POST UTME CHRISTOPHER UNIVERSITY 2018 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A bank has a reserve requirement of 10% of its deposits. If the bank has ₦1,000,000 in deposits, how much must it keep in reserve?
A. ₦100,000
B. ₦200,000
C. ₦300,000
D. ₦400,000
Question 2
A consumer protection agency receives a complaint about a product that is not as described on the packaging. The agency's first step would be to
A. Conduct a recall of the product
B. Investigate the manufacturer's claims
C. Provide a refund to the consumer
D. Issue a warning to the public
Question 3
A company is considering entering into a contract with a supplier. What is the primary consideration for the company?
A. The supplier's reputation and creditworthiness
B. The terms and conditions of the contract
C. The price and payment terms
D. The delivery and logistics
Question 4
A consumer purchases a product online and receives a damaged item. What is the consumer's right under the Consumer Protection Act?
A. To return the product and receive a full refund
B. To exchange the product for a new one
C. To claim compensation for damages
D. To file a complaint with the consumer protection agency
Question 5
In a consumer protection context, what is the primary purpose of the Consumer Protection Act?
A. To regulate business practices
B. To protect consumers from unfair trade practices
C. To promote fair competition
D. To regulate consumer credit
Question 6
A company has a turnover of ₦1,200,000 and a profit of ₦150,000. If the company's capital is ₦500,000, what is its return on investment (ROI)?
A. 15%
B. 20%
C. 25%
D. 30%
Question 7
A bank offers a loan with an interest rate of 12% per annum compounded annually. If the principal amount is ₦10,000, how much will be owed after 5 years?
A. ₦16,386.16
B. ₦16,386.19
C. ₦16,386.21
D. ₦16,386.23
Question 8
A company is considering launching a new product. Which of the following marketing strategies would be most effective in creating buzz around the product?
A. Social Media Marketing
B. Influencer Marketing
C. Content Marketing
D. Event Marketing
Question 9
A consumer has a budget of ₦1000 and faces the following price schedule: good A: ₦200, good B: ₦300. If the consumer's indifference curves are convex to the origin and the budget constraint is given by the equation 2x + 3y = 10, where x is the quantity of good A consumed and y is the quantity of good B consumed, what is the consumer's optimal consumption bundle?
A. (2, 2)
B. (3, 1)
C. (4, 0)
D. (0, 4)
Question 10
A firm's production function is given by the equation ( Q = 2L^2 + 5K ), where Q is the quantity produced, L is the number of labor hours, and K is the amount of capital invested. If the firm wants to produce 100 units of output, how many labor hours are required if K = 10?
A. 20 labor hours
B. 30 labor hours
C. 40 labor hours
D. 50 labor hours
Question 11
A firm is considering two different production technologies: a traditional technology that requires 10 units of labor and 5 units of capital to produce 100 units of output, and a modern technology that requires 8 units of labor and 3 units of capital to produce 120 units of output. If the firm has 20 units of labor and 10 units of capital available, which technology should it adopt to maximize its output?
A. Traditional technology
B. Modern technology
C. Both technologies are equally efficient
D. Neither technology is efficient
Question 12
A firm's demand function is given by Q = 100 - 2P. If the price is ₦20, how many units will be demanded?
A. 10
B. 20
C. 30
D. 40
Question 13
A company is considering launching a new product in a foreign market. What is the primary consideration for the company?
A. Market size and growth potential
B. Competitor analysis
C. Regulatory environment
D. Cultural and social factors
Question 14
A firm's cost function is given by the equation ( C = 2L + 5K ), where C is the total cost, L is the number of labor hours, and K is the amount of capital invested. If the firm wants to minimize its costs, how many labor hours should it hire if K = 10?
A. 10 labor hours
B. 20 labor hours
C. 30 labor hours
D. 40 labor hours
Question 15
A consumer is considering purchasing a product from a company that has a poor reputation for customer service. What should the consumer do?
A. Purchase the product and hope for the best
B. Research the company's customer service policies
C. Contact the company's customer service department
D. Avoid purchasing from the company altogether

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