UTME 2018 Commerce | Objective

Are you preparing for UTME exams? Reviewing past questions is one of the most effective ways to guarantee a high score. This practice hub features authentic 2018 Commerce (Objective) questions designed to simulate the real exam environment.

Practice these randomly selected questions to test your readiness.

Question 1
Which of the following regulates and controls the activities in the Nigeria Stock Exchange?
Correct A. SEC
B. BPE
C. CBN
D. NDIC

Correct Answer: A

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Question 2
The payment made by a speculator to the buyer when he is unable to deliver stocks on the agreed date is
Correct A. backwardation
B. Franco
C. arbitrage
D. contango

Correct Answer: A

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Question 3
Part payments made on allotted shares by subscribers is usually the
A. issued capital
B. subscribed capital
Correct C. called-up capital
D. authorized capital

Correct Answer: C

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Question 4
A loan to a customer with a cheque account at a bank in which the account is allowed to go into debt is
Correct A. over draft
B. commission
C. interest
D. advance

Correct Answer: A

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Question 5
Money is generally acceptable for transaction due to
A. the rule of the law
B. its acceptability in the global market
Correct C. the legal backing
D. the Central Bank Governor's signature

Correct Answer: C

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Question 6
Trade fairs in Nigeria are organized by
A. Ministry of commerce and industry
Correct B. chambers of commerce
C. The Federal Government
D. Manufacturer's Association of Nigeria

Correct Answer: B

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Question 7
Goods and services are made available to consumers through
A. the advertising agency
B. sales promotion
Correct C. the channel of distribution
D. the middle men

Correct Answer: C

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Question 8
An organization which focuses on consumer satisfaction is practising
Correct A. marketing concept
B. selling concept
C. consumerism
D. market segmentation

Correct Answer: A

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Question 9
One of the major disadvantages of pipeline transportation is its
A. high maintenance cost
Correct B. high cost of construction
C. Limitation in scope
D. vulnerability to climatic changes

Correct Answer: B

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Question 10
The business organization that can effectively combine management with control is
A. co-operation society
B. public limited liability company
Correct C. private limited liability company
D. sole proprietorship

Correct Answer: C

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Question 11
An arrangement by independent firms to share the market of their products on quota basis is referred to as
Correct A. cartel
B. syndicate
C. trust
D. integration

Correct Answer: A

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Question 12
The warehouse that is owned and controlled by the government is
Correct A. state warehouse
B. wholesalers' warehouse
C. public warehouse
D. manufacturers' warehouse

Correct Answer: A

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Question 13
In a public limited liability company, planning is carried out by
A. employees
Correct B. the chairman of the board
C. shareholders
D. manufacturers' warehouse

Correct Answer: B

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Question 14
One of the major problems of a sole proprietor is sourcing for
Correct A. funds
B. labour
C. raw materials
D. machineries

Correct Answer: A

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Question 15
Balance of payments is made up of
A. currency and capital items
B. visible and current items
Correct C. visible and invisible items
D. visible and capital items

Correct Answer: C

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Question 16
The four P's of marketing are
A. Price, product, property and place
B. Product, place, process and promotion
C. Price, production, place and property
Correct D. Price, product, place and promotion

Correct Answer: D

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Question 17
The internet is a system of telecommunications used for
A. sending electronic messages
Correct B. communicating long-distance messages
C. sending and receiving text messages
D. communicating messages through telegrams

Correct Answer: B

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Question 18
The major determinant of fire insurance premium is the
A. usefulness of the property to the owner
Correct B. type and structure of the property to be insured
C. extent of fixed damage anticipated
D. owner of the property to be insured

Correct Answer: B

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Question 19
Capital of a business is technically
A. a liability
B. an expense
C. a project
Correct D. an asset

Correct Answer: D

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Question 20
The factor which critically determines the choice of occupation is
A. skill
B. training
Correct C. aptitude
D. interest

Correct Answer: C

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Question 21
From which of the following sources can companies increase their capital?
Correct A. Sales of shares
B. Admission of new partners
C. Discharge of mortgage
D. Grants from relations

Correct Answer: A

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Question 22
In Nigeria, the ministry in charge of registering trade associations is that of
A. culture and tourism
B. finance
C. industries
Correct D. commerce

Correct Answer: D

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Question 23
The shares of a company listed on the stock exchange for sale are referred to as
Correct A. quoted shares
B. issued shares
C. deferred shares
D. registered shares

Correct Answer: A

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Question 24
Charges for loans paid by commercial banks to the central bank of Nigeria are called
A. Credit charges
Correct B. bank rates
C. bank charges
D. interest rates

Correct Answer: B

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Question 25
The act of a person employing another to enter into contract on his behalf is known as
Correct A. agency
B. bilateral agreement
C. business
D. sale of goods

Correct Answer: A

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