POST UTME UNILAG 2024 Commerce | Objective

Practice these randomly selected questions to test your readiness.

Question 1
Under the Consumer Protection Act, what is the primary responsibility of a consumer in a dispute with a trader?
A. To prove the trader's negligence
B. To provide evidence of the defective product
C. To demonstrate the trader's breach of contract
D. To show the trader's failure to provide a refund
Question 2
A company's marketing strategy involves a mix of advertising, sales promotion, and public relations. Which of the following is a key benefit of using public relations in a marketing strategy?
A. Increased brand awareness
B. Improved customer loyalty
C. Enhanced reputation
D. Increased sales revenue
Question 3
A company's sole trader has a warehouse with a capacity of 1000 units. The company's inventory management system uses a last-in-first-out (LIFO) method. If the company receives a new shipment of 500 units, what is the probability that the oldest unit in the warehouse will be sold before the new shipment is sold?
A. 0.25
B. 0.5
C. 0.75
D. 0.33
Question 4
A firm is considering two different production processes for its product. Process A involves a higher upfront cost of ₦20 million but is expected to produce 1000 units per day. Process B involves a lower upfront cost of ₦10 million but is expected to produce 500 units per day. Which process has a higher total output over the next 5 years if the production rate is constant?
A. Process A
B. Process B
C. Both processes have the same total output
D. Neither process has a higher total output
Question 5
A firm is considering a new product launch. The product has a high level of demand, but it also has a high level of competition. What is the likely effect of the firm's marketing strategy on the product's success?
A. The marketing strategy will increase the product's success
B. The marketing strategy will decrease the product's success
C. The marketing strategy will have no effect on the product's success
D. It depends on the market conditions
Question 6
A company's marketing strategy involves a 15% discount on all products for the first 50 customers. If the original price of the product is ₦600, what is the total revenue generated from the first 50 customers?
A. ₦27,000
B. ₦30,000
C. ₦33,000
D. ₦36,000
Question 7
A company's insurance policy covers losses due to natural disasters. The policy has a deductible of ₦500,000 and a maximum payout of ₦5,000,000. If the company suffers a loss of ₦2,000,000 due to a natural disaster, what is the amount that the insurance company will pay?
A. ₦1,500,000
B. ₦2,000,000
C. ₦3,500,000
D. ₦4,500,000
Question 8
A bank's return on equity (ROE) is calculated as net income divided by total equity. If a bank has a net income of ₦100,000 and total equity of ₦500,000, what is its ROE?
A. 0.20
B. 0.30
C. 0.40
D. 0.50
Question 9
A country's GDP is calculated as the sum of the value of all final goods and services produced within its borders. If the country's GDP is ₦100 billion and the value of all intermediate goods and services is ₦20 billion, what is the value of the country's net exports?
A. ₦80 billion
B. ₦60 billion
C. ₦40 billion
D. ₦20 billion
Question 10
A company is considering the introduction of a new product line. The product requires a significant investment in production facilities and marketing. However, the company's financial analysts have projected a high return on investment. Which of the following financial strategies would be most appropriate for this product?
A. Debt financing with a focus on reducing costs
B. Equity financing with a focus on increasing ownership
C. Hybrid financing with a focus on reducing risk
D. Leasing with a focus on reducing capital expenditures
Question 11
A firm is considering the introduction of a new product line. The product requires a significant investment in production facilities and marketing. However, the company's financial analysts have projected a high return on investment. Which of the following production strategies would be most appropriate for this product?
A. Mass production with a focus on efficiency
B. Flexible manufacturing with a focus on customization
C. Just-in-time production with a focus on reducing inventory
D. Outsourcing production to a contract manufacturer
Question 12
A company's financial statements include a balance sheet, income statement, and cash flow statement. Which of the following is a key component of the balance sheet?
A. Assets
B. Liabilities
C. Equity
D. Revenue
Question 13
A company's marketing strategy involves a 20% discount on all products for the first 100 customers. If the original price of the product is ₦500, what is the total revenue generated from the first 100 customers?
A. ₦40,000
B. ₦45,000
C. ₦50,000
D. ₦55,000
Question 14
A company is considering exporting its products to a foreign market. What type of risk is the company most likely to face?
A. Political risk
B. Economic risk
C. Cultural risk
D. Operational risk
Question 15
A firm is considering two different transportation modes for its product. Mode A involves a higher cost of ₦10 per unit but is expected to reduce transportation time by 50%. Mode B involves a lower cost of ₦5 per unit but is expected to increase transportation time by 25%. Which mode has a higher total cost if the firm produces 1000 units per day?
A. Mode A
B. Mode B
C. Both modes have the same total cost
D. Neither mode has a higher total cost

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