CRD124 e-exam (2019)

Question FBQ1 : Voluntarism is the main tenet of modern acts of __________
Answer:  Co-operation
Question FBQ2 : Reserves are available on secured short – term basis. TRUE OR FALSE
Answer: False
Question FBQ3 : Self-help organizations refer to the traditional _______ institutions, which exist in every community.
Answer: co-operative
Question FBQ4 : Borrowed capital does not bear risk. True or False
Answer: True
Question FBQ5 : The co- operatives are owned by___________
Answer: Members
Question FBQ6 : Members constitute the _________ assembly
Answer: general
Question FBQ7 : The cooperative management triangle shows the members as constituting the _________ of the management team.
Answer: Base
Question FBQ8 : Essentialist attempts to define co-operatives in terms of values, ideologies and overall _________ and social goals
Answer: Economic
Question FBQ9 : Members of cooperatives have no rights and privileges in taking an active part in the management of the cooperative. TRUE OR FALSE
Answer: FALSE
Question FBQ10 : Reserve funds are for ___________circumstances
Answer: contingencies
Question FBQ11 : _________organizations are also referred to as Traditional cooperatives institutions
Answer: Self- help
Question FBQ12 : Operating capital is needed for __________ uses to keep the business going
Answer: Everyday
Question FBQ13 : Norminalist approach to cooperative definition attempts to select ______ elements of organization present to all institutions
Answer: Structural
Question FBQ14 : The treasurer is a signatory to society’s account. TRUE OR FALSE
Answer: TRUE
Question FBQ15 : Co-operatives business is controlled by _______ themselves through one (1) man, one vote
Answer: Members
Question FBQ16 : ___________ manages the day to day activities of the secretariat
Answer: Secretary
Question FBQ17 : Members are responsible for creating cooperative department. TRUE OR FALSE
Answer: False
Question FBQ18 : Sole proprietorship is a _____________ man business
Answer: One
Question FBQ19 : Government can give out loans to Co-operative
Answer: TRUE
Question FBQ20 : In _____________ business the success and failure of the business are squarely on one person shoulder
Answer: Sole-proprietorship
Question FBQ21 : The legislative role of Co-operative affairs is the responsibility of
Answer: Government
Question FBQ22 : At least two persons must come together to establish _____________ business
Answer: Partnership
Question FBQ23 : <span style="color:#333333">External pressure can NOT influence people to join a cooperative society. True or false
Answer: False
Question FBQ24 : Most ____________ company started as a family business
Answer: Private limited
Question FBQ25 : ____________ is the capital raised from the other resources
Answer: Borrowed capital
Question FBQ26 : ____________are big organizations whose shares are publicly quoted in the Nigeria Stock Exchange.
Answer: Public limited company
Question FBQ27 : Apex are functionally specialized ______________ Cooperative
Answer: National
Question FBQ28 : _____________are organizations usually established by Government through Act of parliament and similarly authority
Answer: Public corporation
Question FBQ29 : There are __________ types of cooperatives based on function performed
Answer: Two
Question FBQ30 : Sedentary lifestyle is characterized by ______________ abode in specific settlements
Answer: fixed
Question FBQ31 : Public corporations organizations are usually formed because ________________ individuals may not be able to finance them
Answer: private
Question FBQ32 : Auxillary cooperatives take over only some functions such as the supply of goods, loans and ______________
Answer: Credit
Question FBQ33 : In subsistence economy the output of business enterprises is mainly for domestic ______________
Answer: Consumption
Question FBQ34 : Determining the Cooperatives effect demands a consideration of at least _______________business periods
Answer: Two
Question FBQ35 : Cooperatives can be classified into ---------------- and -------------- based on legal status
Answer: Registered and unregistered
Question FBQ36 : Unregistered co-operatives which are co- operatives that have not been fully registered and _______________
Answer: Operating
Question FBQ37 : A rural Co-operatives, which operates in an ____________area
Answer: rural
Question FBQ38 : Cooperative effect is positive when the total level of satisfaction after becoming a Cooperator is ______________ than the total level of satisfaction before becoming a member of the Co-operatives.
