Neco Commerce Exam 2025/2026: Full List Of Highly Repeated Topics & Past Questions

The NECO Commerce Exam is one of the most important subjects for students in the commercial class. It focuses on business activities, trade, and the roles of various institutions in commerce. Year after year, NECO repeats similar questions from key areas, making it easier for smart students to prepare and excel.

This guide provides:

• A complete list of highly repeated topics

• Sample past objective and theory questions

• FAQs to boost your preparation

• Tips to score high in the exam

Full List of Highly Repeated Topics in NECO Commerce

1. Meaning, Scope, and Functions of Commerce

• Branches of commerce: trade and auxiliaries

• Differences between commerce and economics

Sample Question:
Explain the relationship between commerce, trade, and aids to trade.

2. Occupation

• Types of occupation: Industrial, Commercial, and Services

• Differences between direct and indirect services

Sample Question:
List and explain the three major types of occupation with examples.

3. Trade: Home and Foreign

• Types of trade: wholesale, retail, import, export, entrepôt

• Differences between home and international trade

• Barriers to international trade

Sample Question:
State four differences between home trade and foreign trade.

4. Aids to Trade

• Banking, insurance, advertising, warehousing, communication, transport

• Functions of each aid to trade

Sample Question:
Explain four ways transport facilitates commerce.

5. Business Units

• Sole proprietorship, partnership, limited liability companies, co-operatives

• Features, advantages, and disadvantages

• Public corporations

Sample Question:
Differentiate between a private and public limited liability company.

6. Financing Business

• Sources of business finance: personal savings, loans, overdrafts, grants

• Types of capital: fixed, working, liquid

Sample Question:
Explain the difference between fixed capital and working capital.

7. Insurance

• Types: life, fire, marine, motor, accident, burglary

• Principles of insurance: indemnity, insurable interest, utmost good faith, etc.

• Importance of insurance in business

Sample Question:
Describe any three principles of insurance.

8. Warehousing

• Types of warehouses: bonded, public, private

• Functions and importance of warehousing

Sample Question:
State and explain three types of warehouses.

9. Advertising and Marketing

• Functions and types of advertising

• Media of advertising

• Differences between advertising and personal selling

Sample Question:
List and explain four media of advertising.

10. Consumer Protection

• Consumer rights and responsibilities

• Government agencies (e.g., SON, CPC, NAFDAC)

• Importance of consumer education

Sample Question:
Mention three roles of government agencies in consumer protection.

11. Stock Exchange and Capital Market

• Functions of the stock exchange

• Differences between stock market and money market

• How businesses raise capital through the exchange

Sample Question:
Explain three functions of the stock exchange market.

12. Transportation and Communication

• Modes of transport: land, air, sea

• Modern communication tools: internet, mobile, radio, etc.

• Impact on commerce

Sample Question:
Highlight four reasons why communication is important in commerce.

NECO Commerce Past Objective Questions (Samples)

1. Which of the following is an aid to trade?
   A. Manufacturing
   B. Mining
   C. Warehousing
   D. Agriculture
   Answer: C

2. The major reason for advertising is to:
   A. reduce prices
   B. promote sales
   C. discourage competition
   D. employ staff
   Answer: B

3. The sum paid periodically to an insurance company is called:
   A. interest
   B. tax
   C. claim
   D. premium
   Answer: D

4. A sole proprietor is best described as a business:
   A. managed by the government
   B. owned and run by one person
   C. that sells only agricultural goods
   D. registered as a cooperative
   Answer: B

5. Which of the following is a function of a wholesaler?
   A. Advertises goods to consumers
   B. Buys goods in large quantities from retailers
   C. Links manufacturers with retailers
   D. Provides storage for raw materials
   Answer: C

Exam Preparation Tips for NECO Commerce

• Focus on topics listed above – they're most repeated

• Solve at least 10 past question papers

• Use mnemonics and charts to remember key points

• Group-study helps with case studies and explanations

• Don’t skip insurance and trade topics – they are NECO favorites

FAQs on NECO Commerce Exam 2025/2026

Q1: How many papers are in NECO Commerce?

NECO Commerce has two papers:

• Paper I (Objective)

• Paper II (Theory/Essay)

Q2: What are the most repeated questions in NECO Commerce?

NECO often repeats:

• Types of trade and business units

• Principles of insurance

• Functions of advertising and banking

• Stock exchange roles

Q3: Is NECO Commerce hard?

Not at all! With proper preparation using past questions and studying repeated topics, it's easy to score an A1.

Q4: How can I pass NECO Commerce without cramming?

• Understand concepts, don’t just memorize

• Practice questions and use real-life examples

• Teach someone else – it helps retention

Q5: Will NECO ask questions on e-commerce or online business?

Yes, modern commerce topics like e-commerce, online banking, and mobile payments are beginning to appear more often in recent exams.

Conclusion

Success in the NECO Commerce Exam 2025/2026 starts with studying highly repeated topics and using past questions. By following this guide, you’re already ahead of the curve. Stay focused, revise smart, and aim for A1.