Neco Commerce 2001 Past Questions and Answers

Question 1:

• NECO 2001

What is NOT an advantage of combinations (monopolies)?

A. Bender opportunity to expand operations
B. Fall in the cost of selling
C. Pool of specialized managerial skills
D. Centralized management
E. Danger of over-capitalization

Question 2:

• NECO 2001

What is NOT a concern of the Food and Drug Department of the Federal Ministry of Health?

A. Co-operating with the appropriate agencies to bring about effective price control
B. Educating the consumers on drug abuse
C. Encouraging consumers to eat a more sensible and balanced diet and avoid fatty foods
D. Requiring drug manufacturers to provide printed prescription for certain drugs
E. Requiring drug manufacturers to test the safety and effectiveness of drugs before marketing

Question 3:

• NECO 2001

What is NOT a means of Central Bank’s controlling the credit policy of commercial banks?

A. Banker's bank
B. Bank rate
C. Cash /liquidity ratio
D. Funding operations
E. Open market operations

Question 4:

• NECO 2001

Dealing on the Stock Exchange may be either

A. ‘for cash or ‘for hire’
B. ‘for jobber’ or 'for broker’
C. 'for cash' or 'for account
D. ‘for cash’ or‘ for credit’
E. ‘for bull’ or ‘ for bear’

Question 5:

• NECO 2001

Which term means that for the price quoted, transporting the goods is ‘free’ up to the time it is placed on board a carrier?

A. Carriage paid (Cge. Pd.)
B. Cost on delivery (C.O.D.)
C. Ex-ship
D. Free on board (F.O.B.)
E. Free on rail (F.O.R.)