Answer: Higher
Question FBQ39 : Primary cooperatives are sometimes called _____________ cooperatives
Answer: local
Question FBQ40 : Secondary cooperatives are mostly formed by a number of _____________ Co-operatives
Answer: primary
Question FBQ41 : Government intervention in cooperatives may have both -------------- and ------------- consequences
Answer: Positive and negative
Question FBQ42 : Secondary cooperatives are sometimes called ______________ Co-operatives
Answer: Regional
Question FBQ43 : ______________ enlightenment is an example of educational effect
Answer: Member
Question FBQ44 : _____________are co-operatives occupying the first layer
Answer: primary
Question FBQ45 : _______________ reasons constitute the major motive why people join or form Cooperative
Answer: Economic
Question FBQ46 : There are ____________ types of cooperative effect
Answer: Eight
Question FBQ47 : Placing the co-operatives society and its interests over and above that of the individuals that make up the co-operatives is called _____________
Answer: Cooperative spirit
Question FBQ48 : Co-operatives ____________ is a result of inner conviction
Answer: Spirit
Question FBQ49 : Tertiary cooperatives are sometimes they are called ___________ Co-operatives
Answer: National
Question FBQ50 :  A _____________ can be referred to as any coming together of primary co-operatives to form another common body
Answer: Secondary
Question MCQ1 : Working type of capital that is _______ in the actual operation of the Co- operatives
Answer: Consumed
Question MCQ2 : ________ takes minutes at all meetings
Answer: Nexus
Question MCQ3 : Co-operatives ____________ is a result of inner conviction
Answer: Short
Question MCQ4 : Primary cooperatives are mostly formed by a number of ______ Co-operatives
Answer: Secondary
Question MCQ5 : _________is capital raised outside the Co-operative
Answer: borrowed
Question MCQ6 : Determining the Cooperatives effect demands a consideration of at least ______ business periods
Answer: Two (2)
Question MCQ7 : An urban Co-operatives, which operates in an ______area
Answer: urban
Question MCQ8 : ________ reserves are created irrespective of members’ feelings
Answer: Statutory
Question MCQ9 : Primary cooperatives are sometimes called local cooperatives or _________
Answer: Apex
Question MCQ10 : Cooperative spirit emphasizes the supremacy of the ________ over everything else
Answer: Cooperatives
Question MCQ11 : Cooperative nexus is the relationship between a_________ as a business entity and members’ private business enterprise or household economy
Answer: Co-operatives organization
Question MCQ12 : _________is the main tenet of modern acts of cooperation
Answer: Voluntarism
Question MCQ13 : _______ is a signatory to the Society’s accounts
Answer: President
Question MCQ14 : ____________ effect occurs when the total of satisfaction before becoming a member of the Co-operative is lower than the total level of satisfaction after becoming a member
Answer: positive
Question MCQ15 : Tertiary cooperatives are sometimes called ______ Co-operatives
Answer: National
Question MCQ16 : ­­­­­­­­­­­­­­­­­________is a one man business
Answer: Sole proprietorship
Question MCQ17 : Treasurer is in charge of all ________ received by the society from members and other sources.
Answer: Money
Question MCQ18 : __________are also known as traditional co-operative institutions
Answer: Self- help organization
Question MCQ19 : Tertiary are formed mostly by _______ Co-operatives
Answer: Secondary
Question MCQ20 : ___________ is a long term capital
Answer: Fixed
Question MCQ21 : _________ are also known as the General Assembly of the co-operative
Answer: Members
Question MCQ22 : <p style="text-align:justify">Nomadic  is characterized by constant ________ of family, homestead and economy of the producer
Answer: movement
Question MCQ23 : Integrated is the type of co-operatives where the members have decided to leave _______ aspects of decision making to management
Answer: All
Question MCQ24 : Partnership  is an improvement on the ________________
Answer: Sole proprietorship
Question MCQ25 : Those  items that often ________ in the service of the Co-operative over a long period of time are called fixed capital
Answer: Remain
Question MCQ26 : Through the directive of the __________,secretary summons all meetings
Answer: President
Question MCQ27 : _________ reserves  are regulated by members taking into consideration their needs and circumstances
Answer: Voluntary
Question MCQ28 : Auxiliary cooperative is sometimes referred to as ___________
Answer: Service
Question MCQ29 : ___________ cooperatives are sometimes called regional Co-operatives
Answer: Secondary
Question MCQ30 : A co-operative society is the following except
Answer: Unlimited returns on equity capital.
