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General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers COMMERCE Paper 7100/12 Multiple Choice Question…
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General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers COMMERCE Paper 7100/12 Multiple Choice Question Question Key Key Number Number 1 B 21 D 2 A 22 C 3 C 23 D 4 B 24 B 5 D 25 A 6 C 26 B 7 D 27 C 8 D 28 A 9 D 29 C 10 A 30 B 11 B 31 A 12 D 32 C 13 D 33 A 14 D 34 A 15 C 35 C 16 B 36 B 17 B 37 B 18 C 38 B 19 D 39 C 20 A 40 D The multiple choice paper consists of 40 4-option items with some questions involving pictorial or diagrammatic data and some requiring candidates to undertake calculations. The mean was 27.769 with a standard deviation of 5.656. There were 1467 candidates. The highest mark was 39 and no candidate scored below 15. Candidates found the following questions relatively easy and a high facility was achieved for each of these questions – 1, 3, 4, 5, 6, 7, 8, 9, 17, 19, 24, 32, 34 and 39. Candidates found some questions quite difficult. In Question 10 some candidates chose Option B instead of the correct answer, Option A. In Question 12 all options were functions of a wholesaler. Candidates had to find the function that benefited both the manufacturer and the retailer. Option D was the correct answer but large numbers of candidates chose Option A and also Option C. In Question 16 some candidates thought that Option A was the correct answer rather than Option B. In Question 21 it is possible that candidates failed to notice that the advertising was for a world tour so a website advertisement, Option D, was the correct answer rather than Option C, the poster, more suitable for © 2012 General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers a local event. In Question 22 many candidates chose Option B – bright colours as the method of appeal for a new skin cream rather than Option C – good health. In Question 29 there was confusion about the functions of port authorities. Many candidates thought that ports rather than customs authorities control the movement of prohibited goods – Option B. Option C was the correct answer. Although the majority of candidates chose Option B in Question 30, the other three options attracted some responses, pointing to an element of guessing. If goods are stored rather than sold, capital used for their purchase is tied up. In Question 31, Option D – in transit was a popular choice rather than the correct answer, Option A – in bond. In Question 33 the concepts of underinsurance and the average clause were not understood by many candidates. The stock was underinsured by 25% so the owner of the factory could expect to receive only 75% of the value of the loss, i.e. Option A $30 000 rather than Option B, $40 000. Some candidates did not understand the characteristics of direct debit and chose either Option B or Option D in Question 35. Candidates tended to chose Option C or Option D rather than Option B as the correct answer for Question 36. A multinational company is unlikely to be concerned about competition from local businesses as it will probably be exporting its products. Although nearness to markets may be a factor, ever- improving transport systems for exporting goods are likely to diminish its importance. Government grants are designed to entice multinationals to locate in particular countries. The calculation of rate of turnover in Question 40 is always difficult for candidates. One method of calculating the rate of turnover is by dividing cost of sales by average stock held (at cost price) so the correct answer was Option D. Although most candidates answered this question correctly, all other options attracted some responses suggesting an element of guesswork. © 2012 General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers COMMERCE Paper 7100/13 Multiple Choice Question Question Key Key Number Number 1 B 21 C 2 A 22 B 3 A 23 D 4 C 24 B 5 D 25 D 6 C 26 D 7 B 27 C 8 B 28 D 9 D 29 B 10 A 30 A 11 B 31 B 12 D 32 C 13 D 33 A 14 D 34 A 15 A 35 C 16 D 36 C 17 D 37 D 18 C 38 C 19 A 39 C 20 B 40 B The multiple choice paper consists of 40 4-option items with some questions involving pictorial or diagrammatic data and some requiring candidates to undertake calculations. The mean was 24.347 with a standard deviation of 4.740. There were 98 candidates. The highest mark was 33 and no candidate scored below 10. Candidates found the following questions relatively easy and a high facility was achieved – Questions 1, 5, 6, 8, 12, 22, 24, 25, 28, 32 and 36. Candidates found some questions particularly difficult. In Question 7 more candidates thought that Option A was the correct answer than those selecting Option B, the correct answer. After-sales service does not assist self-service. Branding products does, as it enables customers to recognise the products they want. In Question 9 many candidates chose Option C instead of the correct answer, Option D. Although it is true that no interest is paid on informal credit, this also applies to extended credit if the bill is paid before a certain date. © 2012 General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers In Question 10 many candidates chose Option D. Consumer magazines do not advertise new goods, so Option A was the correct answer. In Question 13 it appeared that many candidates were guessing at the correct answer as all options attracted significant numbers of responses. Option D was the correct answer. Candidates had some difficulty with the calculation in Question 17 with all options attracting some responses. Option D was the correct answer. The concept of a trading bloc was not understood in Question 19 with all options attracting some responses. Option A is the correct definition of a trading bloc. In Question 20 a number of candidates chose Option C rather than Option B. Quotas limit the amount of goods imported into a country so government revenue from import duties is likely to decrease as less goods are imported. In Question 21 more candidates chose Option A than Option C, the correct answer. Advertisements are easy to change on websites but website design requires expertise and is therefore expensive. Candidates found Question 35 quite difficult. All options attracted responses. Many candidates chose Options A and D rather than Option C, the correct answer. Few candidates calculated the monthly instalments correctly in Question 38. Option C was the correct answer. The majority of candidates chose one of the other three options. The calculation of rate of turnover in Question 