commencement exercise vs baccalaureate

commencement exercise and baccalaureate both are nouns.

Word	Noun	Adjective	Verb	Adverb
commencement exercise	Yes	No	No	No
baccalaureate	Yes	No	No	No

commencement exercise (noun)	baccalaureate (noun)
an academic exercise in which diplomas are conferred	an academic degree conferred on someone who has successfully completed undergraduate studies
	a farewell sermon to a graduating class at their commencement ceremonies