Question MCQ31 : _______ is a common business objective
Answer: To make profit
Question MCQ32 : Co-operatives are  _________
Answer: Controlled democratically
Question MCQ33 : Sponsor share is_________ person participation
Answer: Third
Question MCQ34 : The ________ are owned by members
Answer: co-operatives
Question MCQ35 : In the _____________ type of business risks are not shared
Answer: Sole proprietorship
Question MCQ36 : Share capital is the money contributed by _____
Answer: members
Question MCQ37 : __________________ funds are for contingencies or unforeseen circumstances
Answer: Reserve
Question MCQ38 : Working  capital is also called ___________
Answer: Operating
Question MCQ39 : The output of __________business enterprise is mainly for export purposes
Answer: Cash crop
Question MCQ40 : The cooperative management ______ shows the members as constituting the base or the foundation of the management team.
Answer: Triangle
Question MCQ41 : There are__________ kinds of cooperative effects
Answer: Eight (8)
Question MCQ42 : Co-operatives with ___________in which case the liability of the member is not limited to any specific amount and each member can be held for all the outstanding debts of the society.
Answer: unlimited liability
Question MCQ43 : _________are organizations usually established by Government through Act of parliament and similarly authority
Answer: Public corporation
Question MCQ44 : In _________ economy the attitude of the prospective members of the Co-operatives is in the market
Answer: Market
Question MCQ45 : ____________ is needed for everyday uses to keep the business going
Answer: Operating
Question MCQ46 : The most important role of __________ in Co-operative affairs is Legislative role
Answer: Government
Question MCQ47 : ___________ manages the day to day activities of the secretariat
Answer: Secretary
Question MCQ48 : ___________ cooperatives are producers of goods and/or services
Answer: producer
Question MCQ49 : __________ are Co-operatives in the service sector
Answer: Service
Question MCQ50 : In cooperative, shareholding is to ________ person
Answer: One (1)

FBQ1: ________ lifestyle is characterized by constant movement of family, homestead and economy of the producer
Answer: Nomadic
FBQ2: The president is NOT a signatory to society’s account. TRUE OR FALSE 
Answer: FALSE
FBQ3: Members of cooperatives are not involved in the management of the cooperative. TRUE OR FALSE
Answer: False
FBQ4: Co-operatives ____________ is a result of inner conviction
Answer: Spirit
FBQ5: There are ______ types of price effect
Answer: Two
FBQ6: Determining the Cooperatives ________demands a consideration of at least two business periods
Answer: Effect
FBQ7: A rural co-operative operates in a ______area
Answer: rural
FBQ8: Members are responsible for creating cooperative department. TRUE OR FALSE
Answer: False
FBQ9: __________________ funds are for contingencies or unforeseen circumstances
Answer: Reserve funds
FBQ10: _________ are big organizations whose shares are publicly quoted in the Nigeria Stock Exchange
Answer: Public limited companies
FBQ11: _______ is functionally a regional cooperative
Answer: Secondary cooperative
FBQ12: The cooperative management ______ shows the members as constituting the base or the foundation of the management team.
Answer: Triangle
FBQ13: Co-operatives with ___________in which case the liability of the member is not limited to any specific amount and each member can be held for all the outstanding debts of the society.
Answer: unlimited liability
FBQ14: Reserves are for short-term basis. TRUE OR FALSE
Answer: False
FBQ15: Cooperative effect is ______when the total level of satisfaction after becoming a Cooperator is higher than the total level of satisfaction before becoming a member of the Co-operatives.
Answer: Positive
FBQ16: In _________ economy the attitude of the prospective members of the Co-operatives is in the market
Answer: Market
FBQ17: External pressure has no influence people to join a cooperative society. True or false
Answer: False
FBQ18: Government can give out loans to Co-operative TRUE OR FALSE?
Answer: FALSE
FBQ19: ____________ is needed for everyday uses to keep the business going
Answer: Operating
FBQ20: Once a Society has been registered under the law, it has CANNOT sue and be sued. TRUE OR FALSE
Answer: False
FBQ21: The most important role of __________ in Co-operative affairs is Legislative role
Answer: Government
FBQ22: ___________ manages the day to day activities of the secretariat
Answer: Secretary
FBQ23: All transactions of the Co-operatives do NOT need to be recorded in the books of account. TRUE OR FALSE
Answer: False
FBQ24: _____________ signs cash book and when asked to do so, produces the cash balance
Answer: Treasurer
FBQ25: The ___________________represents the Society at all meetings both within and outside the country.
