POST UTME NILE UNIVERSITY 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A consumer's budget constraint is given by the equation 2x + 3y = 12. If the consumer's current income is 12 and the price of good x is 2, what is the consumer's current consumption of good y?
A. 2
B. 4
C. 6
D. 8
Question 2
A firm's financial management involves the planning and control of the firm's financial resources. Which of the following is a type of financial management?
A. Investment
B. Financing
C. Dividend policy
D. All of the above
Question 3
A consumer protection agency receives a complaint about a company's misleading advertising. The agency finds that the company has made false claims about the product's features and benefits. What type of consumer protection law is being violated?
A. Deceptive advertising
B. False labeling
C. Unfair competition
D. Bait and switch
Question 4
A consumer protection agency has been established to regulate the sale of goods and services in a particular market. Which of the following is a key responsibility of this agency?
A. To ensure that all goods and services meet certain quality standards
B. To protect consumers from unfair business practices
C. To regulate the prices of goods and services
D. To promote competition among businesses
Question 5
A firm's communication management involves the exchange of information between the firm and its stakeholders. Which of the following is a type of communication management?
A. Internal communication
B. External communication
C. Public relations
D. All of the above
Question 6
A life insurance policy has a premium of ₦10,000 per annum. The policy pays out ₦500,000 in the event of the policyholder's death. What is the probability that the policyholder will die within the next 10 years?
A. 0.05
B. 0.10
C. 0.15
D. 0.20
Question 7
A consumer protection agency is responsible for enforcing laws that protect consumers from unfair business practices. Which of the following is a type of unfair business practice?
A. False advertising
B. Price-fixing
C. Bait-and-switch
D. All of the above
Question 8
A firm's production function is given by Q = 2L^0.5 * K^0.5, where Q is output, L is labor, and K is capital. If the firm wants to increase output by 20% while keeping labor constant, what percentage increase in capital is required?
A. 10%
B. 15%
C. 20%
D. 25%
Question 9
A company's insurance policy covers losses due to natural disasters, such as hurricanes and floods. However, the policy excludes losses due to earthquakes. What type of risk is the company exposed to?
A. Uninsurable risk
B. Insurable risk
C. Non-insurable risk
D. Self-insured risk
Question 10
A company is considering the introduction of a new insurance policy. The policy will provide coverage for the company's employees in the event of an accident. Which of the following is a key benefit of this policy?
A. Reduced employee turnover
B. Improved employee morale
C. Enhanced employee safety
D. Increased employee productivity
Question 11
A company is considering the introduction of a new product line. The product has a high potential for growth, but it also carries a high level of risk. Which of the following risk management strategies would be most appropriate for this situation?
A. Diversification
B. Hedging
C. Speculation
D. Risk avoidance
Question 12
A company's foreign trade involves importing raw materials and exporting finished goods. What is the term for this type of trade?
A. Import substitution
B. Export promotion
C. Foreign trade
D. International trade
Question 13
A firm's logistics management involves the planning and execution of the movement and storage of goods. Which of the following is a type of logistics management?
A. Transportation
B. Warehousing
C. Inventory management
D. All of the above
Question 14
A firm's human resource management involves the management of employees within the firm. Which of the following is a type of human resource management?
A. Recruitment
B. Selection
C. Training and development
D. All of the above
Question 15
A firm's break-even point is the point at which its total revenue equals its total fixed costs. If a firm's total fixed costs are ₦100,000 and its selling price is ₦200, what is the break-even point in units sold?
A. 500 units
B. 750 units
C. 1000 units
D. 1250 units

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Help others prepare! Share this practice hub: