POST UTME SKYLINE UNIVERSITY 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
The process of transporting goods from one place to another involves
A. transportation costs
B. transportation modes
C. transportation infrastructure
D. all of the above
Question 2
A life insurance policy has a premium of ₦50,000 per year and a death benefit of ₦1 million. If the policyholder dies after 5 years, what is the total payout to the beneficiary?
A. ₦2.5 million
B. ₦1.25 million
C. ₦1.5 million
D. ₦2 million
Question 3
A company is considering the formation of a joint venture with a foreign partner. What are the potential benefits of a joint venture?
A. Access to new markets and customers
B. Sharing of risks and costs
C. Improved efficiency and productivity
D. All of the above
Question 4
A company's marketing strategy involves a 20% increase in advertising expenditure. If the initial advertising expenditure is ₦1,500,000, what is the new advertising expenditure?
A. ₦1,800,000
B. ₦1,600,000
C. ₦1,800,000
D. ₦1,600,000
Question 5
A firm's marketing mix includes the
A. 4 Ps
B. 5 Ps
C. 6 Ps
D. 7 Ps
Question 6
A company is considering the implementation of a new marketing strategy. Which of the following is a key advantage of a pull strategy?
A. It focuses on the customer's needs
B. It emphasizes the product's features
C. It involves creating a sense of urgency
D. It is more cost-effective
Question 7
A consumer in Nigeria has purchased a product that has a defect. What is the consumer's right under the Consumer Protection Act of 1999?
A. To return the product for a full refund
B. To exchange the product for a similar one
C. To claim damages for the defect
D. To report the seller to the authorities
Question 8
In a perfectly competitive market, the supply curve is upward-sloping because of the law of increasing marginal opportunity cost. What is the primary reason for this upward-sloping supply curve?
A. Increasing marginal opportunity cost due to diminishing marginal returns
B. Increasing marginal opportunity cost due to increasing marginal costs
C. Decreasing marginal opportunity cost due to increasing marginal revenue
D. Decreasing marginal opportunity cost due to decreasing marginal costs
Question 9
A company is considering two different production processes for a new product. Process A requires an initial investment of ₦1,000,000 and has a variable cost of ₦500 per unit. Process B requires an initial investment of ₦500,000 and has a variable cost of ₦750 per unit. If the company expects to sell 10,000 units of the product, which production process should it choose?
A. Process A
B. Process B
C. Either process is equally profitable
D. Neither process is profitable
Question 10
A consumer purchases a product with a warranty. What is the primary purpose of the warranty?
A. To provide a sense of security
B. To guarantee a certain level of quality
C. To protect the consumer from defects
D. To promote the product's features
Question 11
A company is considering two different production processes to manufacture a product. Process A requires an initial investment of ₦100,000 and has a variable cost of ₦50 per unit. Process B requires an initial investment of ₦150,000 and has a variable cost of ₦30 per unit. If the selling price of the product is ₦120 per unit, which process should the company choose?
A. Process A
B. Process B
C. Both processes are equally profitable
D. Neither process is profitable
Question 12
A company is considering the implementation of a new insurance policy. Which of the following is a key benefit of a comprehensive insurance policy?
A. It provides coverage for all types of risks
B. It offers a high level of customization
C. It is more cost-effective
D. It provides a sense of security
Question 13
A company in Nigeria is considering exporting its products to the European Union. What is the first step the company should take?
A. Conduct market research
B. Obtain necessary licenses and permits
C. Establish a distribution network
D. Negotiate with potential buyers
Question 14
A company's marketing strategy involves a mix of advertising, sales promotions, and public relations. Which of the following is a key benefit of using a mix of these strategies?
A. Increased brand awareness
B. Improved customer loyalty
C. Enhanced product differentiation
D. Reduced marketing costs
Question 15
A company is considering two different marketing strategies: a social media campaign or a print advertising campaign. The social media campaign will cost ₦500,000 and is expected to reach 100,000 people, while the print advertising campaign will cost ₦750,000 and is expected to reach 50,000 people. Which campaign is more cost-effective?
A. Social media campaign
B. Print advertising campaign
C. Both campaigns are equally cost-effective
D. Neither campaign is cost-effective

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: