| the primary functions of money includes: money as a unit of value and……………….. |
| Historically, …….. used coins as money |
| The disadvantages of using other assets to function as store of value include the following |
| The approaches of the classical theory of demand for money are the cambridge and |
| The Cambridge economists show K in the cambridge equation as the reciprocal of ………………. |
| Financial dualism is a feature of the demand for money in …………………..countries |
| In keynesian theory, active cash balances comprised transactions demand for money and ………. |
| Idle cash balances relate to the demand for money for |
| The approaches of money supply include the following except |
| During Inflation, ………. gains. |
| Prior to the evolution of money, trade was based on the ____________ |
| Therefore, a barter economy can be regarded as a simple and______ |
| Barter transaction also deals with exchange of physical goods for some _________ |
| One defect of _______ is that it was too heavy and therefore large sums of money cannot be carried easily |
| The use of near money is the adoption of __________ as means of payment in business transaction |
| As time passed by, buyers of commodities pay sellers with the ________ |
| The development of paper money started with goldsmiths who kept strong safes to ________ |
| In Nigeria, ________ are issued by the CBN |
| Various types of commodities were used as money at the beginning of _________ |
| The increase in money supply after the full employment level leads to…………. |
| market driven exhange rate system is also known as ……………………. |
| the following factors affect the exchange rate of a country except….. |
| the objectives of foreign exchange control include the following except……… |
| the act of fixing of the value of a currency at a rate higher than the free market rate is called…. |
| money supply approaches include |
| The finacial assistance given to industries producting exportable goods is refered to as…….. |
| Change in interest rate, import restrictions, and export subsidies constitute…………….. |
| A firm commitment by the manager to lend at specific terms with the right to participate the loan out at .a later date is called |
| A market where united states dollars deposited in banks located outside the country of issue are traded is called |
| Jaiz bank Limited is an example of………….. |
| The important quantative methods of credit control include the following except |
| Selective method of credit control in international banking is also known as |
| BOI means |
| Credit side of balance of payment shows all payments to be received from abroad and debit side shows |
| According to international monetary fund , the current account of the balance of payments include but |
| ……. refers to the policy of reducing the quantity of money in order to reduce the prices |
| The difference between the value of visible exports and imports of a country is called |
| The official reduction of the external values of a currency is referred to as |
| The following are reasons for disequilibrium in the balance of payments of a country |
| BOP is favourable when there is excess of…….. |
| Bankers Acceptances represent a flexible and efficient means of obtaining ……………. |
| the uniform rules of collection brochure no . 322 is prepared by International chamber of |
| URC specified that partial payment may not be accepted as a condition of release of documents unless authorised |
| UCC as applied in international payments means……… |
| A manager’s cheque is stale when it is presented for payment after…….. |
| the three parties to a cheque are payee, drawee and ….. |
| Traveler’s cheques are instruments having the features of a cash sustitute which offers the security of a |
| Liability for a personal cheque may be shifted onto the bank as regards third parties through the procedure of …… |
| The system where by one currency is exchanged for or converted into another is called |
| participants of foreign exchange market include the following |
| Arbitration has come to be accepted in the settlement of insurance disputes. In fact a provision that the award of an arbitrator is a condition precedent to the enforcement of any rights under the contract was affirmed in |
| Except illegality or criminal conduct is disclosed, insurers are not at liberty to cherrypick which claims or judgments to satisfy or discharge, pursuant to |
| The principle of contribution which is the right of the insurer to call upon other insurers, in the case of over insurance by double insurance, to contribute their share of the loss to the insurer is traceable to equitable principle of |
| The enforcement of the principle contribution is premised on the satisfaction of certain conditions, which are |
| When it is said that contracts of insurance are contracts of uberrimae fidei (good faith), it simply imputes as between the parties, the insurer and assured |
