Waec Commerce 2011 Past Questions and Answers

Question 26:

• WAEC 2011

An overdraft is

A. Amount permitted to be withdrawn in excess of one's deposit
B. Excessive cash withdrawn by commercial banks from the Central Bank
C. Credit balance standing in the name of a customer
D. Special deposits made by commercial banks

Question 27:

• WAEC 2011

Which of the following is not a principle of insurance

A. Insurable interest
B. Subrogation
C. Surrender value
D. Proximate cause

Question 28:

• WAEC 2011

The par value of a share is also known as its

A. Premium price
B. Market price
C. Discount price
D. Nominal price

Question 29:

• WAEC 2011

A cheque dated 15th March 2012, will become stale on

A. 16th June 2012
B. 16th July 2012
C. 16th August 2012
D. 16th September 2012

Question 30:

• WAEC 2011

Banks settle their indebtedness in the

A. Discount house
B. Stock exchange market
C. Commercial bank
D. Clearing house