WAEC Commerce Past Questions & Answers - Page 224

1,116.

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

Correct answer is D

No explanation has been provided for this answer.

1,117.

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

Correct answer is E

No explanation has been provided for this answer.

1,118.

A cheque drawn by a bank on itself is a?

A.

credit transfer

B.

direct debt

C.

certified cheque

D.

bankdraft

Correct answer is D

No explanation has been provided for this answer.

1,119.

Which of the following regulates and controls the activities of the Nigerian Stock Exchange?

A.

Central Bank

B.

Association of Commercial Banks

C.

Securities and Exchange Commission (SEC)

D.

Nigerian Association of Chambers of Commerce

E.

Brokers and Jobbers

Correct answer is C

No explanation has been provided for this answer.

1,120.

Which of the following is a non- indemnity insurance?

A.

Marine

B.

Life

C.

Fire

D.

Bad debts

E.

Burglary

Correct answer is B

No explanation has been provided for this answer.