JAMB Commerce Past Questions 2022
10 questions from the JAMB 2022 Commerce paper, with answers and explanations. Tap "Show answer" under each one when you are ready.
JAMB 2022Question 1 · Business Organisation and Management
Which of the following organizations provide essential goods and services at low cost to citizens?
- A.Thrift societies
- B.Public enterprises
- C.Private companies
- D.Cooperative societies
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Answer: B. Public enterprises
Public enterprises provide essential goods and services at low cost to citizens.
JAMB 2022Question 2 · Business Organisation and Management
A business unit in which savings of members are lent to others is a
- A.consumer cooperative society
- B.producer cooperative society
- C.credit and thrift society
- D.wholesale cooperative society
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Answer: C. credit and thrift society
A credit and thrift society lends members' savings to others.
JAMB 2022Question 3 · Commerce Fundamentals and Occupations
Commerce is defined as
- A.buying and selling of goods and services only
- B.all activities in the distribution and exchange of goods and services
- C.all activities involved in the production of goods and services
- D.transporting and warehousing of goods only
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Answer: B. all activities in the distribution and exchange of goods and services
Commerce covers all activities in the distribution and exchange of goods and services.
JAMB 2022Question 4 · Consumer Protection, Warehousing, and Taxation
Which of the following is not a right of a consumer?
- A.Right to a fair hearing
- B.Right to buy on credit
- C.Right to obtain replacement
- D.Right to safe product
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Answer: B. Right to buy on credit
The right to buy on credit is not a recognized consumer right.
JAMB 2022Question 5 · International, Wholesale, and Retail Trade
A document that instructs an agent to buy goods from a named firm is
A. proforma invoice
B. open indent
B. consular invoice
D. closed indent
- A.proforma invoice
- B.open indent
- C.consular invoice
- D.closed indent
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Answer: D. closed indent
A closed indent instructs an agent to buy goods from a named firm.
JAMB 2022Question 6 · International, Wholesale, and Retail Trade
A document issued by the seller's own courier and signed by the customer to acknowledge receipt of the goods is
- A.advice note
- B.consignment note
- C.delivery note
- D.freight note
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Answer: C. delivery note
A delivery note is signed by the customer to acknowledge receipt from the seller's courier.
JAMB 2022Question 7 · Marketing and Advertising
Consumers could be encouraged to purchase a company's product through
- A.research
- B.planning
- C.distribution
- D.advertisement
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Answer: D. advertisement
Advertisement encourages consumers to purchase a company's product.
JAMB 2022Question 8 · Marketing and Advertising
The marketing term which regards the consumer as king that must be satisfied is
- A.market segmentation
- B.market research
- C.marketing concept
- D.marketing mix
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Answer: C. marketing concept
The marketing concept regards the consumer as king who must be satisfied.
JAMB 2022Question 9 · Money, Banking, and Stock Exchange
A cheque is specially crossed if
- A.the name of the account holder is written between two parallel lines drawn across it
- B.it could be paid over the counter
- C.the name of the bank is written between two parallel lines drawn across it
- D.only two parallel lines are drawn across it
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Answer: C. the name of the bank is written between two parallel lines drawn across it
A cheque is specially crossed when the bank's name is written between two parallel lines.
JAMB 2022Question 10 · Money, Banking, and Stock Exchange
A cheque that could be cashed over the counter by the payee is
- A.certified cheque
- B.crossed cheque
- C.open cheque
- D.bank draft
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Answer: C. open cheque
An open cheque can be cashed over the counter by the payee.
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