Topic: Banking
Instructional Objectives – At the end of the lesson, the students should be able to:
1 Explain the following business terms: (a) standing order (b) bank draft (c) legal tender (d) money order (e) I.O.U (SSCE 2017 Q7)
2 Outline five functions of commercial banks. (SSCE 2015 Q3a)Â
3 List and explain five ways the central bank controls the commercial banks. (SSCE 2015 Q3b)
4 State four differences between a loan and an overdraft. (SSCE 2011 Q8a)
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5 Explain six factors to be considered by a bank manager before granting a loan. (SSCE 2011 Q8b)
6 State four steps that can be taken by a customer opening a current account. (SSCE 2010 Q3a)
7 Explain six functions of commercial banks. (SSCE 2010 Q3b)
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