2016 JAMB COMMERCE PAST QUESTIONS AND ANSWERS Leave a Comment / Jamb Commerce / By Jamb Tutor Report a question What’s wrong with this question? You cannot submit an empty report. Please add some details. 0% 0 votes, 0 avg Created by Jamb TutorJamb Commerce 2016 JAMB COMMERCE PAST QUESTIONS AND ANSWERS 1 / 40 Category: Jamb Commerce 2016 1. A lawyer that defrauds his client may be debarred by the Nigerian Bar Association in order to a) protect other lawyers b) protect the integrity of the association c) prevent the client from suing the association d) compensate the affected client Debarring a lawyer who defrauds a client is intended to protect the integrity of the Nigerian Bar Association. This measure discourages unethical behavior among lawyers and safeguards the association’s reputation. Thus, Option B is correct. 2 / 40 Category: Jamb Commerce 2016 2. The sole legal right held by the author to publish his book is a a) trademark b) copyright c) bookmark d) patent right Copyright provides exclusive legal rights for an author to reproduce, distribute, or perform their work, ensuring the author’s intellectual property is protected. Trademarks protect brand symbols, and patents protect inventions. 3 / 40 Category: Jamb Commerce 2016 3. A country is said to be experiencing an unfavorable balance of trade if a) exports exceed imports b) imports exceed visible exports c) visible exports exceed visible imports d) imports and exports are equal An unfavorable balance of trade occurs when a country’s imports exceed its visible exports, leading to a trade deficit. This means the country spends more on imports than it earns from exports. Thus, Option B is correct. 4 / 40 Category: Jamb Commerce 2016 4. The slogan, “A wonderful world,” used by a communication network is a form of a) packaging b) publicity c) product differentiation d) persuasive advertising Persuasive advertising aims to create a positive image and persuade potential customers by appealing to emotions. A slogan like “A wonderful world” helps differentiate the product and attracts consumers. Thus, Option D is correct. 5 / 40 Category: Jamb Commerce 2016 5. A major factor that affects business operations is a) technology b) supply c) rivalry d) product Technology significantly impacts business operations by improving efficiency, production processes, and customer experience. It is a major factor as compared to other options. Therefore, Option A is correct. 6 / 40 Category: Jamb Commerce 2016 6. A business partner who provides capital but abstains from participation in the administration of a firm is a) general partner b) nominal partner c) dormant partner d) secret partner A dormant partner invests in the business without participating in daily operations or management, unlike a general or nominal partner who might be involved. Thus, Option C is correct. 7 / 40 Category: Jamb Commerce 2016 7. Money can simply be referred to as a) a measure b) standard of value c) durable asset for doing business d) means of settlement Money is primarily a means of settlement, a function that defines it as a medium of exchange. Other options do not encompass its core function. Therefore, Option D is correct. 8 / 40 Category: Jamb Commerce 2016 8. The physical components of a computer system are a) software b) hardware c) floppy disc d) hard disc Hardware refers to the physical components of a computer, such as the CPU, monitor, and keyboard, whereas software is intangible. Therefore, Option B is correct. 9 / 40 Category: Jamb Commerce 2016 9. Buying, selling, and distribution of goods and services are components of a) retail trade b) commerce c) wholesale trade d) marketing Commerce includes all activities that facilitate the buying, selling, and distribution of goods and services, unlike retail or wholesale trade, which are specific to certain levels. Therefore, Option B is correct. 10 / 40 Category: Jamb Commerce 2016 10. A company has an authorized share capital of ₦15,000. It offered applicants ₦10,000 share capital, out of which the company collected ₦7,500. What is the paid-up capital? a) ₦5,000 b) ₦25,000 c) ₦7,500 d) ₦17,500 The paid-up capital is the amount of share capital collected, which here is ₦7,500. Paid-up capital represents the actual funds received by the company from shares. Thus, Option C is correct. 11 / 40 Category: Jamb Commerce 2016 11. A suitable advertising medium for a producer of jeans is a) informative advertising b) indirect advertising c) competitive advertising d) direct advertising Direct advertising is effective for targeting specific consumers, making it suitable for products like jeans aimed at particular demographics. Thus, Option D is correct. 12 / 40 Category: Jamb Commerce 2016 12. The role of customs and excise authorities includes the a) provision of a good transport system to facilitate imports and exports b) provision of dockyards for ship repairs c) provision of security at the port d) control of the inflow of goods in and out of the country Customs and excise authorities control the inflow and outflow of goods to ensure legal trade and compliance, not to provide security or dockyards. Therefore, Option D is correct. 