members to buy cars
- B.help individuals to set up small business
- C.establish a link among member
- D.foster cooperation among members
Show answer
Answer: D. foster cooperation among members
A trade association's major function is fostering cooperation among members.
JAMB 2017Question 3 · Commerce Fundamentals and Occupations
The concept that refers to the sale, transfer or exchange of goods and services is
- A.industry
- B.trade
- C.tariff
- D.marketing
Show answer
Answer: B. trade
Trade refers to the sale, transfer or exchange of goods and services.
JAMB 2017Question 4 · Commerce Fundamentals and Occupations
The scope of commerce is limited to ________
- A.wholesale and entrepot trade
- B.trade and aids-to-trade
- C.wholesale and retail trade
- D.home and foreign trade
Show answer
Answer: B. trade and aids-to-trade
The scope of commerce is limited to trade and aids-to-trade.
JAMB 2017Question 5 · International, Wholesale, and Retail Trade
The government agency involved in issuing of export licences is _______?
- A.Nigeria Export Processing Zone
- B.Nigeria Export Promotion council
- C.Nigeria Port Authority
- D.Customs and Excise Authority
Show answer
Answer: B. Nigeria Export Promotion council
The Nigeria Export Promotion Council issues export licences.
JAMB 2017Question 6 · International, Wholesale, and Retail Trade
Factors considered when setting up a retail business is one of the following _________
- A.capital, experience and trading
- B.experience, term of trade, and trading
- C.capital, trading and term of trade
- D.capital, type of goods and source of supply
Show answer
Answer: D. capital, type of goods and source of supply
Setting up a retail business requires considering capital, type of goods and source of supply.
JAMB 2017Question 7 · Marketing and Advertising
Any activity directed at conveying commodities to buyers is an aspect _________
- A.selling
- B.delivering
- C.advertising
- D.marketing
Show answer
Answer: D. marketing
Conveying commodities to buyers is an aspect of marketing.
JAMB 2017Question 8 · Money, Banking, and Stock Exchange
The fees charged on postal order by the post office is _____?
- A.interest
- B.brokerage
- C.poundage
- D.premium
Show answer
Answer: C. poundage
Poundage is the fee charged on a postal order.
JAMB 2017Question 9 · Money, Banking, and Stock Exchange
The Nigeria Stock Exchange consist of ______
- A.primary and secondary-tier market
- B.secondary and primary market
- C.money and commodities market
- D.commercial and mortgage market
Show answer
Answer: A. primary and secondary-tier market
The Nigerian Stock Exchange consists of the primary and secondary-tier markets.
JAMB 2017Question 10 · Production and Insurance
An advantage of division of labour is _______?
- A.productivity and total output is increased
- B.monotony of task is eliminated
- C.loss of individual craftmanship is minimized
- D.interdependence of workers increase remuneration
Show answer
Answer: A. productivity and total output is increased
Division of labour increases productivity and total output.
Practise all 50 JAMB 2017 Commerce questions free
Answer them on Acelume, timed like the CBT, see the answer straight away and get a list of the topics you need to work on.
More JAMB Commerce past questions
Other subjects