Banking - Jamb Commerce Past Questions and Answers

Question 21:

• JAMB 2004

Charges for loans paid by commercial banks to the Central Bank of Nigeria are called?

A. Bank rates
B. Credits charges
C. Interest rates
D. Bank charges

Question 22:

• JAMB 2005

A cheque drawn by a bank official on the bank's deposits in another bank on a customer's instruction is known as?

A. Promissary note
B. Bankdraft
C. Banker's order
D. Travellers' cheque

Question 23:

• JAMB 2005

A type of credit offered by both commercial and merchant banks in Nigeria is?

A. Trade credit
B. Line of credit
C. Discounting facility
D. Overdraft

Question 24:

• JAMB 2005

The bank that discount bills of exchange is the?

A. Central bank
B. Mortage bank
C. Development bank
D. Comercial bank

Question 25:

• JAMB 2005

The bank that discount bills of exchange is the?

A. Central bank
B. Mortage bank
C. Development bank
D. Comercial bank