POST UTME KSU 2022 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is considering entering a new market. What is the primary factor that will influence the company's decision?
A. The company's financial resources
B. The company's marketing strategy
C. The market size and growth potential
D. The level of competition in the market
Question 2
A consumer protection agency has received a complaint about a company's unfair business practices. What is the primary responsibility of the agency?
A. To investigate the complaint and take action against the company
B. To provide education and awareness about consumer rights
C. To regulate the company's business practices
D. To provide compensation to affected consumers
Question 3
A consumer protection agency has received a complaint about a company's misleading advertising. Which of the following is a key principle of consumer protection law?
A. The right to withdraw from a contract
B. The right to a refund
C. The right to truthful information
D. The right to a guarantee
Question 4
A company's cost function is given by C = 2L + 3K. If the firm's current labor and capital inputs are L = 4 and K = 2, respectively, then the total cost of production is
A. 10
B. 12
C. 14
D. 16
Question 5
A consumer purchases a product online and receives a defective item. What is the consumer's recourse under the Consumer Protection Act 1999?
A. To return the product and receive a full refund
B. To exchange the product for a new one
C. To claim damages for the defective product
D. To file a complaint with the relevant authorities
Question 6
A firm is considering investing in a new advertising campaign. The campaign will cost ₦500,000 to implement and is expected to generate ₦1,500,000 in revenue over the next 6 months. What is the return on investment (ROI) for the campaign?
A. 300%
B. 400%
C. 500%
D. 600%
Question 7
A company's articles of association outline the rules and regulations governing its internal management. Which of the following is NOT a typical provision found in articles of association?
A. Appointment of directors
B. Dividend payment policy
C. Share capital structure
D. Nationality of directors
Question 8
A firm is considering investing in a new warehouse. The warehouse will cost ₦2,500,000 to build and will have a useful life of 10 years. The firm expects to use the warehouse for 5 years and then sell it for ₦1,000,000. What is the present value of the investment?
A. ₦1,250,000
B. ₦1,500,000
C. ₦1,750,000
D. ₦2,000,000
Question 9
A company is considering the use of a new transportation method to reduce costs. What is the primary advantage of using a just-in-time (JIT) delivery system?
A. Reduced transportation costs
B. Improved inventory management
C. Increased flexibility in production scheduling
D. Enhanced customer satisfaction
Question 10
A production process that involves the transformation of raw materials into finished goods is known as?
A. Manufacturing
B. Crafting
C. Assembling
D. Packaging
Question 11
A company is considering the use of a foreign trade agreement. Which of the following is a key benefit?
A. Reduced tariffs
B. Increased market access
C. Improved product quality
D. Enhanced customer satisfaction
Question 12
A company's marketing strategy involves creating a brand identity that is consistent across all channels. What is the primary goal of this strategy?
A. To increase brand awareness
B. To create a consistent brand image
C. To build customer loyalty
D. To increase sales revenue
Question 13
A sole trader's business is considered a separate legal entity from its owner. However, the owner's personal assets are not protected in case of business debts. What is the name of this type of business?
A. Sole Proprietorship
B. Partnership
C. Limited Liability Company
D. Cooperative
Question 14
A company is considering the implementation of a just-in-time (JIT) inventory system. Which of the following is a key benefit of JIT?
A. Reduced inventory costs
B. Improved product quality
C. Increased production efficiency
D. Enhanced customer satisfaction
Question 15
A company in Nigeria engages in the sale of insurance policies. The company is required to comply with the provisions of the Insurance Act. Which of the following is a key provision of the Act?
A. The Act provides for the regulation of the sale of insurance policies.
B. The Act provides for the prohibition of the sale of insurance policies to minors.
C. The Act provides for the establishment of an Insurance Regulatory Authority.
D. The Act provides for the exemption of certain insurance policies from regulation.

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