Services of bank - Jamb Commerce Past Questions and Answers

Question 21:

• JAMB 2018

Current account holders withdraw money through

A. Credit card
B. Cheque
C. Transfer
D. Withdrawal form

Question 22:

• JAMB 2018

The Central Bank Monetary policy instrument by which it buys and sells securities is called

A. Bank rate
B. Cash reserve ratio
C. Open market operation
D. Bank credit

Question 23:

• JAMB 2018

Why will a cheque be dishonored?

A. Regular signature
B. High amount of money written on the cheque
C. Insufficient funds
D. General crossing

Question 24:

• JAMB 2019

A cheque that is payable to whoever presents it is known as______

A. Order cheque
B. Open cheque
C. Crossed cheque
D. Bearer cheque