O level Commerce Quiz 4049/1 specimen paper 1

#1. Which document states the objects of a company?

Memorandum of Association.

Articles of Association.

Company Prospectus

Certificate of Incorporation.

#2. The reward for enterprise is

Interest

Rent

Profit

Wages

#3. Which is an objective of the Small Enterprise Development Corporation (SEDCO)?

It encourages and assists in the formation of co-operatives

It is a non-profit making financial organisation.

It fights poverty in middle and low income nations.

It provides long-term infrastructural finance for construction of roads.

#4. In containerisation, the term “groupage” means

transporting a number of containers in one ship.

storing containers in one warehouse.

transporting consignments to different destinations.

using one container for a number of consignments.

#5. Which policy covers customers injured within the shop?

employers liability

public liability

fidelity guarantee

comprehensive

#6. Trade Measures Act deals with

quality of goods.

weight of goods.

prices of goods.

value of goods.

#7. Which is not true of Private Limited Companies and Public Limited Companies?

both sell shares at the stock exchange

both are financed by shareholders

both have a minimum of two shareholders

both have limited liability

#8. Which medium can a school use to advertise broilers?

poster

magazine

radio

television

#9. X insures his car valued at $20 000 against accidents for $12 000. Later the car is involved in an accident and the cost of repairs is $6 000. What amount will the insurance company pay as compensation?

$3 600

$20 000

$12 000

$6 000

#10. Which service enables people in different locations to speak face to face?

prestel

franking

confravision

Datel

#11. What is not considered when calculating the balance of trade?

value of goods imported

value of goods exported

entry fees paid by tourists

duty paid for imported goods

#12. Which telecommunication sends exact copies of diagram?

telex

facsimile

data post

radio paging

#13. In which stage of production is more value added to goods?

Subsistence production

Direct production

Primary production

Secondary production

#14. Which mode of communication is considered as formal?

Skype

Facebook

E-mail

#15. Which is not a characteristic of an entrepreneur?

self starter

self confidence

self minded

self discipline

#16. Which is not allowed in a bonded warehouse?

manufacturing goods

selling goods

exporting goods

branding goods

#17. Which is not mass marketing?

creation of generic brands and brand loyalty

tailoring a product to a particular type of customer

making products which have a universal appeal

everyone should be a customer of the product

#18. X insures his car valued at $20 000 against accidents for $12 000. Later the car is involved in an accident and the cost of repairs is $6 000.Which principle is applied to determine the compensation?

average clause

proximate cause

contribution

subrogation

#19. Which insurance principle states that the insured must not make a profit?

indemnity

average clause

insurable interest

utmost good faith

#20. Which policy falls under assurance?

pluvious policy

mortgage guarantee policy

endowment policy

consequential loss policy

#21. Which is a risky investment?

ordinary shares

cumulative preference shares

redeemable shares

participating preference shares

#22. Which organisation finances foreign trade?

Reserve Bank of Zimbabwe

Merchant Bank

Post Office Saving Bank

Building society

#23. Which is not a function of the Reserve Bank of Zimbabwe?

allocating foreign currency

clearing of cheques

accepting deposits from the public

replacing worn-out notes

#24. Which type of warehouse is located near customers?

wholesaler’s warehouse

retailer’s warehouse

bonded warehouse

manufacture’s warehouse

#25. Which product is suitable for a niche market?

clothes

blankets

bread

chocolates

#26. Which is a producer good?

car

umbrella

Television

Tractor

#27. The purpose of an indent is to state the

goods required.

goods available.

goods delivered.

goods insured.

#28. Which document is used to request payment from customers?

statement of account

order form

advice note

delivery note

#29. The term “limited” in an incorporated business means that

the number of shareholders is restricted.

the amount of goods sold is limited.

the number of shares is limited.

the liability of shareholders is limited.

#30. Which mode of communication can a trader use to encourage customers to respond to a survey?

free post

poste restante

business reply service

express mail service

#31. The service offered by building societies is

offering salaries to civil servants.

offering loans to build houses.

offering overdrafts as working capital.

offering loans to start a business.

#32. Which is the correct order in the production process?

commercial → primary → secondary

commercial → secondary → primary

primary → commercial → secondary

primary → secondary → commercial

#33. A wholesale formed by farmers is a

co-operative wholesale society.

general wholesaler.

specialist wholesaler.

cash and carry wholesaler.

#34. Why has the volume of cargo carried by air increased?

speedy movement of goods

no transhipment of cargo

low maintenance charges

economic use of fuel

#35. A document used when goods are transported by sea is a bill of

Entry

Exchange

Lading

Carriage

#36. Which action is taken to correct an unfavourable balance of payment?

remove import quotas

import more goods

reduce customs duty

reduce foreign currency allocation

#37. The diagram shows sources of finance available to “BEN AND TICH” Pvt Limited Company.Which of the above does not attract interest?

D

B

C

A

#38. Which is a function of the Consumer Council of Zimbabwe (CCZ)?

advise consumers of best buys

fix prices of goods

establish consumer shops

test goods for quality

#39. Freightliners are

tankers carrying large amounts of oil.

inter-continental cargo aeroplanes.

high speed, long distance cargo trains.

cargo ships operating on regular routes.

#40. Which is not an advantage of specialisation?

more goods are produced

quality of goods is improved

prices of goods are reduced

craftsmanship is developed

Eduzim

O level Commerce Quiz 4049/1 specimen paper 1

#1. Which document states the objects of a company?

#2. The reward for enterprise is

#3. Which is an objective of the Small Enterprise Development Corporation (SEDCO)?

#4. In containerisation, the term “groupage” means

#5. Which policy covers customers injured within the shop?

#6. Trade Measures Act deals with

#7. Which is not true of Private Limited Companies and Public Limited Companies?

#8. Which medium can a school use to advertise broilers?

#9. X insures his car valued at $20 000 against accidents for $12 000. Later the car is involved in an accident and the cost of repairs is $6 000. What amount will the insurance company pay as compensation?

#10. Which service enables people in different locations to speak face to face?

#11. What is not considered when calculating the balance of trade?

#12. Which telecommunication sends exact copies of diagram?

#13. In which stage of production is more value added to goods?

#14. Which mode of communication is considered as formal?

#15. Which is not a characteristic of an entrepreneur?

#16. Which is not allowed in a bonded warehouse?

#17. Which is not mass marketing?

#18. X insures his car valued at $20 000 against accidents for $12 000. Later the car is involved in an accident and the cost of repairs is $6 000.Which principle is applied to determine the compensation?

#19. Which insurance principle states that the insured must not make a profit?

#20. Which policy falls under assurance?

#21. Which is a risky investment?

#22. Which organisation finances foreign trade?

#23. Which is not a function of the Reserve Bank of Zimbabwe?

#24. Which type of warehouse is located near customers?

#25. Which product is suitable for a niche market?

#26. Which is a producer good?

#27. The purpose of an indent is to state the

#28. Which document is used to request payment from customers?

#29. The term “limited” in an incorporated business means that

#30. Which mode of communication can a trader use to encourage customers to respond to a survey?

#31. The service offered by building societies is

#32. Which is the correct order in the production process?

#33. A wholesale formed by farmers is a

#34. Why has the volume of cargo carried by air increased?

#35. A document used when goods are transported by sea is a bill of

#36. Which action is taken to correct an unfavourable balance of payment?

#37. The diagram shows sources of finance available to “BEN AND TICH” Pvt Limited Company.Which of the above does not attract interest?

#38. Which is a function of the Consumer Council of Zimbabwe (CCZ)?

#39. Freightliners are

#40. Which is not an advantage of specialisation?

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