UTME 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
Which of the following is not a veritable source of funds to a public limited liability company?
A. advances and loans from bank
B. government financial grants
C. funds from the sale of shares
D. internally generated funds
Question 2
The activity which entails buying of goods in bulk and selling in small quantities to retailers is
A. wholesaling
B. assembling
C. retailing
D. merchandising
Question 3
Which of the following countries are members of the Lake Chad Basin Commission?
A. Benin and Nigeria
B. Nigeria and Mali
C. Niger and Cameroun
D. Chad and Benin
Question 4
Which of the following attracts only interest but leaves the capital unpaid?
A. a redeemable bond
B. a long-term loan
C. a development bond
D. an irredeemable bond
Question 5
The macro-environmental forces and trends which are a constraint on business operations are referred to as
A. external factors
B. internal factors
C. economic factors
D. technological factors
Question 6
What insurance principle has Mr. P violated if he decides to overstate the actual value of his property?
A. Uberrimae fidei
B. Subrogation
C. Indemnity
D. Insurable interest
Question 7
A transporter who had to sell perishable goods without the prior authority of the owner becomes an agent by
A. estoppel
B. conduct
C. necessity
D. ratification
Question 8
The principle which requires the insurance company to disclose to the proposer all material facts of the risk to be covered is
A. contribution
B. subrogation
C. proximate cause
D. uberrimae fidei
Question 9
Pooling of risk in insurance means that
A. two people can pool their risks to be insured
B. compensation are paid out of a common fund
C. insurance companies should encourage taking risks
D. two insurance companies can buy two policies
Question 10
In which of the following will the number of words used determine the cost of message sent?
A. E-mail
B. Telex
C. Telegram
D. Telephone
Question 11
Poor sewage disposal, oil spill and indiscriminate refuse dumping all lead to
A. land and water pollution
B. air and water pollution
C. land pollution
D. water pollution
Question 12
A major function of a Chamber of Commerce is
A. promoting both home and foreign trade
B. increasing productivity
C. maximizing profit
D. promoting trade in a particular line
Question 13
An announcement of a person's willingness to enter into a contract is referred to as
A. a consideration
B. an acceptance
C. a proxy
D. an offer
Question 14
If Mr. N. takes a fire insurance policy with average clause, his compensation will be
A. ₦70,000
B. ₦75,000
C. ₦85,000
D. ₦87,500
Question 15
A bond which attracts only interest but leaves the capital unpaid is referred to as
A. a redeemable bond
B. an irredeemable bond
C. a long-term loan
D. a development bond

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