Banking - Jamb Commerce Past Questions and Answers

Question 6:

• 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 7:

• JAMB 1995

A major liability of a commercial bank arises from

A. Customers' deposits
B. Loans and advances
C. Overdrafts
D. Staff allowance

Question 8:

• JAMB 1995

A bank statement is a document

A. Ordering a bank to pay on demand a stated sum of money
B. Containing records of receipts, payments and balance on an account
C. Used for paying into bank account
D. Used for regular withdrawal of money from a savings account

Question 9:

• JAMB 1997

Commercial banks are referred to as departmental stores of banking because they

A. Have many branches
B. Have many customers
C. Are found in the cities
D. Offer many types of services

Question 10:

• JAMB 1998

The most important difference between community banks and peoples’ bank is that the?

A. Latter is owned solely by government while the former are not
B. Former cater for ruler dwellers while the latter cater for both rural and urban dwellers
C. Former are service oriented while the latter are profit oriented
D. Latter advances loans to the public while former advance loans to the rural dwellers only.