POST UTME ESUT 2017 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A company is developing a new marketing campaign to promote its product. Which of the following marketing strategies would be most effective?
A. Segmentation, targeting, and positioning
B. Product placement
C. Social media marketing
D. Influencer marketing
Question 2
A warehouse has a storage capacity of 10,000 units. If the warehouse is currently 70% full, how many more units can be stored?
A. 3,500 units
B. 4,000 units
C. 4,500 units
D. 5,000 units
Question 3
In a just-in-time 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 4
A company has a sole trader business structure. What is the primary advantage of this structure?
A. Unlimited personal liability
B. Easy to set up and maintain
C. Ability to raise capital from investors
D. Separation of personal and business assets
Question 5
A company has a policy of paying its employees a fixed salary of ₦50,000 per month, plus a commission of 10% on sales. If the employee's total earnings for the month are ₦75,000, what is the amount of sales?
A. ₦750,000
B. ₦600,000
C. ₦500,000
D. ₦450,000
Question 6
A firm is considering purchasing a new insurance policy to cover its business risks. The policy costs ₦1 million per year and will pay out ₦5 million in the event of a loss. What is the expected value of the policy?
A. ₦4 million
B. ₦5 million
C. ₦6 million
D. ₦7 million
Question 7
A company is considering investing in a new project. The project has a high potential for return on investment, but it also has a high risk of failure. Which of the following is the best option for the company?
A. The company should invest in the project.
B. The company should not invest in the project.
C. The company should conduct a feasibility study to gather more information about the project.
D. The company should seek advice from a financial advisor.
Question 8
In a market with perfect competition, if the demand curve is downward-sloping and the supply curve is upward-sloping, what is the equilibrium price?
A. ( P = MC )
B. ( P = MR )
C. ( P = AR )
D. ( P = AC )
Question 9
A company is importing goods from a foreign country. What is the primary responsibility of the company in terms of customs clearance?
A. Ensuring that the goods are properly declared
B. Complying with customs regulations and procedures
C. Providing adequate documentation
D. Paying the correct duties and taxes
Question 10
A firm's risk management strategy involves diversification, hedging, and insurance. Which of the following is a benefit of diversification?
A. It reduces the overall risk of the firm
B. It increases the overall risk of the firm
C. It reduces the cost of capital
D. It increases the cost of capital
Question 11
A company has a sole proprietorship business. The company's assets are ₦500,000, and its liabilities are ₦200,000. What is the company's equity?
A. ₦300,000
B. ₦400,000
C. ₦500,000
D. ₦600,000
Question 12
A company's marketing strategy involves a mix of advertising, sales promotions, and public relations. Which of the following is NOT a characteristic of a successful marketing strategy?
A. It is customer-centric
B. It is cost-effective
C. It is environmentally friendly
D. It is focused on short-term gains
Question 13
A firm is considering purchasing insurance to mitigate risks associated with its operations. Which of the following types of insurance would be most relevant?
A. Liability insurance
B. Property insurance
C. Business interruption insurance
D. Professional liability insurance
Question 14
A company is considering launching a new product. The product has a high potential for success, but it also has a high risk of failure. Which of the following is the best marketing strategy for the company?
A. The company should launch the product in a small market to test its viability.
B. The company should launch the product in a large market to maximize its potential.
C. The company should conduct market research to gather more information about the product's potential.
D. The company should not launch the product at all.
Question 15
The Consumer Protection Act of 1999 in Nigeria provides for the protection of consumers from unfair trade practices. Which of the following is a provision of the Act?
A. Prohibition of false or misleading advertisements
B. Establishment of the Consumer Protection Council
C. Compensation for consumers who suffer losses due to unfair trade practices
D. Regulation of consumer credit

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