POST UTME UNIPORT 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A consumer protection agency has received complaints about a company's false advertising practices. Which of the following is a possible remedy that the agency could impose?
A. A fine of ₦100,000
B. A warning letter to the company
C. A court order to stop the false advertising
D. A refund of all money paid by consumers
Question 2
A company's marketing strategy involves a 20% discount on all products for the first 100 customers. If the original price of each product is ₦500, what is the total revenue from the first 100 customers?
A. ₦45,000
B. ₦50,000
C. ₦55,000
D. ₦60,000
Question 3
A bank offers a 5-year fixed deposit with an interest rate of 10% per annum. If the principal amount is ₦100,000, what is the future value of the investment?
A. ₦161,051
B. ₦162,051
C. ₦163,051
D. ₦164,051
Question 4
A company's sole trader has a warehouse with a capacity of 1000 units. The company has 800 units in stock. If the company receives an order for 500 units, what is the probability that the warehouse will be empty after fulfilling the order?
A. 0.2
B. 0.4
C. 0.6
D. 0.8
Question 5
A company's transport system involves the use of trucks, trains, and airplanes. Which of the following is a characteristic of a company's transport system?
A. High fixed costs
B. Low variable costs
C. High operating costs
D. Low maintenance costs
Question 6
A company's sole trader has a warehouse with a capacity of 1000 units. The company has 800 units in stock. If the company receives an order for 500 units, what is the probability that the warehouse will be empty after fulfilling the order?
A. 0.2
B. 0.4
C. 0.6
D. 0.8
Question 7
The following diagram shows a demand curve for a product. If the price elasticity of demand is 0.5, what is the percentage change in quantity demanded if the price increases by 10%?
A. 5%
B. 10%
C. 15%
D. 20%
Question 8
A sole trader's business is not registered under any law. Which of the following is a consequence of this?
A. The sole trader is not liable for any business debts.
B. The sole trader's business is not subject to any tax laws.
C. The sole trader's business is not required to keep any records.
D. The sole trader's business is not protected by any consumer laws.
Question 9
A company's foreign trade involves the importation of raw materials and the exportation of finished goods. Which of the following is a benefit of foreign trade?
A. Increased competition
B. Reduced market share
C. Improved economic growth
D. Increased unemployment
Question 10
A company's production process involves the use of a machine that requires regular maintenance to ensure optimal performance. What is the primary benefit of regular maintenance?
A. Increased production capacity
B. Improved product quality
C. Reduced downtime and increased efficiency
D. Lower maintenance costs
Question 11
A firm is considering exporting its product to a foreign market. The firm's product is a type of commodity that is in high demand in the foreign market. However, the firm is concerned about the risks associated with exporting, including exchange rate fluctuations and political instability. What type of insurance should the firm consider to mitigate these risks?
A. Export credit insurance
B. Political risk insurance
C. Currency exchange insurance
D. All of the above
Question 12
A bank is considering offering a new type of loan to its customers. Which of the following is a key factor that the bank should consider when deciding whether to offer the loan?
A. The interest rate that the bank will charge
B. The creditworthiness of the potential borrowers
C. The potential return on investment for the bank
D. The competition from other financial institutions
Question 13
A company has a risk management policy that includes a deductible of ₦50,000. If the company experiences a loss of ₦200,000, how much of the loss will be covered by the insurance policy?
A. ₦150,000
B. ₦175,000
C. ₦200,000
D. ₦225,000
Question 14
A firm is considering two marketing strategies: Strategy A and Strategy B. The expected profit from Strategy A is ₦100,000, while the expected profit from Strategy B is ₦120,000. If the probability of success for Strategy A is 0.6, what is the expected profit from Strategy A?
A. ₦60,000
B. ₦80,000
C. ₦100,000
D. ₦120,000
Question 15
A company's financial statements are audited annually by an independent auditor. Which of the following is a primary benefit of this process?
A. Enhanced credibility of the company's financial statements
B. Improved internal control over financial reporting
C. Increased risk of financial misstatement
D. Reduced need for external financing

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