Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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The major condition for obtaining loan in thrift, credit and loans cooperative societies is

Commerce
JAMB 2000

The major condition for obtaining loan in thrift, credit and loans cooperative societies is

  • A. provision of collateral security
  • B. a high level of education
  • C. possesssion of a large business
  • D. an approved project plan
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Correct Answer: Option A
Explanation

Thrift, credit, and loans cooperative societies typically require the provision of collateral security as the major condition for obtaining a loan. Collateral security serves as a guarantee that the borrower will repay the loan, and in case of default, the cooperative society can claim the collateral to recover the loan amount.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now