Jamb Commerce Likely Questions For 2022

What will Jamb set in commerce for 2022 UTME and what are the top hot likely questions to come out in Jamb Commerce? Continue reading for Jamb commerce Questions and Answers.

The 40 Questions and answers will cover every Chapter in Jamb commerce. However, the Likely commerce Questions will not be arranged topic by topic.

 Jamb Commerce Questions And Answers

1. What is the Capital market for?

Answer: Long term loans

2. A document sent to a customer at regular intervals to enable him know his indebtedness to his supplies is known as

Answer: Statement

3. The physical components of a computer system refers to

Answer: Hardware

4. Ships used for international transport are

Answer: Ocean Liners

5. The sum of money paid by a policyholder to an insurer is referred to as

Answer: Premium

6. The warehouse that is owned and controlled by the government is a?

Answer: State warehouse

7. What is a major function of a chamber of commerce?

Answer: Promoting both home and foreign trade

8. Efforts geared towards establishing and maintaining good image for a company is termed…

Answer: Public relations

9. The agreement of insurers to spread risks among themselves is a major feature of …

Answer: Re-insurance

10. The conversion of raw materials into finished products creates Form Utility.

11. The focal point of marketing is

Answer: Sales

12. Entreport trade refers to

Answer: Importing for re-exporting

13. What guarantees the keeping of money for a long period?

Answer: Durability

14. The right to retain possession of goods until the contract is paid is known as

Answer: A lien

15. An advertising medium which combines the advantage of sound and motion is?

Answer: Television

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16. A study to discover consumer’s preferences and needs is called…

Answer: Market Segmentation

17. Dumping means selling goods abroad At a lower price than in the home market.

18. The exchange of goods for other goods in home trade is known as

Answer: Barter Trade

19. The process of transferring data from one computer to another is referred to as

Answer: Downloading

20. James purchased goods from Samson and is to pay custom duties before collection. The goods are likely to be collected from a?

Answer: A bonded warehouse

21. Commerce is defined as the study of what?

Answer: Study of how man buys, sells, and distribute goods and services.

22. An international trade, exchanging goods for other goods and services purchased instead of paying in foreign currency is known as

Answer: Counter trade

23. The market structure, business consitions and financial systems in Nigeria constitute the

Answer: Economic Environment

24. The system of parting with authority but not responsibility is known as

Answer: Delegating

25. When the old customer stick to the old places to buy goods and services, it is known as

Answer: Goodwill

26. Who is liable for the contracts entered into by the agent on behalf of his principal?

Answer: Prinicipal

27. The insurance principle that requires full disclosure of information on the insured is known as

Answer: Uberrimae Fidei

28. ___ Requires acceptance by debtor to make it valuable.

Answer: Bill of exchange

29. An aspect of commerce that facilitates the distribution of product is

Answer: Transportation

30. The difference between personal selling and sales promotion is that sales promotion includes free gifts and samples, personal selling involves___

Answer:  Face-to-face communication with customers

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31. An agreement between two parties which can be enforced is called

Answer: A contract

32. The most suitable organizational structure for a small or medium-sized enterprise is

Answer: Line structure

33. The type of advertising that seeks to persuade consumers to buy a particular product is

Answer: Persuasive advertising

34. A machine which enables sales without the physical presence of the sale attendant is a

Answer: Vending Machine

35. The variety of goods and services which company offers for sales is its

Answer: Product Mix

36. A distinctive symbol, title or design that readily identifies the company and its product is

Answer: Trademark

37. An individual who makes the final use of goods and services provided by a firm is the ___

Answer: Consumer

38. Treasury bills are issued by

Answer: Central bank

39. The essential utility derived from the use of a product is known as

Answer: Core benefit

40.  Ocean liners are subdivided into

Answer: Passenger liners and cargo liners

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All Jamb Commerce Questions

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