Jamb Commerce Past Questions and Answers

Question 1541:

• JAMB 2022

Which of the following is not a characteristic of a commercial bank?

A. Established as limited liability company
B. Established by individuals or organizations
C. Established to issue bank notes
D. Established with the view of making profit

Question 1542:

• JAMB 2022

Central banks sell treasury bills to the public to

A. Increase cash in the banking system
B. Raise revenue for commerical banks
C. Raise revenue for private investors
D. Reduce cash in circulation

Question 1543:

• JAMB 2022

A document used to ensure correct payment of duty at the importing country is

A. Documentary credit
B. Consular invoice
C. Certificate of origin
D. Bill of lading

Question 1544:

• JAMB 2022

A cheque is specially crossed if

A. The name of the account holder is written between two parallel lines drawn across it
B. It could be paid over the counter
C. The name of the bank is written between two parallel lines drawn across it
D. Only two parallel lines are drawn across it

Question 1545:

• JAMB 2022

One of the functions of a trade association is to

A. Pay members salaries
B. Promote members' welfare
C. Provide loans to members
D. Provide employment for members