Banking - Jamb Commerce Past Questions and Answers

Question 36:

• 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 37:

• 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 38:

• JAMB 2009

The central bank differs from commercial banks because it?

A. Renders service to customers
B. Carries out foreign exchange transactions
C. Issues currencies
D. Discount bills

Question 39:

• JAMB 2011

A cheque that has been drawn but not presented for payment can still be honored?

A. Within 6 months
B. After 9 months
C. Within 9 months
D. After 6 months

Question 40:

• 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