JAMB Commerce Past Questions (1994-2003)
This collection of past JAMB Commerce questions from 1994 to 2003 offers invaluable practice for aspiring university students in Nigeria. It covers a wide spectrum of commerce-related topics, from the fundamentals of trade and finance to the intricacies of management, marketing, and business law. By working through these questions, candidates can gauge their understanding, identify areas of weakness, and become familiar with the exam format and question style.
About This Exam
This collection of past JAMB Commerce questions from 1994 to 2003 offers invaluable practice for aspiring university students in Nigeria. It covers a wide spectrum of commerce-related topics, from the fundamentals of trade and finance to the intricacies of management, marketing, and business law. By working through these questions, candidates can gauge their understanding, identify areas of weakness, and become familiar with the exam format and question style.
Topics Covered
Exam Structure
- Question Formatmcq
- Total Questions65
- Estimated Duration22 minutes
- Difficulty LevelMedium
Learning Objectives
- •Understand key concepts in Commerce, including trade, finance, management, and marketing.
Prerequisites
A foundational understanding of basic economic principles and business concepts is recommended.
Sample Questions
Get a taste of what to expect in the full exam.
The application of division of labour should gene bring about
increase in the variety of goods and se
increase in the quantity of goods and s
cheapness of goods and services
cost effiiciency in the production of goo services
Adigun displays goods of different makes in his supermarket. This is an exmple of
invitation to treat
offer to sell
offer to purchase
invitation to
I foreign investment. II Long-term lending III. Short-term lending IV. Foreign exchange reserve V. Short-term borrowing. Which combination of the above include capital account in international trade?
I, III and IV
II, III and IV
II and V
I and II
Okon Etim Esin is the
debtor
creditor
exporter
importer
The overriding advantage of home trade over foreig is
accessibility of seller to buyer
absence of many documents
ease in language of transaction
easein form of payment.
The measure of independence available to the individual buisness units that come together is the main difference between
vertical and horizontal integration
merges and acquisitions
trust and cartel
consortium and amalgamation
Kabir receives two quotations. Ade quotes N less trade discount, while Benson quotes N less trade discount and cash discount. If Kabir wants to take advantage of trade and cash discount, then
the materials should be supplied by Ade
the materials should be supplied by both of them
the materials should be supplied by Benson
Benson should be asked to reduce his trade
Tolu purchased goods from Yemisi and is to pay custom duties before collection. The goods are likely to be collected from
a manufacturer's warehouse
a bonded warehouse
an importer's warehouse
a wholesaler's warehouse.
The right of the public to protection against question able products and marketing practices is
an economic aspect of the business
a social responsibility of the business
a legal aspect of the business
a political aspect of the business.
The term '5 Net 7' on an invoice means that
discount will be allowed on the price charged if payment is made within seven days
discount will be allowed on the price charged if payment is made after seven days
surcharge will be made unless payment is made within seven days
discount will be allowed on the price charged only if the goods are bought within seven days.
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How to Prepare
Key Preparation Tips
- Thoroughly review each topic covered in the syllabus.
Mistakes to Avoid
- •Misinterpreting questions or overlooking keywords.
Success Criteria
A strong performance on this practice exam indicates a solid grasp of Commerce concepts and readiness for the JAMB UTME. Aim for a high accuracy rate to build confidence.
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