Practice Post UTME UNIPORT commerce 2022 Past Questions

Question 1

A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor, and H is capital. If the firm wants to increase output by 20% while keeping labor constant at 100 units, how much should it increase capital?

A. 200 units

B. 250 units

Correct C. 300 units

D. 350 units

Correct Answer: C

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Question 2

A company is considering two different advertising strategies: A and B. Strategy A costs ₦100,000 and is expected to generate ₦150,000 in revenue. Strategy B costs ₦200,000 and is expected to generate ₦250,000 in revenue. Which strategy should the company choose?

A. Strategy A

Correct B. Strategy B

C. Both strategies are equally profitable

D. Neither strategy is profitable

Correct Answer: B

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Question 3

A firm's inventory is given by the following table: | Date | Quantity | Value | | --- | --- | --- | | 1 | 100 | 1000 | | 2 | 120 | 1200 | | 3 | 150 | 1500 | | 4 | 180 | 1800 | | 5 | 200 | 2000 | If the firm wants to calculate the total value of inventory on date 3, what is the correct formula?

Correct A. V_3 = Q_3 \times \frac{V_1 + V_2 + V_3}{Q_1 + Q_2 + Q_3}

B. V_3 = Q_3 \times \frac{V_1 + V_2}{Q_1 + Q_2}

C. V_3 = Q_3 \times \frac{V_1}{Q_1}

D. V_3 = Q_3 \times \frac{V_2}{Q_2}

Correct Answer: A

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Question 4

A company has the following risk management strategy: 80% of its assets are invested in stocks, 15% are invested in bonds, and 5% are invested in real estate. If the company's assets are worth ₦10,000,000, what is the expected value of its portfolio?

A. ₦8,000,000

B. ₦9,000,000

Correct C. ₦10,000,000

D. ₦11,000,000

Correct Answer: C

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Question 5

A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor, and H is capital. If the firm wants to increase output by 20% while keeping labor constant at 100 units, how much should it increase capital?

A. 200 units

B. 250 units

Correct C. 300 units

D. 350 units

Correct Answer: C

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Question 6

A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is NOT a characteristic of a successful marketing strategy?

A. It is customer-centric

Correct B. It is focused on short-term gains

C. It is adaptable to changing market conditions

D. It is solely dependent on advertising

Correct Answer: B

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Question 7

A firm's supply chain involves the movement of goods from raw materials to end customers. Which of the following is a type of supply chain risk?

Correct A. Operational risk

B. Strategic risk

C. Financial risk

D. Reputational risk

Correct Answer: A

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Question 8

A company's financial statements include the balance sheet, income statement, and cash flow statement. Which of the following is a characteristic of a company's cash flow statement?

A. It shows the company's profitability

B. It shows the company's liquidity

C. It shows the company's solvency

Correct D. It shows the company's cash inflows and outflows

Correct Answer: D

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Question 9

A firm's marketing mix involves the 4 Ps: product, price, promotion, and place. Which of the following is a type of product strategy?

Correct A. Product differentiation

B. Product positioning

C. Product segmentation

D. Product branding

Correct Answer: A

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Question 10

A company's financial performance is measured by its return on investment (ROI). Which of the following is a factor that affects a company's ROI?

A. Interest rates

B. Inflation rates

C. Dividend yields

Correct D. All of the above

Correct Answer: D

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Question 11

A sole trader's business is registered under the _______________ Act, which provides for the registration of sole traders and their businesses.

Correct A. Companies and Allied Matters Act

B. Business Registration Act

C. Sole Trader Registration Act

D. Business Incorporation Act

Correct Answer: A

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Question 12

A company's articles of association may provide for the _______________ of the company's shares.

Correct A. transfer

B. sale

C. mortgage

D. pledge

Correct Answer: A

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Question 13

A consumer has the right to _______________ a product that is defective or does not conform to the sample or model shown to him.

Correct A. reject

B. return

C. exchange

D. repair

Correct Answer: A

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Question 14

A company's directors have a duty to _______________ the company's business and affairs with due care and diligence.

Correct A. manage

B. conduct

C. supervise

D. oversee

Correct Answer: A

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Question 15

A sole trader's business is not required to _______________ its accounts to the public.

Correct A. publish

B. file

C. submit

D. disclose

Correct Answer: A

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Question 16

A company is considering two different production methods for its new product. Method A involves a high initial investment but low ongoing costs, while Method B involves a low initial investment but high ongoing costs. If the company expects to produce 10,000 units per year for 5 years, and the selling price of each unit is ₦500, what is the total revenue generated by each method, assuming a 20% tax rate?