13 / 40 Category: Jamb Commerce 2016 13. The rate of turnover of a firm in a given year is 5 times while the average stock is ₦12,500. What is the turnover of the firm? a) ₦65,000 b) ₦62,500 c) ₦20,000 d) ₦48,500 Turnover is calculated as the turnover rate multiplied by the average stock. Here, ₦12,500 x 5 = ₦62,500. Thus, Option D is correct. 14 / 40 Category: Jamb Commerce 2016 14. Commercial activities in Nigeria have greatly been enhanced due to improvement in a) transportation system b) insurance activities c) communication network d) warehousing activities Improved transportation systems significantly enhance commercial activities by facilitating the movement of goods and services, making Option A the correct answer. 15 / 40 Category: Jamb Commerce 2016 15. The differences between indemnity insurance and non-indemnity insurance is that the latter provides a) cover for exporters against risks b) cover for importers against risks c) consolation payment to the insured d) full payment to the insured Non-indemnity insurance offers consolation payments, unlike indemnity insurance which covers actual losses. This makes Option C the correct answer. 16 / 40 Category: Jamb Commerce 2016 16. An auxiliary to trade that easily links suppliers with consumers is a) tourism b) banking c) transportation d) communication Transportation connects suppliers with consumers by moving goods from one place to another, unlike tourism or banking. Therefore, Option C is correct. 17 / 40 Category: Jamb Commerce 2016 17. A shop with many stores trading under a single roof which stocks varieties of goods with separate unit heads is a) supermarket b) department store c) superstore d) multiple shop A department store offers a wide range of goods under one roof, with each section managed separately, making it distinct from supermarkets or multiple shops. Thus, Option B is correct. 18 / 40 Category: Jamb Commerce 2016 18. One of the services rendered by NITEL is a) courier services b) photo-telegram service c) banking service d) business reply services NITEL, the former Nigerian telecommunications company, provided services like photo-telegrams, which are telecommunications-based, not courier or banking services. Thus, Option B is correct. 19 / 40 Category: Jamb Commerce 2016 19. The two main forms of communication are a) oral and written b) verbal and non-verbal c) traditional and modern media d) e-mail and fax Communication is typically classified into oral (spoken) and written forms, distinguishing it from other types like digital formats. Therefore, Option A is correct. 20 / 40 Category: Jamb Commerce 2016 20. The process of transferring data from one computer to another is referred to as a) downloading b) faxing c) coding d) browsing Downloading refers to data transfer from one computer to another, unlike faxing or coding which are specific to different data processes. Thus, Option A is correct. 21 / 40 Category: Jamb Commerce 2016 21. When a cheque is crossed, it holds that a) the cheque is traceable in the event of theft b) it can be cashed over the counter c) whoever presents it gets paid d) creditors without current accounts can be paid A crossed cheque ensures it is traceable and secure by limiting its cashability to the bank. Option A is correct as it relates to security features. 22 / 40 Category: Jamb Commerce 2016 22. The coming together of consumers to protect their rights is referred to as a) consumerism b) consumer sovereignty c) caveat emptor d) consumer protection Consumerism is a movement aimed at protecting consumer rights against unfair trade practices, making Option A correct. 23 / 40 Category: Jamb Commerce 2016 23. The final link in the chain of distribution is a) middlemen b) retailing c) wholesaling d) consumer The consumer is the last link in the distribution chain, as they are the end-users of the product. Other options, like middlemen and wholesalers, play intermediary roles before the product reaches the consumer. Thus, Option D is correct. 24 / 40 Category: Jamb Commerce 2016 24. The sub-division of a market into homogeneous subsets of consumers with relatively similar product needs is a) marketing concept b) marketing mix c) market segmentation d) market research Market segmentation involves dividing the market into subgroups of consumers with similar needs or characteristics. It helps in targeting specific demographics effectively. Therefore, Option C is correct. 25 / 40 Category: Jamb Commerce 2016 25. A contract can be terminated through a) physical combat b) family intervention c) consultation d) frustration A contract can end due to frustration when unforeseeable events make performance impossible or unlawful. Physical combat or family intervention is unrelated to legal contract termination. Thus, Option D is correct. 26 / 40 Category: Jamb Commerce 2016 26. An organization that issues a cheque to cover the salaries of its employees is using a) credit transfer b) payment by standing order c) overdraft system of payment d) bank order of crediting accounts A credit transfer system allows companies to pay employees via bank transfers, ensuring that funds are directly deposited into employee accounts. Thus, Option A is correct. 