40 is always difficult for candidates. Rate of turnover is always expressed as a figure not a percentage so Option C could not be right. Rate of turnover is calculated by dividing sales by average stock so the correct answer was Option B. © 2012 General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers COMMERCE Paper 7100/22 Written Key Messages To score good marks on this paper, candidates need to present developed answers to the questions that have a high mark tariff i.e. 6 marks. Candidates need to present reasoned answers offering discussion of an issue or problem and then come to a clear judgement or give a recommendation in accordance with the rubric of the question. Candidates need to study the overall context of the questions set and answer the part questions set in relation to this context. Attention should always be paid to the command words for each question and to individual mark allocations. General comments Candidates are required to answer four questions from a choice of eight in Paper 2. The standard of work was generally good with many candidates achieving high marks. These candidates showed good commercial knowledge and an ability to develop an answer in the context of a particular scenario. Their answers were well constructed and followed the rubric of the question. Weaker candidates presented very brief responses; in the questions offering high mark tariffs, they needed to present a reasoned answer. They did not always answer the questions set and sometimes omitted parts of questions. Many candidates paid attention to the command words or key words of the questions and also to the mark allocations for the part questions. Some parts of each main question were marked according to Levels of Response. Candidates who wrote developed answers, discussed issues and gave reasons for their opinions were able to gain Level 2 marks. Candidates who gave very short answers or presented listed points as their answers to these questions remained in Level 1. If candidates offer some discussion in their answers, consider the options mentioned and follow the rubric of the question they will then achieve a higher level and so more marks. Very few candidates attempted more than the four questions required. The scripts were usually well presented and the standard of English was generally high. It should be remembered that if candidates use additional sheets or booklets, these must be tied securely to the main answer book and clearly labelled. Comments on specific questions Question 1 Most parts of this question were well answered with many candidates scoring full marks or nearly full marks. (a) Many candidates were able to define secondary industry and give a worthwhile example. (b) Most candidates answered this question accurately. © 2012 General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers (c) (i) The percentage of output was usually accurately identified. (ii) The total value of output from primary industry was calculated correctly by many candidates. Some candidates did not show the dollar sign or identify that the answer was in billions. (d) There was some confusion with output and value. Many candidates could explain reasons for the differences in figures such as Country A was probably a developing country with good natural resources and Country B was a developed country with a better educated population that could offer services to other countries. Weaker candidates copied out the figures with little or no commentary. (e) Well prepared candidates were able to develop the explanations given in Part (d) and link the benefits of having surplus exportable products to exchange for imported products which were needed by the country. Many candidates provided Level 2 answers with developed points clearly expressed. Some candidates, however, attempted to say that Country A was not involved in international trade but they found this very difficult to justify. Question 2 Candidates who answered this question in the context of the fruit and vegetable shop gained good marks but many candidates answered parts of this question without any reference to the shop. (a) Turnover – net sales was often confused with the rate of turnover. (b) (i) Very few candidates calculated the cost price of the goods sold correctly. They usually calculated 25% of $50 000 instead of realising that they should have been calculating an additional 25% i.e. $50 000 x 100 so that the cost price was $40 000. 125 (ii) The own figure rule was applied to this question. An incorrect figure from Part (b) (i) was usually carried forward but marks were allowed for the correct method even if the outcome was incorrect. (c) This question proved quite demanding for some candidates who failed to appreciate the need to replace fruit and vegetables frequently because they are perishable and so need to be sold quickly to avoid wastage. (d) Marks were often lost because candidates did not answer the question in the context of the fruit and vegetable shop. Candidates were able to identify two services provided by the wholesaler such as delivery or storage but needed to show how these related to the fruit and vegetable shop – frequent deliveries of fresh produce so saving the shop owner from using his own vehicle and the need for cold storage for perishable produce. (e) Many candidates gave reasonable answers about the use of various promotion methods. They tended to discuss each one in turn and did not always make a recommendation. Better candidates commented that the shop owner was likely to be on a limited budget and so could not afford to use all the methods listed. They argued that buy one, get one free and loss leaders were likely to prove rather expensive for the shop and that posters and point of sale displays were cheap and effective. Question 3 Candidates answered this question quite well but many needed to make better use of the figures given in the bar chart. (a) Most candidates identified 90% correctly. (b) Many answers to this question concentrated on the advantages and disadvantages of Internet shopping instead of relating their comments to the data provided and the trends shown in the bar chart regarding sports equipment. Better candidates realised that the data for 2015 was only a forecast and so could be inaccurate. (c) Candidates had no problems with this question about consumer protection and consumers’ rights. © 2012 General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers (d) (i) Most candidates could show an advantage to Raza of offering credit to customers – usually increased sales. (ii) Candidates realised that offering credit to customers might lead to cash flow problems for Raza or to the possibility of fraud. (iii) Many candidates scored the mark for this question by saying payment on time or within the settlement period. (e) (i) The benefits of using internal sources of finance were usually known – no repayment, readily available and no interest payments. (ii) Many candidates could explain the circumstances in which a loan would be used rather than an overdraft but some candidates attempted to show the benefits of an overdraft. (iii) Some candidates are still confused about the functions of a sleeping partner. The sleeping partner provides capital and takes profits but does not take part in the running of the business. Question 4 Limited knowledge of the various means of transport and the documents involved was shown by many of the candidates who chose this question. (a) Although many candidates scored the two marks for this question, some candidates opted for stating ‘quick, easy or cheap’ without any explanation and so gained no marks. (b) (i) Candidates often gave two reasons for the decline in the use of rail transport but failed to explain these reasons and so achieved only two of the marks available. Suitable answers included the lack of investment in the railways by governments resulting in old rolling stock, broken railway lines and accidents and the development of other forms of transport such as air freight for goods and the containerisation of goods. (ii) This question was better answered with candidates mentioning the development of high speed trains such as bullet trains, electrification and the development of long-distance rail routes. (c) Although many candidates answered this question correctly, some candidates gave two services offered to passengers at airports. (d) Answers to both parts of this question showed that many candidates needed to be more familiar with these documents. The bill of lading is a document of title, provides evidence of a contract and acts as a receipt. The air waybill acts as an advice note and gives details of the goods carried as well as acting as a receipt. (e) Most candidates gave the advantages and disadvantages of air and sea transport with little regard to the context in which the question was set – carrying a consignment of books from Singapore to the USA. Very few candidates provided a balanced discussion or a well-reasoned recommendation. Question 5 Many candidates showed good knowledge and understanding of banking topics but found some difficulty in relating types of advertising to commercial banks. (a) The services provided by an ATM were well known and a varied list of answers was accepted. (b) (i) Many candidates now understand the uses of debit cards and were able to give the advantages to the cardholder of using a debit card such as wide acceptance, easier and safer than carrying cash and its use for online shopping. (ii) The advantages to the shopkeeper were usually known with many candidates mentioning guaranteed payment, no bad debts and less cash being held on the premises. © 2012 General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers (c) The services provided with Internet banking are now better understood but some candidates still think that cash will be provided. (d) Candidates understood why bank statements are important but many candidates needed to develop their answers fully to gain more marks. (e) Some useful discussions were seen in response to this question with most candidates relating their answers clearly to commercial banks. Some candidates considered all four types of advertising and showed very clearly that they understood what was meant by each of them. Others considered the ones they thought most appropriate for banks. Either approach was acceptable. There were, however, some misconceptions about collective advertising – considered to be cheaper and highly suitable for all the banks to use together. Question 6 Some candidates showed little understanding of aspects of warehousing but others were able to comment and discuss the different types of storage mentioned in the question. (a) and (b) Most candidates were able to identify the businesses listed and scored full marks. (c) Most candidates could show why the selling costs of a cash and carry warehouse are lower – no credit offered, no delivery offered and self service used. (d) (i) Although there was some guidance in the data given in this question, the functions of regional distribution centres (RDCs) are still not understood by the majority of candidates. RDCs are set up by nationwide large-scale retailers to enable them to act as their own wholesalers and to keep all their stores well supplied. This saves on storage space at individual stores and also on transport costs from individual manufacturers. RDCs are not wholesaling businesses who supply Betterbuy and other customers. (ii) The concept of bonded warehouses is better understood and many candidates scored full marks for this question. The main weakness in some candidates’ answers was the omission of storage for dutiable goods. (e) Some candidates coped well with the demands of this question and were able to justify Tom’s need for barns or say why he might not need any barns. Better candidates suggested that Tom could rent out space in his barns when he had no need of them. Question 7 Some of the candidates who chose this question showed good understanding of insurance topics but many candidates found Part (d) quite demanding. (a) (i) Most candidates gained the two marks for this question often referring to compensation if an accident occurred. (ii) Although most candidates could name two other risks, some candidates gave business risks rather than personal risks as their answers. (b) (i) Many candidates gained the two marks for this question but many did not refer to the 10% discount given in the data. (ii) Most answers concentrated on wider range of customers and savings in costs, particularly labour. (c) (i) Many candidates understood the concept of contribution. Indemnity was also accepted as a valid answer. (ii) Many candidates commented on the principle of utmost good faith in answer to this question and scored full marks. © 2012 General Certificate of Education Ordinary Level 7100 Commerce June 2012 Principal Examiner Report for Teachers (d) This question was about the pooling of risk; premiums are usually set according to the likelihood of a particular risk occurring rather than the amount of finance brought in by the numbers of clients paying premiums. L
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