OBAFEMI AWOLOWO UNIVERSITY 2013 POST-UTME SCREENING EXERCISE TEST 4

1. The label on a product such as “pampers” is a type of (A)trademark (B)Branding (C) packaging (D) patient right

2. The lake Chad Basin commission was formed in (A) 1974 (B) 1984 (C) 1954 (D) 1964.

3. The major problem confronting cyber cafe operator is (A) advance fee fraud by clientele (B)poor network coverage (C)high operating costs (D)copyright violations by clients

4. The major responsibility of an entrepreneur is to; (A) employ all factors of production in the business
(B) coordinate and determine the proportion of what to produce (C) plan and organize all activities in the business (D) Direct and control all the affairs of the business.

5. The media used for inter-departmental communication includes (A) circulars, advertisement and notice boards (B) memorandum circular and the telephone (C) memorandum, advertising and face-face (D)memorandum, advertising and the grapevine.

6. The most essential element of a product is the (A) Price (B) Utility (C) Design (D) Color.

7. The most important benefit of insurance is that it provides (A) control over activities (B)the insured with a right to premium (C)the insured with a right to full compensation (D) protection against risks.

8. The most important difference between community banks and people’s bank is that the (A) Latter is owned solely by government while the former are not (B) Former cater for rural dwellers while the latter caters
for both rural and urban dwellers. (C) Former are services oriented while the latter is profit
oriented (D) Latter advanced loans to the public while the former advance loans to rural dwellers only.

9. The most important factor that delayed the developments of commerce in Nigeria was (A) the inefficient means of communication (B) that there were few entrepreneurs (C) the unavailability of infrastructural facilities (D)that there were few developed markets.

10. The necessary documents used in foreign trade are. (A) bill of lading invoice and letter of inquiry (B) .indent bill of exchange, bill of lading and invoice (C) invoice, shipping note, bill of lading and freight note
(D) shipping note, certificate of origin and visible exports.

11. The practice whereby government relinquishes its ownership interest in a public enterprise is (A) commercialization (B) indignation (C) privatization (D) nationalization.

12. The primary objective of a business organization is to (A) Cater for the needs of its owners (B)Work towards making returns (C)Assist the government to serve the citizen (D) improve the standard of living of its proprietors.

13. The promotion of savings culture is a feature of a (A)trade association (B) consumer’s cooperative society (C) thrift cooperative society (D) business association.

14. The quality and quantity of production mostly depend on the (A) effectiveness of factors (B) availability of factors (C) level of education of entrepreneurs (D) level of cooperation among workers.

15. The rewards of rents, wages, interests and profits accrue
from (A)capital, labor, land and entrepreneur, respectively (B) land, entrepreneur, labor and capital, respectively (C) land, labor, capital and entrepreneur, respectively (D) labor, entrepreneur, land and capital, respectively.

16. The Stock Exchange is a market where (A)Long -term securities are sold (B)All type of securities are sold (C)Short term securities are sold (D)Medium- term securities are sold.

17. The sum of money paid by a policy-holder to an insurer is referred to as (A)interest (B)premium (C)gross profit (D)sales revenue

18. The type of activity which turns processed raw material into consumer and industrial goods described as
(A) Extractive (B) Manufacturing (C) Constructive (D) Processing.

19. The type of communication from superior to a subordinate in an organization is referred to as (A) horizontal communication (B) lateral communication (C) downward communication (D) upward communication.

20. The WestAfrican Clearing House became legally operational on; (A) 1st July, 1976 (B) 25th June, 1975 (C)14th March, 1975 (D) 3rd May, 1974.

21 . To increase the supply of money in a country, the central bank has to; (A) Reduce cash ratio (B)sell securities in the open market (C)call on special deposits (D) raise cash ratio.

22. When’FOB’ is written on a document, it implies that the buyer bears the (A)cost of goods and advert (B)loading costs and insurance (C) insurance and transport costs (D) transport and communication costs.

23. When a price is quoted at F.O.B, it means that the price; (A)excludes loading charges incurred in bringing the goods to the dock (B) excludes all necessary shipping charges payable for insurance (C) includes all charges payable on shipping a consignment to the port of destination. (D) includes charges for loading goods onto the ship.

24. Where two or more companies agree to work on a project too large for one of them, this is called; (A) Consortium (B) Merger (C) Combination (D) Cartel

25. Which of the following confirms the accuracy of the duty charge on imported goods? (A)An indent (B) consular invoice (C) consignment note (D) shipping note.

26. Which of the following groups is paid first when a firm liquidates? (A) Preference share holders {B) Debenture holders (C) Ordinary shareholders (D) Cumulative preference shareholders.

27. Which of the following is a disadvantage of nationalization? (A) it promotes poor economic planning (B) The cost services are not determined by market forces (C) it may lead to rationalization of resources (D) Development of local skills and technology is retarded.

28. Which of the following is a disadvantage of the use of teleprinters in communication? (A) Transmission speed is slow (B) Pictures cannot be transmitted (C)Transmission quality is Poor (D) it cannot transmit during bad weather

29. Which of the following is a form of social responsibility of a business? (A) selling goods at cheaper prices
(B) using the best technology available (C) maintaining tidy and sage environment (D) meeting contractor’s obligations

30. Which of the following is an example of conglomerate? (A) National Electric Power Authority (B) United African Company Nigeria Plc (C) The Nigeria Railway Corporation (D) First Bank of Nigeria Plc

31 . Which of the following is an example of trade association? (A) European union (B) National marketing board
(C) Organization of Africa unity (D) National farmer’s council

32. Which of the following is both direct and indirect credit enterprise? (A) Co-operative and thrift society (B) Retail co-operative society. (C) Consumer co-operative society.(D)Wholesaler co-operative society.

33. Which of the following is the most important business resource? (A) Money (B) Management (C) Materials (D) Man-power

34. Which of the following maxims negates the principle of collective bargain? (A) individual employees have weak bargaining base (B) individual employees attain strength when they come together in a union
(C) Only members of the union can benefit from agreement negotiated by the union. (D) Collective bargaining covers the vast majority of employees, whether union members or not

35. Which software program can be used to generate financial reports from a company’s client list?
(A)MS word (B)Database (C)MS Excel (D)Adobe

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