27 / 40 Category: Jamb Commerce 2016 27. Management of business involves the development of ideas for a) distribution of goods and services b) transportation of goods and services c) human needs d) transfer of goods and services to individuals Business management focuses on creating and distributing goods and services to satisfy consumer needs, making Option A the correct answer. 28 / 40 Category: Jamb Commerce 2016 28. A software application which enables a user to display and interact with text, video, and audio is the a) web server b) web browser c) file transfer protocol d) internet protocol A web browser is an application that allows users to access and interact with multimedia on the internet, unlike servers and protocols. Thus, Option B is correct. 29 / 40 Category: Jamb Commerce 2016 29. Trading position of Nigeria is the same as her a) desire to trade with many countries b) terms of trade c) willingness to grant credit facilities d) balance of trade Nigeria’s trading position is reflected in her terms of trade, which compares the prices of exports to imports. Other options do not directly measure trade position. Therefore, Option B is correct. 30 / 40 Category: Jamb Commerce 2016 30. Gilt-edged securities are issued mainly by a) individuals b) non-governmental organizations c) multinational companies d) government Gilt-edged securities are low-risk investments, primarily issued by the government to raise capital, as opposed to companies or individuals. Therefore, Option D is correct. 31 / 40 Category: Jamb Commerce 2016 31. Which of the following is a quality of money? a) availability b) scarcity c) convertibility d) indivisibility Convertibility is a key quality of money, allowing it to be exchanged for other currencies or goods. Other options like availability or scarcity are not intrinsic qualities of money. Thus, Option C is correct. 32 / 40 Category: Jamb Commerce 2016 32. An important factor that influences the location of cement industries in an area is a) attitude of individuals b) skill and training c) political bias d) natural resources Natural resources, such as limestone deposits, influence cement industry locations, unlike factors like political bias. Therefore, Option D is correct. 33 / 40 Category: Jamb Commerce 2016 33. Setting of objectives and determining how they can be accomplished is a) organizing b) directing c) coordinating d) planning Planning is the process of setting objectives and determining how to achieve them, which is central to management. Thus, Option D is correct. 34 / 40 Category: Jamb Commerce 2016 34. The type of labor that makes use of physical effort in production processes is a) unskilled labor b) white-collar job c) skilled labor d) blue-collar job Blue-collar jobs involve manual labor, as opposed to skilled or white-collar jobs, which require specific expertise. Thus, Option D is correct. 35 / 40 Category: Jamb Commerce 2016 35. A microprocessor is an electronic circuit that functions as a) audio access memory b) transmission protocol c) file transfer protocol d) central processing unit The microprocessor is the central processing unit (CPU) of a computer, responsible for executing instructions. Thus, Option D is correct. 36 / 40 Category: Jamb Commerce 2016 36. The breaking down of a market into separate and identifiable elements is known as a) differentiation b) segmentation c) penetration d) skimming Market segmentation divides a market into groups with similar needs, aiding targeted marketing. Differentiation and penetration are distinct strategies. Thus, Option B is correct. 37 / 40 Category: Jamb Commerce 2016 37. A country’s terms of trade are said to improve when the ratio of her export prices a) decreases b) equals imports c) remains constant d) increases Terms of trade improve when the prices of a country’s exports increase relative to imports, indicating greater economic benefit. Thus, Option D is correct. 38 / 40 Category: Jamb Commerce 2016 38. Money is generally acceptable for transactions due to a) the legal backing b) the rule of law c) Central Bank Governor’s signature d) global market acceptance Money’s acceptance is due to its legal backing, making it universally recognized in the economy. Thus, Option A is correct. 39 / 40 Category: Jamb Commerce 2016 39. Which of the following advertising mediums appeals to the literacy in the society? a) radio advertising b) cinema advertising c) television advertising d) print advertising Print advertising, such as newspapers, requires literacy to understand the content, unlike audio-based mediums like radio. Therefore, Option D is correct. 40 / 40 Category: Jamb Commerce 2016 40. The essential utility derived from the use of a branded product by the consumer is a) goodwill b) branded benefit c) tangible benefit d) personal benefit The branded benefit is the perceived advantage consumers derive from branded goods, which differentiates them from generic products. Thus, Option B is correct. Your score is The average score is 0% LinkedIn Facebook Twitter VKontakte 0% Restart quiz Anonymous feedback Send feedback
