POST UTME FUTA 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company's foreign trade involves importing goods from a foreign country. The company pays for the goods in the foreign currency. What type of exchange rate would the company use to convert the foreign currency to the domestic currency?
A. Spot rate
B. Forward rate
C. Market rate
D. Nominal rate
Question 2
The concept of 'just-in-time' inventory management is closely related to the principles of which of the following transportation modes?
A. Air Transport
B. Rail Transport
C. Road Transport
D. Sea Transport
Question 3
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, how many units of labor (L) and capital (K) should it hire?
A. L = 4, K = 4
B. L = 8, K = 2
C. L = 2, K = 8
D. L = 16, K = 1
Question 4
A firm's marketing strategy involves creating a unique selling proposition (USP) to differentiate its product from competitors. Which of the following is a characteristic of a USP?
A. It is a statement that highlights the product's features and benefits
B. It is a statement that emphasizes the product's price advantage
C. It is a statement that focuses on the product's quality
D. It is a statement that emphasizes the product's brand name
Question 5
The following diagram shows the demand and supply curves for a competitive market. If the price of the good increases from P1 to P2, what will happen to the equilibrium quantity?
A. Increase
B. Decrease
C. Remain the same
D. Become negative
Question 6
A company's Articles of Association state that the company's business is to manufacture and sell textiles. However, the company starts manufacturing and selling electronics. What is the legal implication of this?
A. The company's business is still valid.
B. The company's shareholders are not protected.
C. The company's directors are liable for any business debts.
D. The company's business is not valid.
Question 7
A company has a market share of 30% in the industry. If the industry growth rate is 5%, what is the company's expected growth rate?
A. 10%
B. 15%
C. 20%
D. 25%
Question 8
A company is considering the use of a total quality management (TQM) approach to improve its operations. Which of the following is a key benefit of TQM?
A. Improved Product Quality
B. Reduced Costs
C. Increased Customer Satisfaction
D. All of the above
Question 9
A warehouse has a storage capacity of 10,000 units. The warehouse is currently 70% full. If 500 units are added to the warehouse, what is the new percentage of the warehouse that is full?
A. 60%
B. 65%
C. 70%
D. 75%
Question 10
A company's Memorandum and Articles of Association are not filed with the Corporate Affairs Commission (CAC). What is the legal implication of this?
A. The company is not recognized by law.
B. The company's shareholders are not protected.
C. The company's directors are not liable for any business debts.
D. The company's business is not valid.
Question 11
A company is considering the use of a just-in-time (JIT) inventory system. Which of the following is a potential disadvantage of this system?
A. Increased Inventory Costs
B. Reduced Inventory Turnover
C. Decreased Product Quality
D. Improved Supply Chain Efficiency
Question 12
A warehouse manager is considering the use of a first-in-first-out (FIFO) inventory system. Which of the following is a potential advantage of this system?
A. Reduced Inventory Costs
B. Improved Inventory Turnover
C. Increased Storage Capacity
D. Enhanced Product Quality
Question 13
A company's marketing strategy involves creating a brand image that appeals to a specific demographic. This approach is an example of which of the following marketing strategies?
A. Segmentation
B. Targeting
C. Positioning
D. Differentiation
Question 14
A firm is considering a new product launch. The firm's marketing manager estimates that the product will sell 10,000 units in the first year, with a revenue of ₦100 per unit. The firm's production costs are ₦50 per unit, and the firm's fixed costs are ₦500,000. What is the firm's expected profit from the product launch?
A. ₦750,000
B. ₦850,000
C. ₦950,000
D. ₦1,050,000
Question 15
A company's foreign trade policy is influenced by which of the following factors?
A. Government Regulations
B. Market Demand
C. Technological Advancements
D. Environmental Concerns

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: