Waec Commerce 1995 Past Questions and Answers

Question 36:

• WAEC 1995

A cheque drawn by a bank on itself is a?

A. Credit transfer
B. Direct debt
C. Certified cheque
D. Bankdraft

Question 37:

• WAEC 1995

A cheque drawn by a bank on itself is a?

A. Credit transfer
B. Direct debt
C. Certified cheque
D. Bankdraft

Question 38:

• WAEC 1995

Which of the following is formed primarily to promote savings and loans among members?

A. Consumers co-operative society
B. Producer co-operative society
C. Co-operative wholesale soceity
D. Retail Co-operative society
E. Co-operative thrift and credit society

Question 39:

• WAEC 1995

Mr Ojo borrowed N54,000 from a Commercial bank and deposited his life assurance certificate with the bank. The certificate deposited serves as?

A. A loan repayment
B. A current asset
C. An interest charged
D. A collateral society
E. A part of payment

Question 40:

• WAEC 1995

When an insurance policy is cleared void because of a false declaration the principle involved is?

A. Indemnity
B. Insurable interest
C. Proximate cause
D. Utmost good and favour ''?