POST UTME LASU 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is considering the introduction of a new product line. The product line requires a significant investment in marketing and advertising. Which of the following is the most appropriate marketing strategy for the new product line?
A. Segmentation
B. Targeting
C. Positioning
D. Product differentiation
Question 2
A company in Lagos engages in a marketing campaign that includes a misleading advertisement. The advertisement is broadcast on television and radio. What is the legal consequence of this action?
A. The company may be fined ₦100,000
B. The company may be ordered to cease broadcasting the advertisement
C. The company may be liable for damages to consumers who relied on the advertisement
D. The company may be exempt from liability if it can prove that the advertisement was not misleading
Question 3
A company in Lagos engages in a business practice that is unfair to consumers. The company is required to cease the practice under the Consumer Protection Law. What is the legal consequence of the company's failure to comply?
A. The company may be fined ₦500,000
B. The company may be ordered to pay damages to consumers who were affected by the unfair practice
C. The company may be liable for any losses incurred by consumers who were affected by the unfair practice
D. The company may be exempt from liability if it can prove that the practice was not unfair
Question 4
A consumer in Lagos purchases a product from an online retailer. The product is delivered late and the consumer seeks compensation under the Consumer Protection Law. What is the legal basis for the consumer's claim?
A. The Consumer Protection Law requires retailers to deliver products within a reasonable time
B. The Consumer Protection Law requires retailers to provide a refund if a product is not delivered on time
C. The Consumer Protection Law requires retailers to compensate consumers for any losses incurred due to late delivery
D. The Consumer Protection Law does not provide any protection for consumers who purchase products online
Question 5
A bank's balance sheet provides a snapshot of its financial position at a specific point in time. Which of the following is NOT a characteristic of a bank's balance sheet?
A. A bank's balance sheet typically includes assets, liabilities, and equity.
B. A bank's balance sheet typically includes only assets and liabilities.
C. A bank's balance sheet typically includes only equity and liabilities.
D. A bank's balance sheet typically includes only assets and equity.
Question 6
A warehouse has a storage capacity of 10,000 units. If the warehouse is currently storing 8,000 units, what is the maximum number of units that can be added to the warehouse without exceeding its capacity?
A. 1,000
B. 2,000
C. 3,000
D. 4,000
Question 7
A bank offers a 5% interest rate on deposits. If a customer deposits ₦10,000 for 2 years, what is the total interest earned?
A. ₦1,000
B. ₦2,000
C. ₦3,000
D. ₦4,000
Question 8
A company is considering two marketing strategies: Strategy A, which involves a 10% increase in advertising expenditure, and Strategy B, which involves a 5% increase in sales promotions. If the company's current advertising expenditure is ₦1,500,000 and its current sales promotions expenditure is ₦800,000, what is the total increase in expenditure under Strategy B compared to Strategy A?
A. ₦120,000
B. ₦150,000
C. ₦180,000
D. ₦200,000
Question 9
A company is considering the use of just-in-time (JIT) inventory management system. Which of the following is a major advantage of JIT?
A. Reduced inventory costs
B. Improved product quality
C. Increased flexibility in production planning
D. Enhanced customer satisfaction
Question 10
A company's marketing mix is a combination of the following elements: product, price, place, and promotion. Which of the following is NOT a characteristic of the product element?
A. Product quality is a key factor in the product element.
B. Product packaging is a key factor in the product element.
C. Product branding is a key factor in the product element.
D. Product pricing is a key factor in the product element.
Question 11
A firm is considering two pricing strategies for its product. Strategy A involves a high price, while Strategy B involves a low price. If the firm expects to sell 10,000 units of the product per month, which strategy should it choose?
A. Strategy A
B. Strategy B
C. Both strategies are equally effective
D. Neither strategy is effective
Question 12
A company is considering two export strategies for its product. Strategy A involves exporting to a high-growth market, while Strategy B involves exporting to a low-growth market. If the company expects to export 5,000 units of the product per year, which strategy should it choose?
A. Strategy A
B. Strategy B
C. Both strategies are equally effective
D. Neither strategy is effective
Question 13
A company has a 10% chance of experiencing a loss of ₦100,000 and a 90% chance of experiencing a gain of ₦50,000. What is the expected value of the company's returns?
A. ₦5,000
B. ₦10,000
C. ₦15,000
D. ₦20,000
Question 14
A firm's marketing mix strategy involves the 4 Ps: Product, Price, Place, and Promotion. Which of the following is NOT one of the 4 Ps?
A. Product
B. Price
C. Place
D. Profit
Question 15
A company is considering the use of a new transportation mode to reduce costs and improve delivery times. Which of the following is the most appropriate transportation mode for the company?
A. Rail
B. Truck
C. Air
D. Sea

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