Likely 2018 UTME commerce questions

*Likely 2018 UTME COMMERCE questions*

1. The most important factor that delayed the
development of commerce in Nigeria was
A. the inefficient means of communication
B. that there were few entrepreneurs
C. the unavailabity of infrastructural facilities
D. that there were few developed markets
2. Secondary production has to do with changing the
A. shape of raw materials through construction operation
B. physical form of raw materials into finished goods
C. utility of raw material by engineering process
D. nature of raw materials through manufacturing
3. The major responsibility of an entrepreneur is
A. employing all factors of production in the business
B. coordinating and determining the proportion of what to
produce
C. planning and organizing all activities in the business
D. directing and controlling all the affairs of the business
4. Which of the following best describe the scope of
commerce?
A. All forms of commercial exchanges and the
manufacturing industry
B. buying and selling and the construction industry
C. all occupational exchanges relating to industries and
commercial activities
D. buying and selling as well as the extraction of natural
resources.
5. Capital as a factor of production can be used as
A. money that is regarded as asset
B. goods that is useful in business
C. input for further production
D. service that provide satisfaction
6. The agency that currently oversee the privatization and
commercialization processes in Nigeria is the
A. securities and exchange commission
B. technical committee on privatization and
commercialization
C. Nigeria stock exchange
D. bureau of public enterprises.
7. Okeze contracted to sell TV sets to Ojo, unknown to
them, the sets were stolen in transit. This contract my be
terminated on the grounds of
A. bankruptcy
B. frustration
C. fraudulence
D. breach of contract
8. Which of the following countries are member of the
lake Chad Basin Commission?
A. Nigeria
B. Benin and Nigeria
C. Chad and Benin
D. Nigeria and Mali
9. A core investor in the current phase of privatization in
Nigeria is one who
A. can afford to buy most of the shares of the enterprises
B. will be at the core of the enterprises
C. can mobilize foreign currency equivalent to the value of
the enterprises
D. has the technical know-how of the enterprises.
10. The agency in Nigeria which ensure that products
conform to government quality specification is the
A. standard organization of Nigeria
B. Nigeria consumer’s association
C. manufactures association of Nigeria
D. Nigeria chamber of commerce
11. An example of service rendering trade association is
A. Nigerian Bar Association
B. Association of Nigerian Miners
C. Cocoa Farmers Association
D. Manufacturers Association of Nigerian.
12. The commercialization of public enterprises is aimed
at
A. increasing efficiency and making the enterprises self-
sufficient
B. advertising and promoting the goods and services of
the enterprise
C. increased assistance and patronage of the enterprises
by the public
D. selling the goods and services of the enterprises
13. An author is exclusive right to his published and
unpublished works is known as
A. authors right
B. constitutional right
C. patent right
D. copyright
14. Under an endowment policy, the money handed over
to the insured at the expiration of the stipulated time or at
death is the
A. indemnity
B. surrender value
C. lump sum benefit
D. insurance premium
15. The machine used for sending telex message is
known as a
A. radar
B. fax machine
C. Dictaphone
D. teleprinter
16. Which of these insurance principles requires a close
connection between the actual loss suffered and the risk
insured?
A. Indemnity
B. proximate cause
C. contribution
D. subrogation
17. The unit through which the results of a processed
data are displayed is the
A. logic unit
B. display unit
C. control unit
D. output unit
18. Which of the following is used to inform the
addressee that a registered parcel is ready for collection?
A. Express label
B. counterfoil
C. telegram
D. Slip
19. The type of computer commonly found in offices is
A. laptop
B. desktop
C. the hybrid computer
D. the main frame computer
20. The mode of transporting crude oil to the ports for
export purposes is by
A. tanker B. rail C. road D. pipeline
21. The temporary insurance certificate issued to the
insured before drawing up a policy is a
A. cover note
B. testimonial
C. time policy
D. proposal form
22. The bulls and bears in the Stock Exchange market
help to minimize
A. the number of shares and bonds sold
B. price increases of securities
C. fluctuations in the prices of securities
D. the elasticity of the prices of securities
23. Debentures differ from shares in that
A. they are secured on the company’s assets
B. ownership is open to the public
C. they form part of the capital of the business
D. rewards are usually paid out of profit.
24. The Stock Exchange is a market where
A. long-term securities are sold
B. all types of securities are sold
C. short term securities are sold
D. medium-term securities are sold
25. A retail cooperative society aims at
A. hoarding manufactured goods
B. cutting off the profits of middlemen
C. lending money to member at low interests
D. encouraging members to save money
26. A bill of exchange already accepted can be
discounted by the holder in
A. the Central Bank
B. at least two banks
C. his bank
D. any bank
27. The document issued by the seller which gives details
of the goods he sells is known as
A. catalogue
B. tender
C. price list
D. invoice
28. Given: I Retail, II export, III Transport, IV import, V
Insurance, VI banking and finance insurance VII wholesale
VIII communication.
Which of the above are aids to trade?
A. I, II, III and VIII
B. III, V, VI and VIII
C. I, II, III and VI
D. II, V, VI and VII
29. The organizational structure that relates the positions
of specialists to the line managers is called
A. line structure
B. staff structure
C. line and staff structure
D. .functional structure
30. A wholesaler who possesses the title to the goods he
sell is known as
A. a merchant wholesaler
B. a multiple wholesaler
C. a general wholesaler
D. an agent wholesaler
31. An important principle of a good organizational
structure is
A. ideal standard
B. span of control
C. clarity of mission
D. adequacy of resources
32. A company that is registered with the Corporate
Affairs Commission only without being enlisted on the
stock exchange is a
A. public liability company
B. joint ventures company
C. limited company
D. registered company
33. A contract for the sale of goods involves the
A. producer, the seller and the buyer of goods
B. offering of goods to customers
C. transfer of title to goods for money
D. exchange of goods
34. The total of the share capital which a company would
be allowed to issue is known as
A. called-up capital
B. paid up capital
C. nominal capital
D. issued capital
35. The process of mobilizing, engaging and maintaining
workers to work for an organization is referred to as
A. staffing
B. selection
C. recruitment
D. employment
36. Recognized members of the Stock Exchange who buy
and sell securities on their own behalf are known as
A. bull
B. jobbers
C. broker
D. stagers
37. Which of the following involves foreign trade?
A. Supermarkets
B. chain stores
C. departmental storesD. commodity market
38. Which of the following is a function of employers’
association?
A. Undertaking research on behalf of employees
B. promotion of thrift in workers
C. promotion of workers welfare........

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