| One of the cardinal principles of insurance is that the insured cannot recover over and above his own loss. Confirmed by Lorrd Cairns in Simpson v Thomson (1877) 3 AC 279 at 284, it has come to be known as the doctrine of |
| Generally, insurance policy is a personal contract and by reason of this does not run with the subject matter of insurance. In order to overreach this rule, there must be a valid |
| Mr A insured his house. The house was destroyed by fire and this fact is known to the insurers. The insurers are ready to pay or rebuild the house. What other factor should the insurers consider before taking steps to pay or rebuild |
| By section 56 Insurance Act 2003, an insurance policy is null and void in the absence of insurable interest. However, in the case of life policy such interest exists where there is legal relationship, which has been rendered to include |
| The Boat Club took insurance over several of its speed boats. During turbulence one of the boats suffered a wreck. The insurance company on being notified indemnified the Club to the full value. However, a member made a gift to the Club. The insurers protested. Which authority supports their case |
| market driven exhange rate system is also known as ……………………. |
| ………is described as a variety of the red clause offering more protection to the buyer under Letter of credit arragement |
| ………. are instruments having the features of a cash substitute which offers the security of a cashier’s cheque |
| the act of fixing of the value of a currency at a rate higher than the free market rate is called…. |
| Foreign exchage controls can be classified into two broad ways……………… |
| the rate at which the future contract for foreign currency is made is described as …….. |
| Change in interest rate, import restrictions, and export subsidies constitute…………….. |
| A firm commitment by the manager to lend at specific terms with the right to participate the loan out at .a later date is called |
| A market where united states dollars on deposit in banks located outside the country of issue are traded is described as |
| when the exchange rate of a country’s currency reduces without the conscious intervention of the governement it is called |
| Which of the following is not a type of life assurance policy |
| A party took insruance cover for safe arrival of a ship on which he has no consignment. The contract was held to be a wagering contract and was therefore void for absence of insurable interest in the case of |
| The overriding essence of the principle of insurance is |
| Theunrivaled forerunner of every specie or class of insurance, chiefly and for the most part undertaken in a coffee shop is |
| The apex regulator of the insurance business in Nigeria is known as |
| Save as authorised under the law, no person shall commence or carry on any class of insruance business in Nigeria. This provision as to capacity to engage in insurance business can be found in |
| One of the bases by, or on account of, which the Commission may refuse registration of a company to engage in insurance business is |
| Without doubt the Nigerian business climate has been liberalised with great assurances to investors, Nigerians and Non Nigerians. However, this does not mean that there is unfettered liberty here. In fact under certain circumstances the right can be curtailed and even lost, especially in relation to the insurance business. Consequently, the registration of an insurance company may be lost by cancellation if |
| The following is a characteristic or feature of an insurance contract, except |
| The major difference between an insurance contract as against a wagering contract is that, apart from his stake, the latter has no |
| Under the Nigerian Insurance Act 2003, there are two main classes of insurances, namely life insurance business and |
| The legislative instrument with the purpose of protecting Nigerian families from financial hardship of huge medical bills and other related matters is called |
| One word for the insurance contract is called |
| The process of evaluating or measuring the risk exposure to potential clients and on this basis determining the premium payable to insure or cover that risk is called |
| Save one, the following constitute the secondary functions of insurance: |
| The contents of an agreement for an insurance policy consists of the nature of the risk, duration of the risk covered and the amount to be paid, otherwise known as |
| The temporary cover which the insurance companys makes out to enable it satisfy itself and come to a decision whether to accept or decline the risk to be insured is called |
| The case of Central Bank of India v Guardian Assurance Co (1936) 54 LLLR 247 where the claim figure was balooned nearly hundred times the actual value of loss is an example of |
| Insurance contracts of indemnity, per Brett in Castellain v Preston (1883) 11 QBD 380; but on the authority of Holmes v Payne (1950) 2 KB 301 the insurer and the insured can validly execute |
