POST UTME UNILORIN 2020 Commerce | Objective

Are you preparing for POST UTME UNILORIN exams? Reviewing past questions is one of the most effective ways to guarantee a high score. This practice hub features authentic 2020 Commerce (Objective) questions designed to simulate the real exam environment.

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Question 1
In a sole proprietorship business, the owner's personal assets are not protected from business liabilities. What is the primary reason for this?
A. The business is not registered as a separate entity.
B. The owner has not obtained necessary licenses and permits.
Correct C. The owner's personal assets are not separate from the business assets.
D. The business is not insured against liabilities.

Correct Answer: C

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Question 2
A company's marketing strategy involves creating a new product line to target a specific demographic. What type of market research is being conducted?
A. Conjoint analysis
B. Cluster analysis
Correct C. Segmentation analysis
D. Focus group research

Correct Answer: C

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Question 3
A business is considering outsourcing its logistics operations to a third-party provider. What is the primary benefit of outsourcing?
A. Increased control over logistics operations
Correct B. Reduced costs and improved efficiency
C. Improved customer service and satisfaction
D. Enhanced brand reputation and image

Correct Answer: B

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Question 4
A company is considering expanding its operations into a new market. What type of market analysis is being conducted?
A. SWOT analysis
B. PESTEL analysis
C. Porter's Five Forces analysis
Correct D. Market segmentation analysis

Correct Answer: D

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Question 5
A business is considering implementing a new pricing strategy to increase revenue. What type of pricing strategy is being considered?
A. Penetration pricing
B. Skimming pricing
C. Bundle pricing
Correct D. Value-based pricing

Correct Answer: D

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Question 6
A sole trader's business is considered a separate legal entity from its owner. However, the owner is personally liable for all the business's debts and obligations. What is the name of this type of liability?
A. Limited Liability
B. Unlimited Liability
C. Joint Liability
Correct D. Personal Liability

Correct Answer: D

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Question 7
A company's articles of association may provide for a different class of shares to have a different voting power. What is the name of this type of share?
A. Ordinary Share
B. Preference Share
C. Redeemable Share
Correct D. Voting Share

Correct Answer: D

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Question 8
A firm's production function is given by the equation Q = 2L^0.5K^0.5. If the firm's output is 16 units and the number of workers is 4, how many units of capital are required?
A. 2
Correct B. 4
C. 8
D. 16

Correct Answer: B

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Question 9
A firm's marketing mix is given by the 4 Ps: Product, Price, Place, and Promotion. What is the name of the P that refers to the firm's advertising efforts?
A. Product
B. Price
C. Place
Correct D. Promotion

Correct Answer: D

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Question 10
A firm's transport costs are given by the equation TC = 2Q + 100. If the firm's output is 10 units, what are the total transport costs?
A. 200
Correct B. 300
C. 400
D. 500

Correct Answer: B

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Question 11
A bank's cash reserve ratio is 20%. If the bank has a total deposit of ₦1,000,000, how much cash must it reserve?
Correct A. ₦200,000
B. ₦150,000
C. ₦250,000
D. ₦300,000

Correct Answer: A

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Question 12
A company's sole trader has a turnover of ₦500,000 and a gross profit of ₦150,000. What is the gross profit percentage?
Correct A. 30%
B. 25%
C. 20%
D. 15%

Correct Answer: A

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Question 13
A consumer protection agency has identified a product with the following characteristics: price = ₦500, quantity demanded = 100 units, and elasticity of demand = 0.5. What is the price elasticity of demand?
Correct A. 0.5
B. 1.5
C. 2.5
D. 3.5

Correct Answer: A

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Question 14
A company's financial statements show a net profit of ₦200,000, a turnover of ₦1,500,000, and a gross profit of ₦800,000. What is the net profit margin?
Correct A. 13.33%
B. 16.67%
C. 20%
D. 25%

Correct Answer: A

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Question 15
A bank's cash reserve ratio is 20%. If the bank has a total deposit of ₦1,000,000, how much cash must it reserve?
Correct A. ₦200,000
B. ₦150,000
C. ₦250,000
D. ₦300,000

Correct Answer: A

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Question 16
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
Correct D. ₦1,650,000

Correct Answer: D

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Question 17
A firm has a 20% markup on its products. If a product costs ₦1,200, what is the selling price?
A. ₦1,440
B. ₦1,440
C. ₦1,440
Correct D. ₦1,440

Correct Answer: D

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Question 18
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
Correct D. ₦1,650,000

Correct Answer: D

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Question 19
A firm has a 20% markup on its products. If a product costs ₦1,200, what is the selling price?
A. ₦1,440
B. ₦1,440
C. ₦1,440
Correct D. ₦1,440

Correct Answer: D

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Question 20
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
Correct D. ₦1,650,000

Correct Answer: D

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Question 21
A firm has a 20% markup on its products. If a product costs ₦1,200, what is the selling price?
A. ₦1,440
B. ₦1,440
C. ₦1,440
Correct D. ₦1,440

Correct Answer: D

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Question 22
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
Correct D. ₦1,650,000

Correct Answer: D

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Question 23
A firm has a 20% markup on its products. If a product costs ₦1,200, what is the selling price?
A. ₦1,440
B. ₦1,440
C. ₦1,440
Correct D. ₦1,440

Correct Answer: D

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Question 24
A company has a policy of paying its employees a 10% bonus on their annual salaries. If an employee's salary is ₦1,500,000, what is the total amount the employee will receive at the end of the year, including the bonus?
A. ₦1,650,000
B. ₦1,650,000
C. ₦1,650,000
Correct D. ₦1,650,000

Correct Answer: D

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Question 25
In a production function, the marginal product of labor (MPL) is given by the derivative of the production function with respect to labor. If the production function is MPL = 2L^2 + 3L + 1, find the value of L that maximizes MPL.
A. 1
Correct B. 2
C. 3
D. 4

Correct Answer: B

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