POST UTME UNILAG 2024 Commerce | Objective
Practice these randomly selected questions to test your readiness.
Question 1
A company's insurance policy covers losses due to natural disasters. The policy has a deductible of ₦500,000 and a maximum payout of ₦5,000,000. If the company suffers a loss of ₦2,000,000 due to a natural disaster, what is the amount that the insurance company will pay?
Question 2
A company uses a just-in-time (JIT) inventory system to manage its inventory levels. Which of the following is a key benefit of JIT?
Question 3
A company is considering two different production processes: a traditional process and a modern process. The traditional process is less expensive, but it also has a higher level of waste. Which process is more likely to result in a higher profit margin?
Question 4
In a competitive market, a firm's demand curve is downward sloping. What is the likely effect of an increase in the firm's price on its revenue?
Question 5
A firm is considering a new product launch. The product has a high level of demand, but it also has a high level of competition. What is the likely effect of the firm's marketing strategy on the product's success?
Question 6
A firm is considering two different production processes for its product. Process A involves a higher upfront cost of ₦20 million but is expected to produce 1000 units per day. Process B involves a lower upfront cost of ₦10 million but is expected to produce 500 units per day. Which process has a higher total output over the next 5 years if the production rate is constant?
Question 7
A sole trader's business is exposed to various risks, including market risk, credit risk, and operational risk. Which of the following is a way to manage operational risk?
Question 8
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is a key benefit of using public relations in a marketing strategy?
Question 9
A company's sole trader has a warehouse with a capacity of 1000 units. The company's inventory management system uses a last-in-first-out (LIFO) method. If the company receives a new shipment of 500 units, what is the probability that the oldest unit in the warehouse will be sold before the new shipment is sold?
Question 10
A bank's return on equity (ROE) is calculated as net income divided by total equity. If a bank has a net income of ₦100,000 and total equity of ₦500,000, what is its ROE?
Question 11
A firm's production function is given by Q = 3L^0.7K^0.3, where Q is the quantity produced, L is labor, and K is capital. If the prices of labor and capital are 15 and 30 respectively, and the firm produces 9 units of the product, what is the total cost of production?
Question 12
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is a key tool used in public relations?
Question 13
A company is considering two different marketing strategies for its new product. Strategy A involves a high upfront cost of ₦10 million but is expected to generate ₦50 million in revenue over the next 5 years. Strategy B involves a lower upfront cost of ₦5 million but is expected to generate ₦30 million in revenue over the next 5 years. Which strategy has a higher net present value (NPV) if the discount rate is 10%?
Question 14
A company's marketing strategy involves a 30% discount on all products for the first week of a new product launch. If the original price of the product is ₦10,000, what is the discounted price?
Question 15
A warehouse has a storage capacity of 10,000 units. If 8,000 units are already stored, what is the remaining storage capacity?
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