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UTME CBT Practice Tests
UTME CBT Practice Tests – Commerce (FREE Access) – Click Here!
UTME CBT Practice Tests – Commerce (Registered Users) – Click Here!

The aim of the Unified Tertiary Matriculation Examination (UTME) syllabus in Commerce is to prepare the candidates for the Board’s examination. It is designed to test their achievement of the course objectives, which are to:

(1) acquire the basic concepts of Commerce;
(2) examine the relationship between Commerce and other related business subjects; (3) apply the principles of Commerce in Nigeria;
(4) appreciate modern, dynamic and positive changes in commercial activities.

UTME CBT Practice Tests
UTME CBT Practice Tests – Commerce (FREE Access) – Click Here!
UTME CBT Practice Tests – Commerce (Registered Users) – Click Here!

1. Commerce
(i) Meaning (ii) Functions

2. Occupation
(i) Meaning (ii) Types (industrial, commercial and services)

3. Production
(i) Meaning (ii) Factors, characteristics and rewards (land, labour, capital and entrepreneur) (iii) Division of Labour (iv) Specialization (v) Types (primary, secondary and tertiary)

4. Trade
(i) Meaning
(ii) Classification:
a. Home Trade
(i) Retail trade
– types of retailers
– functions of retailers
– trends in retailing (branding, self service, vending machines, the use of luncheon and fuel vouchers)
– advantages and disadvantages of retailers
(ii) Wholesale trade
– Types of wholesalers (merchant, agent and general)
– Functions of wholesalers
– Advantages and disadvantages of wholesalers
b. Foreign trade
(i) Basic issues in foreign trade (balance of trade visible and invisible, balance of payments and counter trade)
(ii) Procedures and documents used in export, import and entrepot trade
(iii) Barriers to international trade.

5. Purchase and Sales of Goods
(i) Procedure and documentation (enquiry, quotation, order, invoice, proforma invoice, statement of accounts, indent, consular invoice, bill of lading, certificate of origin, consignment note, etc)
(ii) Terms of trade (trade discount, quantity discount, cash discount, warranties, C.O.D., C.I.F., F.O.B., and E.O.E.)
(iii) Terms of payments
a. Cash – Legal tender
b. Credit
– Meaning
– Types and functions
– Merits and demerits

UTME CBT Practice Tests
UTME CBT Practice Tests – Commerce (FREE Access) – Click Here!
UTME CBT Practice Tests – Commerce (Registered Users) – Click Here!

6. Aids-to-trade
a. Advertising (i) Types and media (ii) Advantages and disadvantages
b. Banking (i) Types of banks (ii) Services (iii) Challenges
c. Communication (i) Process (ii) Types (iii) Trends (iv) Merits and demerits (v) Barriers
d. Insurance (i) Types (ii) Principles (iii) Terms (iv) Benefits
e. Tourism (i) Terms (ii) Benefits (iii) Challenges
f. Transportation (i) Importance (ii) Forms/mode (iii) Advantages and disadvantages (iv) Regulatory agencies
g. Warehousing (i) Importance (ii) Types (iii) Functions (iv) Location

7. Business Units
(i) Forms of ownership (ii) Characteristics/features (iii) Registration of businesses (iv) Business Mergers
(v) Determination of choice of business units
(vi) Dissolution and liquidation of businesses

8. Financing Business
(i) Sources of finance (personal savings, sale of shares and bonds, loans, debentures, mortgage, bank overdraft, ploughing back of profit, credit purchase, leasing
(ii) Problems of sourcing finance
(iii) Types of capital (share capital, capital owned, authorized (registered or nominal) capital, issued capital, called-up capital, paid-up capital, liquid capital, working capital and owners’ equity)
(iv) Calculation of forms of capital, profits (gross and net) and turnover
(v) Bureaux de change

9. Trade Associations
(i) Objectives and functions of trade associations (e.g. Cocoa Farmers’ Association, Garri Sellers’ Association, Poultry Farmers’ Association)
(ii) Objectives and functions of consumer association (e.g. thrift, credit and loans)
(iii) Objectives and functions of Chambers of Commerce (e.g. NACCIMA)

10. Money
(i) Evolution
(ii) Forms
(iii) Qualities/characteristics
(iv) Functions

11. Stock Exchange
(i) Importance and functions
(ii) Procedure of transactions and speculations
(iii) Types of securities (stocks, shares, bonds, debentures, etc)
(iv) Second-Tier Securities Market (STSM), listing requirements, types of companies for the market, advantages and operating regulations of the market.

UTME CBT Practice Tests
UTME CBT Practice Tests – Commerce (FREE Access) – Click Here!
UTME CBT Practice Tests – Commerce (Registered Users) – Click Here!

12. Elements of Business Management
(i) Functions (planning, organizing, staffing, coordinating, motivating, communicating and controlling)
(ii) Principles (span of control, unity of command, delegation of authority, etc)
(iii) Organizational structure (line, line and staff, functional, matrix and committee)
(iv) Functional areas of business (production, marketing, finance and personnel)

13. Elements of Marketing
(i) Functions and Importance
(ii) The marketing concept (consumer orientation, customer satisfaction and integrated marketing)
(iii) Marketing mix (product, price, place (distribution and promotion) (iv) Market Segmentation
(v) Customer Service.

14. Legal Aspects of Business
(i) Meaning and validity of a simple contract
(ii) Contract Agency, Sale of Goods Acts and Hire Purchase Act
(iii) Rights and obligations of employer and employee
(iv) Government regulations of business – registration of business, patents, trade marks and copyrights
(v) Consumer protection – need for, and means of protection (Government legislation, Foods and Drugs Act, Standards Organization Act, Trade Descriptions Act, Consumer Association, Consumer Protection Council, NAFDAC, NDLEA, Customs and Excise, etc.)

15. Information and Communication Technology (ICT)
a. Computer
(i) Appreciation/application
(ii) Types
(iii) Functions
(iv) Advantages and disadvantages
(v) Challenges

b. Terms (Internet, Intranet, browsing, password, e-mail, , yahoo, search, cyber café, Local Area Network, etc.)
c. Activities – (i) e-commerce (ii) e-banking (iii) e-business

16. Business Environment and Social Responsibility
(i) Legal, political, economic, social, cultural, technological environment, etc
(ii) Safe products, philanthropic and social environment and societal consideration
(iii) Types of pollution (water, air and land) and their implications.

UTME CBT Practice Tests
UTME CBT Practice Tests – Commerce (FREE Access) – Click Here!
UTME CBT Practice Tests – Commerce (Registered Users) – Click Here!


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