Preparing for the Joint Admissions and Matriculation Board (JAMB) exam can be daunting, especially for subjects like Commerce that require thorough understanding of concepts and principles. This article provides verified JAMB Commerce questions and answers to help you prepare effectively for the 2024/2025 JAMB exams. Additionally, we’ll cover some frequently asked questions (FAQs) to guide you on how best to use these resources in your study routine.
Verified JAMB Commerce Questions and Answers for 2024/2025
Here’s a list of example Commerce questions similar to those you might find on the JAMB exam, along with the correct answers and brief explanations.
Question 1:
The primary aim of production is to:
- A) create utility
- B) produce goods
- C) make money
- D) distribute goods
Answer: A) create utility
Explanation: Production aims to create utility by transforming raw materials into finished goods and services that meet consumer needs.
Question 2:
In Commerce, the act of selling goods in small quantities directly to consumers is known as:
- A) wholesaling
- B) retailing
- C) producing
- D) importing
Answer: B) retailing
Explanation: Retailing involves selling goods in smaller quantities directly to end consumers, unlike wholesaling which deals in bulk quantities.
Question 3:
Which of the following is a form of communication within an organization?
- A) Vertical communication
- B) Capital market
- C) Sole proprietorship
- D) Laissez-faire
Answer: A) Vertical communication
Explanation: Vertical communication occurs in an organization when information flows upward or downward within the hierarchy.
Question 4:
A document that shows a written promise to pay a specific sum of money at a future date is called a:
- A) Bill of Lading
- B) Promissory Note
- C) Invoice
- D) Receipt
Answer: B) Promissory Note
Explanation: A promissory note is a financial document where one party promises to pay a specific amount to another at a predetermined future date.
Question 5:
Which of these is a major function of a commercial bank?
- A) Creation of wealth
- B) Granting of loans
- C) Policy formulation
- D) Exchange of goods
Answer: B) Granting of loans
Explanation: Commercial banks primarily focus on providing loans and credit facilities to individuals and businesses.
These questions represent the type of content covered in JAMB Commerce exams and are meant to serve as a study guide. To deepen your understanding, practice with more JAMB Commerce past questions, available on official educational resources like JAMB Official Site or other educational platforms.
FAQs on JAMB Commerce Exam Preparation
1. How can I effectively prepare for the JAMB Commerce exam?
Answer: Start by familiarizing yourself with the syllabus, reviewing past questions, and practicing regularly. Focus on areas where you feel less confident, and consider using online resources or enrolling in a preparatory class.
2. Are past questions useful for JAMB preparation?
Answer: Yes, past questions are one of the best tools for JAMB preparation. They help you understand the exam pattern, frequently asked topics, and the style of questions to expect.
3. Where can I find more Commerce practice questions for JAMB?
Answer: You can find additional practice questions on platforms like MySchool, Pass.ng, and the official JAMB site. These platforms provide a wide range of study materials and practice tests.
4. What topics should I focus on for JAMB Commerce?
Answer: Key topics include Types of Trade, Business Ownership, Functions of Commerce, Production, Distribution, Banking, Insurance, and Communication. Review the JAMB syllabus to ensure you cover all required areas.
5. How many questions are in the JAMB Commerce exam, and what is the time limit?
Answer: The JAMB Commerce exam typically contains 40 to 50 questions, and candidates have 2 hours to complete the entire JAMB CBT exam, covering all registered subjects.
Final Tips for JAMB Commerce Success
- Understand Core Concepts: Focus on understanding principles rather than memorizing answers.
- Practice with CBT Platforms: Use online Computer-Based Test (CBT) simulations to get comfortable with the JAMB exam format.
- Revise Regularly: Allocate time daily for Commerce revision to reinforce knowledge and retain information.
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You’ll be well-equipped to excel in the JAMB Commerce examination with dedicated preparation and the right resources.
