Commerce Jamb Question and Answer (Free PDF Download)
Practice Commerce Jamb Question and Answer to prepare for the 2025 Commerce JAMB exams ahead. The download is free and in PDF format.
Working through these past questions and answers is a great way to boost your confidence and increase your chances of success.
The Joint Admissions and Matriculation Board (JAMB) exam consists of 180 questions, with 40 questions dedicated to the Commerce. It’s important to study past questions for guidance to pass the exam.
Commerce JAMB Past Question
We have created 20 questions for you to practice. These questions have been selected from previous use of commerce jamb questions from year 1994 – 2004.
You can proceed directly to download the JAMB past questions and answers below for free.
1) Which of the following is a type of business organization?
A. Partnership
B. Sole proprietorship
C. Corporation
D. Cooperative.
ANS: D
2) The process of buying and selling goods and services is known as …
A. Trade
B. Commerce
C. Exchange
D. Barter.
ANS: A
3) Which of the following is a function of money?
A. Medium of exchange
B. Store of value
C. Unit of account
D. Measure of wealth.
ANS: A
4) The document issued by a seller to a buyer showing details of goods sold is called …
A. Bill
B. Receipt
C. Invoice
D. Statement.
ANS: C
5) Which of the following is a source of capital for a business?
A. Investment
B. Loan
C. Savings
D. Donation.
ANS: B
6) The process of promoting and selling products or services is known as …
A. Marketing
B. Advertising
C. Salesmanship
D. Publicity.
ANS: A
7) Which of the following is a type of insurance?
A. Life insurance
B. Health insurance
C. Car insurance
D. Property insurance.
ANS: A
8) The person who buys goods in large quantities from producers and sells to retailers is called …
A. Retailer
B. Distributor
C. Middleman
D. Wholesaler
ANS: D
9) The total value of goods and services produced in a country in a year is called …
A. GNP
B. GDP
C. NNP
D. NDP.
ANS: B
10) Which of the following is a feature of a sole proprietorship?
A. Limited liability
B. Single ownership
C. Shared profits
D. Multiple owners.
ANS: B
11) The act of transferring goods from one country to another is called …
A. Import
B. Export
C. Trade
D. Barter.
ANS: A
12) Which of the following is a type of bank account?
A. Loan account
B. Current account
C. Fixed deposit account
D. Savings account
ANS: D
13) The person who starts a business and takes on financial risks is called …
A. Manager
B. Entrepreneur
C. Investor
D. Shareholder.
ANS: B
14) Which of the following is a characteristic of money?
A. Durability
B. Portability
C. Divisibility
D. All of the above.
ANS: D
15) The process of recording financial transactions is called …
A. Bookkeeping
B. Accounting
C. Auditing
D. Budgeting.
ANS: A
16) Which of the following is a type of tax?
A. Income tax
B. Sales tax
C. Property tax
D. All of the above.
ANS: D
17) The document that shows the financial position of a business is called …
A. Balance sheet
B. Income statement
C. Cash flow statement
D. Trial balance.
ANS: A
18) Which of the following is a function of the Central Bank?
A. Issuing currency
B. Controlling inflation
C. Regulating banks
D. All of the above.
ANS: D
19) The process of converting raw materials into finished products is called …
A. Production
B. Manufacturing
C. Processing
D. Assembly.
ANS: B
20) Which of the following is a type of market?
A. Monopoly
B. Oligopoly
C. Perfect competition
D. All of the above.
ANS: D
21) The person who buys goods for personal use is called …
A. Consumer
B. Customer
C. Buyer
D. Purchaser.
ANS: A
22) Which of the following is a type of business risk?
A. Financial risk
B. Operational risk
C. Market risk
D. All of the above.
ANS: D
23) The process of dividing the market into distinct groups of consumers is called …
A. Market segmentation
B. Market targeting
C. Market positioning
D. Market analysis.
ANS: A
24) Which of the following is a type of business plan?
A. Startup plan
B. Operational plan
C. Strategic plan
D. All of the above.
ANS: D
25) The person who represents a company in legal matters is called …
A. Lawyer
B. Attorney
C. Legal advisor
D. All of the above.
ANS: D
26) Which of the following is a type of business communication?
A. Verbal communication
B. Written communication
C. Non-verbal communication
D. All of the above.
ANS: D
27) The process of evaluating the performance of a business is called …
A. Performance appraisal
B. Performance review
C. Performance evaluation
D. All of the above.
ANS: D
28) Which of the following is a type of business ethics?
A. Honesty
B. Integrity
C. Fairness
D. All of the above.
ANS: D
29) The person who manages the day-to-day operations of a business is called …
A. Manager
B. Supervisor
C. Director
D. CEO.
ANS: A
30) Which of the following is a type of business strategy?
A. Cost leadership
B. Differentiation
C. Focus
D. All of the above.
ANS: D
Benefits of Practicing
Here’s is key benefits of practicing with past questions before the exam.
- Understand the Exam Format
Reviewing past questions reveals the exam’s structure. You’ll become familiar with the types of comprehension passages, grammatical rules, and vocabulary that are tested.
- Speed Improvement
Regular practice will help you manage your time more effectively during the exam. You will become adept at solving questions quickly and accurately.
- Boost Your Confidence
By answering real exam questions from previous years, you can reduce anxiety. This preparation will make you feel more ready and confident on exam day.
- Identify Key Topics
Many topics in JAMB are repeated across different years. Practicing past questions will help you concentrate on the important subjects.
Jamb Commerce Past Questions and Answers pdf download
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Wishing you good luck!
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