BFN104
Banking Function of Merchant Banks includes the following except
Answer: receiving agents for bad loans
The principles of Insurance are all of the following except
Answer: principles of insurance claim
The was marked by the simple
ownership, possession and control of the natural resources.
Answer: era of subsistence
Types of crossing a cheque are all of the following except
Answer: limited crossing
The FITC performs the following functions to enhance manpower development in Nigeria except
Answer: it does not advice on legislative or other measures affecting the aforementioned interests.
is money that is acceptable to the
masses on the strength of government imprints on it.
Answer: token money
A bill either drawn payable within Nigeria, or drawn within Nigeria, or drawn within Nigeria upon some person’s resident therein is a bill
Answer: inland bill
The features of a cheque are all of the folowing except
Answer: it must not be signed
In Nigeria, the concept of e-money was introduced in
Answer: 1966
is simply an irredeemable and
inconvertible money that derives its power to circulate from the government backing.
Answer: fiat
Examples of traditional financial institutions are the following except
Answer: discount houses
The profits of a bank are the portion of its
which include discount, interest
dividends, and commission
Answer: total receipts
A cheque which is specially crossed to a named banker with the addition of the word â€~only is known as
Answer: restrictive crossing
is the currency in circulation
(notes and coins) plus bank deposits.
Answer: pure money
Micro finance Banks can be established by the following except
Answer: parnes in business
The following are some of the components of the Nigerian Banking structure
Answer: industrial banks
A bank which has few owners and attends personally to its management is known as
Answer: private
When money is demanded because of its function as a store of value it is called
Answer: keynesian view of money
A is any financial institution that
accepts, collects, transfers, pays, exchanges, lends, invests, or safe- guard money for its customers.
Answer: bank
The following are major sources of funds for Discount houses except
Answer: equity finance
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