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A cheque which a bank draws on its own funds is a?

Commerce
JAMB 2009

A cheque which a bank draws on its own funds is a?

  • A. bankdraft
  • B. cashier's cheque
  • C. bank cheque
  • D. crossed cheque
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Correct Answer: Option B
Explanation

A cashier's cheque is a cheque written by a financial institution on its own funds, signed by a cashier, teller, or a representative, and paid to a third party.

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