Banking - Jamb Commerce Past Questions and Answers

Question 1:

• JAMB 1994

Commerce is defined as the study of how

A. Man utilizes the resources in his physical environment
B. Man produces, distributes and consumes his goods and services
C. Man buys, sells and distributes goods and services
D. Raw materials are changed into finished goods

Question 2:

• JAMB 1994

Drawing two parallel lines across a cheque means that it has to be paid into the account of the

A. Payee
B. Drawer
C. Drawee
D. Payer

Question 3:

• JAMB 1994

The West African clearing House became legally operational on

A. 1st july, 1976
B. 25th june, 1975
C. 14th march, 1975
D. 3rd may, 1974

Question 4:

• JAMB 2019

A cheque that is payable to whoever presents it is known as______

A. Order cheque
B. Open cheque
C. Crossed cheque
D. Bearer cheque

Question 5:

• JAMB 2019

First Bank of Nigeria is an example of

A. Commercial bank
B. Central bank
C. Development bank
D. Merchant bank