O level Commerce Quiz 4049/1 specimen paper 1

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

duty paid for imported goods

entry fees paid by tourists

value of goods imported

value of goods exported

#2. Which is a producer good?

car

Television

Tractor

umbrella

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

self confidence

self starter

self minded

self discipline

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

A

B

C

D

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

poste restante

business reply service

express mail service

free post

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

It encourages and assists in the formation of co-operatives

It fights poverty in middle and low income nations.

It is a non-profit making financial organisation.

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

#7. Freightliners are

high speed, long distance cargo trains.

inter-continental cargo aeroplanes.

cargo ships operating on regular routes.

tankers carrying large amounts of oil.

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

Entry

Exchange

Lading

Carriage

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

Certificate of Incorporation.

Memorandum of Association.

Articles of Association.

Company Prospectus

#10. The reward for enterprise is

Rent

Interest

Wages

Profit

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

clearing of cheques

replacing worn-out notes

allocating foreign currency

accepting deposits from the public

#12. The service offered by building societies is

offering overdrafts as working capital.

offering salaries to civil servants.

offering loans to start a business.

offering loans to build houses.

#13. Which is a risky investment?

ordinary shares

redeemable shares

cumulative preference shares

participating preference shares

#14. Which is not an advantage of specialisation?

craftsmanship is developed

quality of goods is improved

more goods are produced

prices of goods are reduced

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

the number of shares is limited.

the liability of shareholders is limited.

the amount of goods sold is limited.

the number of shareholders is restricted.

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

Subsistence production

Direct production

Secondary production

Primary production

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

radio

television

poster

magazine

#18. Which is not mass marketing?

tailoring a product to a particular type of customer

making products which have a universal appeal

creation of generic brands and brand loyalty

everyone should be a customer of the product

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

primary → secondary → commercial

commercial → primary → secondary

primary → commercial → secondary

commercial → secondary → primary

#20. 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?

subrogation

proximate cause

average clause

contribution

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

reduce customs duty

remove import quotas

reduce foreign currency allocation

import more goods

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

franking

prestel

Datel

confravision

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

blankets

clothes

chocolates

bread

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

comprehensive

fidelity guarantee

employers liability

public liability

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

statement of account

advice note

delivery note

order form

#26. A wholesale formed by farmers is a

cash and carry wholesaler.

general wholesaler.

specialist wholesaler.

co-operative wholesale society.

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

insurable interest

utmost good faith

indemnity

average clause

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

fix prices of goods

advise consumers of best buys

test goods for quality

establish consumer shops

#29. Which policy falls under assurance?

consequential loss policy

endowment policy

pluvious policy

mortgage guarantee policy

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

wholesaler’s warehouse

manufacture’s warehouse

bonded warehouse

retailer’s warehouse

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

low maintenance charges

no transhipment of cargo

economic use of fuel

speedy movement of goods

#32. Trade Measures Act deals with

prices of goods.

weight of goods.

value of goods.

quality of goods.

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

transporting a number of containers in one ship.

using one container for a number of consignments.

storing containers in one warehouse.

transporting consignments to different destinations.

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

manufacturing goods

selling goods

branding goods

exporting goods

#35. 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?

$6 000

$3 600

$20 000

$12 000

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

goods insured.

goods available.

goods delivered.

goods required.

#37. Which telecommunication sends exact copies of diagram?

radio paging

facsimile

data post

telex

#38. Which organisation finances foreign trade?

Merchant Bank

Reserve Bank of Zimbabwe

Post Office Saving Bank

Building society

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

Skype

E-mail

Facebook

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

both have a minimum of two shareholders

both sell shares at the stock exchange

both have limited liability

both are financed by shareholders

O level Commerce Quiz 4049/1 specimen paper 1

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

#2. Which is a producer good?

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

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

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

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

#7. Freightliners are

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

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

#10. The reward for enterprise is

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

#12. The service offered by building societies is

#13. Which is a risky investment?

#14. Which is not an advantage of specialisation?

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

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

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

#18. Which is not mass marketing?

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

#20. 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?

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

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

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

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

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

#26. A wholesale formed by farmers is a

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

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

#29. Which policy falls under assurance?

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

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

#32. Trade Measures Act deals with

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

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

#35. 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?

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

#37. Which telecommunication sends exact copies of diagram?

#38. Which organisation finances foreign trade?

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

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

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