The amount a current account holder is allowed to withdraw in excess of the balance in his account is
A. standing order B. overdraft C. interest D. credit transfer Correct Answer: Option B – overdraft
Which of the following instruments of payment could be used in international trade?
A. Promissory note B. B. Postal order C. I. O.U D. Bill of exchange Correct Answer: Option D – Bill of exchange
The purpose for which the Central Bank sells securities is to
A. reduce the interest rate B. reduce cash in the economy C. increase cash in the economy D. incrcase the interest rate Correct Answer: Option B – reduce cash in the economy
Which of the following means of payment requires acceptance by the debtor to make it valuable?
A. Bearer’s cheque B. Bill of exchange C. Postal order D. Promissory note Correct Answer: Option B – Bill of exchange
One of the functions of the ports authority is?
A. checking the activities of smugglers. B. collecting import duties C. enforcing law ad order in harbours D. providing warehousing services. Correct Answer: Option C – enforcing law ad order in harboursProducts
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