POST UTME LAUTECH 2021 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A bank's primary function is to act as a
A. lender of last resort
B. intermediary between savers and borrowers
C. regulator of the financial system
D. all of the above
Question 2
A company's marketing strategy involves creating a new product line. What is the primary goal of this strategy?
A. To increase market share
B. To reduce production costs
C. To expand the company's product offerings
D. To improve customer satisfaction
Question 3
A life insurance policy is a type of
A. property insurance
B. liability insurance
C. life insurance
D. health insurance
Question 4
A company is considering investing in a new project that has a net present value (NPV) of ₦1,500,000 and a payback period of 5 years. If the company's cost of capital is 10%, what is the internal rate of return (IRR) of the project?
A. 15%
B. 16%
C. 17%
D. 18%
Question 5
A sole trader's business is considered a separate legal entity from the owner's personal assets. What is the primary reason for this separation?
A. Limited liability
B. Separation of business and personal finances
C. Tax benefits
D. Increased credibility
Question 6
A consumer purchases a product with a price of ₦2,000 and a 5% sales tax. If the consumer pays with a ₦5,000 note, what is the change the consumer will receive?
A. ₦1,500
B. ₦2,000
C. ₦2,500
D. ₦3,000
Question 7
A producer specializes in the production of a single product. What is the primary advantage of specialization?
A. Increased efficiency
B. Reduced costs
C. Improved quality
D. Increased flexibility
Question 8
A bank has a reserve requirement of 10% and a cash reserve of ₦100000. If it has a total deposit of ₦1000000, what is its maximum amount of loans it can give out?
A. ₦500000
B. ₦750000
C. ₦900000
D. ₦950000
Question 9
A company's marketing mix involves the use of advertising to promote a new product. Which of the following is a key consideration in the development of the advertising campaign?
A. Target audience
B. Advertising medium
C. Message content
D. Budget allocation
Question 10
A warehouse has 1,000 units of a product stored. If 200 units are sold, and the remaining units are packed into boxes of 20 units each, how many boxes can be filled?
A. 20
B. 30
C. 40
D. 50
Question 11
A company's articles of association may provide for the appointment of a managing director. What is the primary responsibility of the managing director?
A. To manage the company's day-to-day operations
B. To make strategic decisions on behalf of the company
C. To oversee the company's financial management
D. To represent the company in legal matters
Question 12
A company's marketing strategy involves a 10% discount on all products for the first 100 customers. If the original price of a product is ₦500, what is the total amount spent by the first 100 customers?
A. ₦45,000
B. ₦50,000
C. ₦55,000
D. ₦60,000
Question 13
A company has a profit of ₦1250 per unit sold. If it sells 250 units in a day, what is its total profit?
A. ₦312500
B. ₦3125000
C. ₦31250000
D. ₦312500000
Question 14
A marketing manager is considering two different advertising campaigns for a new product. Campaign A has a budget of ₦1,000,000 and is expected to reach 100,000 people, while Campaign B has a budget of ₦500,000 and is expected to reach 50,000 people. If the cost per person for Campaign A is ₦10 and the cost per person for Campaign B is ₦10, what is the total cost of Campaign A?
A. ₦1,000,000
B. ₦1,500,000
C. ₦2,000,000
D. ₦2,500,000
Question 15
Determine the value of x in the equation ( log_{10} (x^2) = 4 ).
A. 10
B. 100
C. 1000
D. 10000

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