Services of bank - Jamb Commerce Past Questions and Answers

Question 16:

• JAMB 2012

A current account holder pays fees for services in form of

A. Bank charges
B. Interest rates
C. Commission on turnover
D. Minimum lending rate

Question 17:

• JAMB 2014

A loan to a customer with a cheque account at a bank in which the account is allowed to go into debit is

A. Overdraft
B. Advance
C. Interest
D. Commission

Question 18:

• JAMB 2015

A cheque drawn by a bank official on the bank’s deposit in another bank on a customer’s deposit in another bank

A. Bank draft
B. Bankers’ order
C. Promissory note
D. Travelers cheque

Question 19:

• JAMB 2016

The minimum lending rate of a bank is a component of its

A. Current assets
B. Debit balances
C. Credit balance
D. Fixed assets

Question 20:

• JAMB 2017

Another name or term for a dishonoured cheque is ______

A. An order cheque
B. A bounced cheque
C. A bearer cheque
D. An open cheque