POST UTME CHRISTOPHER UNIVERSITY 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A firm uses a combination of insurance and risk management techniques to minimize losses. This is an example of which of the following risk management strategies?
A. Risk avoidance
B. Risk transfer
C. Risk retention
D. Risk reduction
Question 2
A company uses a combination of advertising and sales promotions to increase sales. This is an example of which of the following marketing strategies?
A. Segmentation
B. Targeting
C. Positioning
D. Pull strategy
Question 3
A firm is considering investing in a new project. The project has a net present value (NPV) of ₦100,000 and a payback period of 5 years. What is the correct interpretation of the NPV?
A. The project is expected to generate a positive NPV.
B. The project is expected to generate a negative NPV.
C. The project is expected to break even.
D. The project is expected to generate a zero NPV.
Question 4
A company's banking system uses a cashless payment method for its employees. If the company has 500 employees, and each employee's average monthly salary is ₦150,000, what is the total amount of money the company saves per month by using the cashless payment method?
A. ₦75,000,000
B. ₦75,500,000
C. ₦76,000,000
D. ₦76,500,000
Question 5
A firm's warehousing system uses a first-in-first-out (FIFO) inventory management system. If the firm has 100 units of goods in stock, and 20 units are sold, what is the new stock level?
A. 80 units
B. 90 units
C. 100 units
D. 110 units
Question 6
A firm's foreign trade involves the importation of raw materials from a foreign country. What is the name of the document that is used to verify the quality and quantity of the imported goods?
A. Commercial Invoice
B. Bill of Lading
C. Certificate of Origin
D. Certificate of Quality
Question 7
A company's business unit is a sole trader. If the company's sole trader has a profit of ₦500,000, and the company's tax rate is 20%, what is the company's tax liability?
A. ₦100,000
B. ₦120,000
C. ₦150,000
D. ₦200,000
Question 8
A company's insurance policy covers losses due to natural disasters. Which of the following types of insurance is most likely to be relevant?
A. Property Insurance
B. Liability Insurance
C. Business Interruption Insurance
D. Workers' Compensation Insurance
Question 9
A firm's foreign trade involves exporting goods worth ₦1,500,000 to a foreign country. If the exchange rate is 1 USD = ₦450, and the firm's bank charges a commission of 2% on the transaction, what is the total cost of the transaction in USD?
A. 3,333.33
B. 3,500.00
C. 3,666.67
D. 4,000.00
Question 10
A firm is considering two modes of transportation to ship its goods: by truck and by air. The cost of shipping by truck is given by ( C_T = 100 + 2Q ), where ( Q ) is the quantity shipped, and the cost of shipping by air is ( C_A = 500 + 5Q ). If the firm needs to ship 100 units of goods, which mode of transportation should it choose?
A. Truck
B. Air
C. Either mode is equally expensive
D. Neither mode is suitable
Question 11
A firm produces two goods, A and B, using two inputs, labor (L) and capital (K). The production function for good A is given by ( Q_A = 2L^{0.4}K^{0.6} ), and for good B is ( Q_B = 3L^{0.7}K^{0.3} ). If the firm has 100 units of labor and 80 units of capital, what is the opportunity cost of producing 60 units of good A?
A. 40 units of good B
B. 50 units of good B
C. 60 units of good B
D. 70 units of good B
Question 12
A company's home and foreign trade activities are subject to various regulations. Which of the following regulations is most likely to apply to the company's exports?
A. Export Control Act
B. Import and Export Duty Act
C. Foreign Exchange (Monitoring and Miscellaneous Provisions) Act
D. National Industrial Policy and Competitiveness Act
Question 13
A company's marketing strategy involves creating a sense of exclusivity among potential customers. This tactic is an example of which of the following?
A. Scarcity
B. Exclusivity
C. Limited-time offer
D. Free gift
Question 14
In a just-in-time (JIT) inventory system, what is the primary goal of the warehouse manager?
A. To minimize inventory costs
B. To maximize storage capacity
C. To ensure timely delivery of products
D. To reduce labor costs
Question 15
A consumer protection agency receives a complaint about a company's misleading advertising practices. Which of the following is a possible consequence of the company's actions?
A. Fines and penalties
B. Loss of business reputation
C. Product recalls
D. All of the above

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