Answer: President
FBQ26: ___________ cooperatives are producers of goods and/or services
Answer: Producer
FBQ27: __________ are Co-operatives in the service sector
Answer: Service
FBQ28: __________ is a result of joint action by a number of independent primaries and/ or secondaries and/or tertiaries
Answer: Federation
FBQ29: In cooperative, shareholding is to ________ person
Answer: One
FBQ30: ____________cooperatives are smallest individuals units in the set up they cover limited area of operation
Answer: Primary
FBQ31: __________________  are societies usually formed by fishermen
Answer: Fishermen Co-operative Society
FBQ32: Co-operatives with liability limited by ______, is when the joint liability of the member in the event of liquidation is limited to the value of shares held by the member
Answer: Shares
FBQ33: Union Bank of Nigeria Plc is an example of _________
Answer: Public limited companies
FBQ34: ________ is the type of co-operatives where the members have decided to leave all aspects of decision making to management
Answer: Integrated
FBQ35: Owned capital is different from borrowed capital because it is obtained from __________
Answer: Inside the cooperative
MCQ1: There are ________ types of reserve funds
Answer:  Two (2)
MCQ2: ________ takes minutes at all meetings
Answer: Secretary
MCQ3: _____are funds that are created  as a form of security against any unforeseen circumstance
Answer: Reserves
MCQ4: Voting in cooperative is based upon
Answer: membership
MCQ5: ________ reasons constitute the major motive why people join or form Cooperative
Answer: Economic
MCQ6: Some of the common problems faced by agricultural cooperatives in developing countries include the following except
Answer: poor management
MCQ7: A true cooperative is one that
Answer:  provides service at cost.
MCQ8: _______ of the board are called the Co-operative
Answer: Officers
MCQ9: A ________purpose Co-operative is the one that has more than one field of activity
Answer: Multi
MCQ10: ____________ emphasizes the supremacy of the Co-operatives over everything else
Answer: Cooperative spirit
MCQ11: _________is the relationship between a Co-operatives organization as a business entity and members’ private business enterprise or household economy
Answer: Cooperative nexus
MCQ12: ____________ is the degree of extra satisfaction, which a member derives as a result of participating or being a member of the Co-operatives compared to being a non – member
Answer: Cooperative effect
MCQ13: _______ is a signatory to the Society’s accounts
Answer: President
MCQ14: ____________ effect occurs when the total of satisfaction before becoming a member of the Co-operative is higher than the total level of satisfaction after becoming a member
Answer: Negative
MCQ15: _________cooperatives are sometimes they are called National Co-operatives
Answer: Tertiary
MCQ16: ­­­­­­­­­­­­­­­­­________are big organizations whose shares are publicly quoted in the Nigeria Stock Exchange.
Answer: Public limited company
MCQ17: _________ is in charge of all money received by the society from members and other sources.
Answer: treasurer
MCQ18: Different levels of economic development take _______ extreme forms
Answer: Two (2)
MCQ19: ______ are formed mostly by primary Co-operatives
Answer: Secondary
MCQ20: __________are the life-wire of a Co-operative organization
Answer: Byelaws
MCQ21: Members are also known as the_________ of the co-operative
Answer: General Assembly
MCQ22: ________ is characterized by constant movement of family, homestead and economy of the producer
Answer: Nomadic
MCQ23: ________ is the type of co-operatives where the members have decided to leave all aspects of decision making to management
Answer: Integrated
MCQ24: ___________ is a feature of a cooperative
Answer: Voluntary and open membership
MCQ25: Those  items that often remain in the service of the Co-operative over a long period of time are called ____________ capital
Answer: fixed
MCQ26: Through the directive of the president, ____summons all meetings
Answer: Secretary
MCQ27: _________ reserves  are regulated by members taking into consideration their needs and circumstances
Answer:  Voluntary
MCQ28: ______ type of capital that is not consumed in the actual operation of the co-operatives
Answer: Fixed
MCQ29: Secondary cooperatives are sometimes called _______ Co-operatives
Answer: regional
MCQ30: There are  ______ types of producer cooperatives
Answer: Two (2)
MCQ31: The following are common business objectives except_______
Answer: To embezzle funds
MCQ32: Co-operatives are not _________
Answer: trade unions
MCQ33: Democratic control of cooperative is controlled by members themselves through one (1) man, ____ vote
Answer: One (1)
MCQ34: The ______ needs constitute those unfilled desires that lend to drive people into the brink of despair and hopelessness
Answer: Felt
MCQ35: In the _____________ type of business risks are not shared
Answer: Sole proprietorship

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