KNEC Craft Certificate in Supply Chain Management Module 1 : Commerce Past Paper July 2023 Answers

Answers for KNEC Craft Certificate in Supply Chain Management Module 1 : Commerce Past Paper July 2023

Course Name:  Supply Chain Management
Also Done By:
Craft Certificate In Secretarial Studies
Craft Certificate In Business Management
Craft Certificate In Human Resource Management
Craft Certificate In Road Transport Management
Craft Certificate In Clerical Operations
Craft Certificate In Cooperative Management
Course Level:  Craft Certificate
Sub Level:       Module I
Course Unit:   Commerce
Exam body:    KNEC
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1.

State the meaning of the term, Commerce ()

2.

State three levels of production ()

3.

List four advantages of operating a small scale retail shop ()

4.

State three similarities between a bill of exchange and a promissory note ()

5.

List three characteristics of a public corporation ()

6.

Distinguish between the terms, banking and bank, as used in financial transactions ()

7.

State three elements of transport considered when moving goods and services from one place to another ()

8.

State three factors considered when determining the amount of insurance premium ()

9.

List three types of private warehouses ()

10.

State the meaning of the following terms as (i)Share; (ii)Stock holder. ()

11.

State two ways in which the government regulates commercial activities in the country ()

12.

State two challenges of operating an online store as an emerging trend in business ()

13.

Explain four reasons for studying Commerce ()

14.

Define the term, entrepreneurship, as a factor of production ()

15.

Explain four benefits of division of labour in production ()

16.

Explain the meaning of, international trade ()

17.

Explain four ways in which home trade may contribute to the growth of a country's economy ()

18.

Highlight four circumstances under which Cash With Order (CWO) is used as a term of payment in home trade ()

19.

Outline four reasons why savings and credit co-operatives are popular in Kenya ()

20.

Explain the meaning of interest, as used in business transactions ()

21.

Explain four factors that may determine the amount of money held by an individual for speculative motives ()

22.

Highlight four advantages of pipeline as a means of transporting oil. ()

23.

Explain the principle of, utmost good faith, in insurance ()

24.

Describe the procedure followed in taking an insurance policy ()

25.

Explain four features that a warehouse should have to function efficiently and effectively ()

26.

Explain the term, security, as used in stock exchange ()

27.

Outline four roles of the Nairobi Securities Exchange (NSE).( ()