Waec Commerce 2000 Past Questions and Answers

Question 26:

• WAEC 2000

When a customer writes a cheque in his name and withdraws cash with it from his account he is both the?

A. Drawee and the payee
B. Drawer and the payee
C. Drawee and the drawer
D. Drawer and the payee

Question 27:

• WAEC 2000

Which of the following is a means of payments through the post office?

A. Standing Order
B. Promissory note
C. Money order
D. Telegraphic transfer

Question 28:

• WAEC 2000

Which of the following encourages people to save towards owning a house?

A. Merchant bank
B. Development bank
C. Mortgage bank
D. Commercial bank

Question 29:

• WAEC 2000

Which of the following services is not rendered by commercial banks?

A. Business advice
B. Currency notes issue
C. Accepting deposits
D. Credit transfer

Question 30:

• WAEC 2000

A retirement insurance policy which enables the assured to receive income for a specific period is?

A. Annuity
B. Endowment
C. Whole life
D. Fidelity guarantee