POST UTME NILE UNIVERSITY 2023 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
The mode of transportation that is most suitable for transporting perishable goods over long distances is by _______________________.
A. Road
B. Rail
C. Air
D. Sea
Question 2
A bank is considering a new loan product that offers a variable interest rate. The interest rate is expected to fluctuate based on market conditions. What type of risk is the bank taking on by offering this loan product?
A. Credit risk
B. Liquidity risk
C. Market risk
D. Operational risk
Question 3
A company's marketing mix involves the use of a product life cycle strategy. Which of the following is a characteristic of the growth stage?
A. Increasing market share.
B. Decreasing market share.
C. Stable market share.
D. Increasing competition.
Question 4
A firm's warehousing and stock control system involves the use of a just-in-time inventory system. What is the primary advantage of this system?
A. Reduced inventory costs.
B. Improved customer service.
C. Increased inventory turnover.
D. Reduced transportation costs.
Question 5
A firm's demand function is given by Q = 100 - 2P, where Q is the quantity demanded and P is the price. If the firm wants to maximize its revenue, what price should it charge?
A. 20
B. 30
C. 40
D. 50
Question 6
A logistics company has a warehouse with a capacity of 10,000 units. If the company receives a shipment of 5,000 units, what is the probability that the warehouse will be full?
A. 0.5
B. 0.6
C. 0.7
D. 0.8
Question 7
A company has a 10% chance of experiencing a loss of ₦100,000 and a 90% chance of experiencing no loss. What is the expected value of the company's loss?
A. ₦9,000
B. ₦10,000
C. ₦11,000
D. ₦12,000
Question 8
A firm's cost function is given by C = 100 + 2L + 3K, where C is the total cost, L is the labor input, and K is the capital input. If the firm uses 50 units of labor and 200 units of capital, calculate the total cost.
A. 1500
B. 2000
C. 2500
D. 3000
Question 9
A company's home and foreign trade involves the use of a free trade agreement. What is the primary advantage of this agreement?
A. Reduced tariffs.
B. Increased trade barriers.
C. Improved trade relations.
D. Increased competition.
Question 10
A firm's banking and financial institutions involve the use of a commercial bank's services. What is the primary advantage of using a commercial bank?
A. Convenience.
B. Security.
C. Flexibility.
D. Low costs.
Question 11
The concept of 'moral hazard' in insurance refers to the _______________________ of risk-taking behavior by individuals or businesses when they are protected by insurance.
A. Increase
B. Decrease
C. No change
D. Uncertainty
Question 12
A foreign trade agreement between two countries involves the exchange of _______________________ goods and services.
A. Similar
B. Complementary
C. Substitutable
D. Homogeneous
Question 13
The concept of 'Gross Domestic Product' (GDP) is a measure of a country's total output of goods and services. However, GDP has some limitations. Which of the following is NOT a limitation of GDP?
A. It does not account for income inequality
B. It does not account for the value of unpaid household work
C. It does not account for the value of illegal activities
D. It does not account for the value of foreign aid
Question 14
A company's marketing strategy involves a mix of advertising and personal selling. Which of the following is a characteristic of personal selling?
A. It is a one-to-many communication process.
B. It is a face-to-face communication process.
C. It is a mass communication process.
D. It is a written communication process.
Question 15
A bank's primary function is to act as a _______________________ between borrowers and lenders.
A. Agent
B. Broker
C. Dealer
D. Intermediary

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