POST UTME UNIBEN 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company has a policy of maintaining a 20% buffer stock. If the current stock level is 5,000 units, what is the reorder point?
A. 4,000 units
B. 5,000 units
C. 6,000 units
D. 7,000 units
Question 2
A company is sued for violating the Consumer Protection Act. The company's defense is that the consumer did not read the fine print on the contract. Which of the following is the most likely outcome?
A. The court will rule in favor of the company.
B. The court will rule in favor of the consumer.
C. The case will be dismissed due to lack of evidence.
D. The case will be referred to an arbitration panel.
Question 3
In a consumer protection law, what is the primary purpose of the 'cooling-off period'?
A. To allow consumers to change their minds and cancel their purchases
B. To provide a time frame for consumers to compare prices and make informed decisions
C. To give businesses time to process and deliver goods
D. To allow consumers to return goods that do not meet their expectations
Question 4
A company has a policy of insuring its assets against loss or damage. What type of insurance is this?
A. Liability insurance
B. Property insurance
C. Casualty insurance
D. Workers' compensation insurance
Question 5
A company is considering the use of a sole trader business structure. Which of the following advantages would be most relevant to the company?
A. Easy to set up
B. Low administrative costs
C. Flexibility in decision-making
D. Limited liability
Question 6
A company is considering the introduction of a new product line. Which of the following marketing strategies would be most effective in promoting the new product?
A. Social media advertising
B. Influencer marketing
C. Content marketing
D. Email marketing
Question 7
A firm's demand curve is given by Q = 100 - 2P. If the firm's marginal revenue is ₦50 per unit, and the price of the good is ₦20, what is the firm's marginal cost?
A. ₦30
B. ₦40
C. ₦50
D. ₦60
Question 8
A firm's supply chain management involves several activities. Which of the following is NOT a supply chain activity?
A. Procurement
B. Production
C. Distribution
D. Research and development
Question 9
A consumer has purchased a product that has a manufacturing defect. Which of the following laws would provide the consumer with the most protection?
A. The Sale of Goods Act
B. The Consumer Protection Act
C. The Competition Act
D. The Companies Act
Question 10
A company is considering launching a new product in a foreign market. The company's marketing team has identified a potential target market with a high demand for the product. However, the company is concerned about the potential risks associated with entering a new market. Which of the following is the most likely outcome?
A. The company will decide to enter the new market.
B. The company will decide not to enter the new market.
C. The company will conduct further market research before making a decision.
D. The company will partner with a local company to enter the new market.
Question 11
A consumer protection law requires that all goods sold in a market must have a price tag. If a merchant sells 100 goods at ₦100 each, how much revenue does the merchant generate?
A. ₦10,000
B. ₦20,000
C. ₦30,000
D. ₦40,000
Question 12
A firm's marketing strategy involves a mix of promotional tools. Which of the following is NOT a promotional tool?
A. Advertising
B. Public relations
C. Sales promotion
D. Research and development
Question 13
In a perfectly competitive market, what is the relationship between the marginal revenue product of labor and the marginal factor cost of labor?
A. MRP = MFC
B. MRP > MFC
C. MRP < MFC
D. MRP = -MFC
Question 14
In a sole trade business, what is the primary advantage of using a sole trader's personal assets to finance the business?
A. Limited liability
B. Tax benefits
C. Flexibility in decision-making
D. Access to personal assets
Question 15
A bank's balance sheet is given by Assets = ₦1,000,000, Liabilities = ₦500,000, and Equity = ₦500,000. If the bank increases its assets by 20% and its liabilities by 10%, what is the new equity?
A. ₦600,000
B. ₦650,000
C. ₦700,000
D. ₦750,000

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