POST UTME OAU 2019 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
A consumer purchases a product from a retailer, but the product is defective. The consumer returns the product to the retailer, who refuses to accept it. Which of the following is the consumer's best course of action?
A. To sue the retailer for breach of contract
B. To return the product to the manufacturer
C. To seek a refund from the retailer
D. To report the incident to the consumer protection agency
Question 2
A bank is considering the establishment of a new branch in a rural area. What is the primary consideration for the bank?
A. The bank's profitability.
B. The bank's risk exposure.
C. The bank's social responsibility.
D. The bank's market share.
Question 3
A company is considering launching a new product. The company has estimated that the product will have a market share of 20% within the first year. What is the most appropriate marketing strategy to use in this situation?
A. Product differentiation
B. Market segmentation
C. Positioning
D. Pricing
Question 4
A company is considering two different marketing strategies for a new product. Strategy A involves a high level of advertising and promotion, while Strategy B involves a low level of advertising and promotion. Which strategy is more likely to result in a higher sales revenue?
A. Strategy A
B. Strategy B
C. Both strategies are equally likely to result in a higher sales revenue
D. Neither strategy is likely to result in a higher sales revenue
Question 5
A life insurance policy has a premium of ₦10,000 per annum. The policy pays a benefit of ₦500,000 in the event of the policyholder's death. What is the probability of the policyholder dying within the next 10 years?
A. 0.05
B. 0.10
C. 0.15
D. 0.20
Question 6
A consumer purchases a product from a retailer, but the product is defective. The consumer returns the product to the retailer, who refuses to accept it. Which of the following is the consumer's best course of action?
A. To sue the retailer for breach of contract
B. To return the product to the manufacturer
C. To seek a refund from the retailer
D. To report the incident to the consumer protection agency
Question 7
A company's memorandum of association states that the company's business is to be carried on for the benefit of its members. Which of the following is a characteristic of this type of company?
A. The company is a public company
B. The company is a private company
C. The company is a limited liability partnership
D. The company is a sole trader
Question 8
A firm is considering two different investment options. Option A has a expected return of 15% per annum and a standard deviation of 10%. Option B has a expected return of 12% per annum and a standard deviation of 8%. Which option is riskier?
A. Option A
B. Option B
C. Both options are equally risky
D. Neither option is risky
Question 9
A company's memorandum of association states that the company's business is to be carried on for the benefit of its members. Which of the following is a characteristic of this type of company?
A. The company is a public company
B. The company is a private company
C. The company is a limited liability partnership
D. The company is a sole trader
Question 10
A company is considering the establishment of a sole trade business. What is the primary advantage of a sole trade business?
A. Sole trade businesses are easier to establish and manage.
B. Sole trade businesses are more profitable than companies.
C. Sole trade businesses are less risky than companies.
D. Sole trade businesses are more flexible than companies.
Question 11
A sole trader's business is registered under the name 'XYZ Limited'. Which of the following is a consequence of this registration?
A. The business is now a partnership
B. The business is now a private company
C. The business is now a public company
D. The business is now a limited liability partnership
Question 12
A bank is considering two different loan options for a customer. Option A has a fixed interest rate of 10% per annum and a repayment period of 5 years. Option B has a variable interest rate of 15% per annum and a repayment period of 3 years. Which option is more favorable to the customer?
A. Option A
B. Option B
C. Both options are equally favorable
D. Neither option is favorable
Question 13
A company is considering two different production methods for a new product. Method A requires an initial investment of ₦100,000 and produces 100 units of the product per month. Method B requires an initial investment of ₦50,000 and produces 50 units of the product per month. If the company wants to produce 500 units of the product per month, which method should it choose?
A. Method A
B. Method B
C. Both methods are equally viable
D. Neither method is viable
Question 14
A consumer purchases a product from a retailer, but the product is defective. The consumer returns the product to the retailer, who refuses to accept it. Which of the following is the consumer's best course of action?
A. To sue the retailer for breach of contract
B. To return the product to the manufacturer
C. To seek a refund from the retailer
D. To report the incident to the consumer protection agency
Question 15
A firm is considering two different investment options. Option A has a expected return of 15% per annum and a standard deviation of 10%. Option B has a expected return of 12% per annum and a standard deviation of 8%. Which option is more attractive?
A. Option A
B. Option B
C. Both options are equally attractive
D. Neither option is attractive

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