Services of bank - Jamb Commerce Past Questions and Answers

Question 11:

• JAMB 2008

An account maintained with a commercial bank for the purpose of foreign exchange transaction is the?

A. Foreign account
B. International account
C. Domiciliary account
D. Foreign reserves account

Question 12:

• JAMB 2008

A crossed cheque with the inscription 'not negotiable' must be paid into the?

A. Current account of the drawer
B. Current account of the payee
C. Savings account of the payee
D. Fixed account of the payee

Question 13:

• JAMB 2009

A cheque which a bank draws on its own funds is a?

A. Bankdraft
B. Cashier's cheque
C. Bank cheque
D. Crossed cheque

Question 14:

• JAMB 2009

One of the facilities enjoyed by a current account holder is?

A. A dividend
B. A bonus
C. An overdraft
D. Interest on deposits

Question 15:

• JAMB 2012

Which of the following is a characteristic of a bearer cheque

A. It is made with transverse lines
B. It is made payable to whoever presents it
C. It is made without transverse lines
D. It is only payable into the payees account