POST UTME UNIPORT 2025 Commerce | Objective

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Question 1
A company is considering exporting its products to a foreign market. Which of the following is a key consideration in this decision?
A. The company's brand reputation in the foreign market
B. The cost of transporting goods to the foreign market
C. The availability of skilled labor in the foreign market
D. The company's ability to adapt to local business practices
Question 2
A firm is considering two different insurance policies: a liability policy or a property policy. Which of the following is a key advantage of the liability policy?
A. Higher coverage limits
B. Lower premiums
C. Greater protection against lawsuits
D. Longer policy term
Question 3
A consumer purchases a product with a warranty period of 2 years. What is the primary purpose of the warranty?
A. To protect the consumer from defects
B. To provide customer support
C. To increase sales
D. To reduce costs
Question 4
A consumer is considering purchasing a product from a foreign company. The product is a high-end electronic device with advanced features. However, the consumer is concerned about the product's compatibility with Nigerian power standards. Which of the following documents would be most useful in verifying the product's compatibility?
A. Product manual
B. Warranty information
C. CE marking certificate
D. Nigerian Standards Institute (NSI) certification
Question 5
A company imports goods worth ₦1,500,000. If the exchange rate is 1 USD = ₦375, how much is the import duty?
A. ₦375,000
B. ₦500,000
C. ₦625,000
D. ₦750,000
Question 6
A company's sole trader is considering expanding its operations to a foreign market. Which of the following is a key consideration in this decision?
A. The company's brand reputation in the foreign market
B. The cost of transporting goods to the foreign market
C. The availability of skilled labor in the foreign market
D. The company's ability to adapt to local business practices
Question 7
A consumer purchases a product from a retailer, but the product is defective. What is the consumer's remedy?
A. The consumer can return the product for a full refund.
B. The consumer can exchange the product for a similar one.
C. The consumer can sue the retailer for damages.
D. The consumer can seek a replacement product.
Question 8
A sole trader's business is considered a separate legal entity from its owner. What is the primary reason for this separation?
A. Limited liability
B. Separate taxation
C. Separate accounting
D. Separate management
Question 9
A company's financial statements are prepared in accordance with the Generally Accepted Accounting Principles (GAAP). Which of the following is a characteristic of GAAP?
A. It is a set of rules that govern the preparation of financial statements.
B. It is a set of principles that guide the preparation of financial statements.
C. It is a set of standards that are mandatory for all companies.
D. It is a set of guidelines that are optional for companies.
Question 10
A company is considering the introduction of a new product line in the Nigerian market. The product is a high-end smartphone with advanced features. However, the company is concerned about the potential risks associated with the product's high price point. Which of the following strategies would be most effective in mitigating these risks?
A. Conducting market research to gauge consumer demand and willingness to pay
B. Offering discounts and promotions to attract price-sensitive customers
C. Focusing on the product's unique features and benefits to justify the high price
D. Partnering with influencers and celebrities to promote the product
Question 11
In a perfectly competitive market, the law of diminishing marginal utility states that as the quantity of a good consumed increases, the marginal utility derived from each additional unit decreases. However, the law of increasing costs states that as the quantity of a good produced increases, the average cost of production increases. Which of the following is a correct statement regarding the relationship between the law of diminishing marginal utility and the law of increasing costs?
A. The law of diminishing marginal utility is a consequence of the law of increasing costs.
B. The law of increasing costs is a consequence of the law of diminishing marginal utility.
C. The law of diminishing marginal utility and the law of increasing costs are unrelated.
D. The law of diminishing marginal utility and the law of increasing costs are mutually exclusive.
Question 12
A firm's production function is given by Q = 2L^(1/2)K^(1/2), where Q is output, L is labor, and K is capital. If the firm wants to increase output by 20% while keeping labor constant, how much should it increase capital?
A. 10%
B. 20%
C. 30%
D. 40%
Question 13
A firm's revenue function is given by R = 2Q^2, where R is revenue and Q is output. If the firm produces 10 units, what is the revenue?
A. ₦200
B. ₦400
C. ₦600
D. ₦800
Question 14
A company has a production function given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the number of labor hours, and K is the amount of capital invested. If the company wants to produce 100 units of output, and the cost of labor is ₦100 per hour, while the cost of capital is ₦200 per unit, what is the minimum cost of production?
A. ₦20,000
B. ₦30,000
C. ₦40,000
D. ₦50,000
Question 15
A company's warehouse is not properly secured, resulting in the theft of goods worth ₦1,000,000. What is the company's liability?
A. The company is liable for the full amount of ₦1,000,000.
B. The company is liable for half of the amount, ₦500,000.
C. The company is not liable for any amount.
D. The company is liable for the amount minus any insurance coverage.

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