GCE Commerce 2023
Past Questions

An insurance company charges a premium rate of 2% on a consignment valued at ₦4,500,000. If the insured adds a 10% mark-up to cover additional expenses before computing the insurable value, what is th…

Which of the following is NOT a function of a warehouse in the distribution chain?

The practice by which a government imposes a tax on imported goods to make them more expensive than locally produced goods is known as

Eze buys a 90-day bill of exchange with a face value of ₦500,000 at a discount of 8% per annum. How much does Eze pay for the bill?

A cooperative society differs from a limited liability company mainly because a cooperative society

Which of the following best describes a central bank?

The minimum amount of money that commercial banks in Nigeria are required by the Central Bank of Nigeria to keep in reserve is known as

Which of the following instruments is NOT a negotiable instrument?

The document issued by an insurance company as temporary evidence of cover before a formal policy is issued is called a

An importer in Kano receives goods from a supplier in Germany. The document that lists all the goods in a consignment, showing their description, quantity, weight, and value, is called a

Which of the following is NOT a benefit of warehousing to a trader?

Cold storage warehouses are MOST suitable for storing which of the following categories of goods?

A stockbroker purchases 500 shares at ₦40 each on behalf of a client and charges a commission of 2%. What is the total amount payable by the client?

A speculator on the stock exchange sells 1,000 shares he does not own at ₦25 per share, expecting the price to fall. He later buys them back at ₦20 per share to fulfil his obligation. Ignoring transac…

A pro forma invoice is BEST described as a document that

An invoice shows the following: List price of goods = ₦120,000; Trade discount = 15%; VAT = 7.5%. What is the total amount payable by the buyer?

Which of the following best describes the practice of selling goods that are similar in appearance to well-known branded products but of inferior quality?

a) Explain the term 'Channels of Distribution' and describe the FOUR main channels through which goods may pass from the producer to the final consumer. (10 marks) b) Explain any FOUR hindrances to tr…

a) Define the term 'trade' as used in commerce. (2 marks) b) Distinguish between home trade and foreign trade. (4 marks) c) State and explain FOUR aids to trade and show how each facilitates the buyin…

a) Define insurance and explain the principle of indemnity as it applies to insurance contracts. (6 marks) b) State and explain FOUR types of insurance policies available to businesses. (8 marks) c) D…

a) What is a Stock Exchange? (3 marks) b) State FIVE functions of a Stock Exchange. (10 marks) c) Distinguish between a 'bull' and a 'bear' as used in the Stock Exchange. (2 marks)