Correct A. ₦2,500,000

B. ₦2,000,000

C. ₦1,500,000

D. ₦1,000,000

Correct Answer: A

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Question 17

A firm is considering two different advertising strategies for its new product. Strategy A involves a high upfront cost of ₦1,000,000 but a low ongoing cost of ₦50,000 per year, while Strategy B involves a low upfront cost of ₦200,000 but a high ongoing cost of ₦100,000 per year. If the firm expects to sell 10,000 units per year for 5 years, and the selling price of each unit is ₦500, what is the total revenue generated by each strategy, assuming a 20% tax rate?

Correct A. ₦2,500,000

B. ₦2,000,000

C. ₦1,500,000

D. ₦1,000,000

Correct Answer: A

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Question 18

A company is considering two different transportation options for its new product. Option A involves a high upfront cost of ₦500,000 but a low ongoing cost of ₦20,000 per year, while Option B involves a low upfront cost of ₦100,000 but a high ongoing cost of ₦50,000 per year. If the company expects to transport 10,000 units per year for 5 years, and the cost of each unit is ₦100, what is the total cost of each option, assuming a 20% tax rate?

Correct A. ₦500,000

B. ₦200,000

C. ₦300,000

D. ₦400,000

Correct Answer: A

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Question 19

A firm is considering two different warehousing options for its new product. Option A involves a high upfront cost of ₦200,000 but a low ongoing cost of ₦10,000 per year, while Option B involves a low upfront cost of ₦50,000 but a high ongoing cost of ₦20,000 per year. If the firm expects to store 10,000 units per year for 5 years, and the cost of each unit is ₦50, what is the total cost of each option, assuming a 20% tax rate?

Correct A. ₦200,000

B. ₦50,000

C. ₦150,000

D. ₦100,000

Correct Answer: A

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Question 20

A company is considering two different consumer protection strategies for its new product. Strategy A involves a high upfront cost of ₦500,000 but a low ongoing cost of ₦20,000 per year, while Strategy B involves a low upfront cost of ₦100,000 but a high ongoing cost of ₦50,000 per year. If the company expects to sell 10,000 units per year for 5 years, and the selling price of each unit is ₦500, what is the total revenue generated by each strategy, assuming a 20% tax rate?

Correct A. ₦2,500,000

B. ₦2,000,000

C. ₦1,500,000

D. ₦1,000,000

Correct Answer: A

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Question 21

A firm is considering two different business law options for its new product. Option A involves a high upfront cost of ₦200,000 but a low ongoing cost of ₦10,000 per year, while Option B involves a low upfront cost of ₦50,000 but a high ongoing cost of ₦20,000 per year. If the firm expects to sell 10,000 units per year for 5 years, and the selling price of each unit is ₦500, what is the total revenue generated by each option, assuming a 20% tax rate?

Correct A. ₦2,000,000

B. ₦1,500,000

C. ₦1,000,000

D. ₦500,000

Correct Answer: A

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Question 22

A company is considering two different production methods for its new product. Method A involves a high initial investment but low ongoing costs, while Method B involves a low initial investment but high ongoing costs. If the company expects to produce 10,000 units per year for 5 years, and the selling price of each unit is ₦500, what is the total revenue generated by each method, assuming a 20% tax rate?

Correct A. ₦2,500,000

B. ₦2,000,000

C. ₦1,500,000

D. ₦1,000,000

Correct Answer: A

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Question 23

In a market structure where firms have complete control over price and output, what is the primary characteristic of the market?

A. Perfect Competition

Correct B. Monopoly

C. Oligopoly

D. Monopolistic Competition

Correct Answer: B

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Question 24

A company's marketing strategy involves creating a unique selling proposition (USP) to differentiate its product from competitors. What is the primary goal of this strategy?

A. To increase market share

B. To reduce production costs

Correct C. To create a unique selling proposition

D. To improve product quality

Correct Answer: C

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Question 25

A life insurance policy has a premium of ₦10,000 per annum and a benefit of ₦500,000. If the policyholder dies after 5 years, what is the total benefit paid to the beneficiary?

Correct A. ₦2,500,000

B. ₦3,000,000

C. ₦2,000,000

D. ₦1,500,000

Correct Answer: A

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