| The business of insurance is a serious one. In confirmation of this, every insurance must settle a claim within ninety days following the issuance of discharge voucher, failing the Commission on the application of the insured may make the payment from |
| market driven exhange rate system is also known as ……………………. |
| ………is described as a variety of the red clause offering more protection to the buyer under Letter of credit arragement |
| ………. are instruments having the features of a cash substitute which offers the security of a cashier’s cheque |
| the act of fixing of the value of a currency at a rate higher than the free market rate is called…. |
| Foreign exchage controls can be classified into two broad ways……………… |
| the rate at which the future contract for foreign currency is made is described as …….. |
| Change in interest rate, import restrictions, and export subsidies constitute…………….. |
| A firm commitment by the manager to lend at specific terms with the right to participate the loan out at .a later date is called |
| A market where united states dollars on deposit in banks located outside the country of issue are traded is described as |
| when the exchange rate of a country’s currency reduces without the conscious intervention of the governement it is called |
| …energy is generated when the molecules that make up an object move faster |
| …energy is used to cook our food, heat our homes and generate electricity. |
| Thermal energy is a form of … energy, which is the energy due to motion |
| Soup is heated up in the pot by the process of … |
| The rural communities especially rely on …for cooking their food. |
| Thermal energy provides continuous, reliable energy that is not dependent on the… |
| Light energy is the energy carried by… |
| Light energy range from very low to extremely high frequency … |
| Light is the only wave that can travel though a … |
| Theoretically, light energy has no … |
| All these are sources of light energy except… |
| Glowworms, jellyfish, foxfire are classified as … |
| In the absence of light energy …cannot take place |
| Protons and neutrons are collectively called… |
| The famous equation: E = mc2 is attributed to… |
| In every nuclear fission …is produced along with energy. |
| When two or more light nuclei combine to form a heavier nucleus with the release of a large amount of energy,…occurs. |
| Many nuclear power plants are now being used to generate cheap … |
| … from nuclear energy plants are used in agriculture as radioactive tracers and preservatives |
| Uranium from which nuclear energy is generated is found everywhere in the crust of the Earth, hence it is … |
| Because little amount of … is needed to produce more nuclear energy as compared to traditional sources, it is very cheap. |
| Nuclear energy is… |
| …is a natural phenomenon which measures the degree of randomness or disorderliness in a system. |
| From this equation :ΔS = (ΔH-ΔF)/T , ΔS stands for… |
| …is a colourless, odourless and tasteless gas that is formed when carbon in fuel is not burned completely. |
| All these are pollutants except… |
| All these are greenhouse gases except… |
| … is a triatomic oxygen molecule that is harmful to breathe. |
| Ozone depletion can result into all these except… |
| … is formed when Sulphur dioxide and oxides of Nitrogen are emitted into the environment by combustion of fossil fuels. |
| Which of these factors is not concerned with Corporate level strategy ? |
| The role of the board of directors in strategic management is to carry out three basic tasks which excludes; |
| CEOs are able to command respect and to influence strategy formulation and implementation because they tend to have three key characteristics which include; |
| These are the purely voluntary obligations a corporate assumes, such as philanthropic contributions |
| This approach to ethical behaviour proposes that actions and plans should be judged by their consequences |
| The case study method of learning is used to develop in the manager or potential manager the following skills but…………. |
| Which of these is not among the 5 C’s of Marketing can be summarized by Milne (2010)? |
| This measures the results of activities, compares them against predetermined objectives and takes corrective action if necessary |
| This is a statement of what may, must or must not be done in a particular situation or when playing a game |
| Characteristics of Objectives includes all of these except; |
| The three major viewpoints regarding setting criteria for decision-making does not include; |
| Which of these concepts is of the view that the behavior of a firm is complex and the process of decision-making is contiually evolving? |
| Creativity as a trait is normally associated with individuals and is sought to be developed through techniques such as; |
| The schools of thought under Strategy formation can be classified under three groups which include all of these except; |
| Which of these is the configuration school where strategy formation is a process of transformation? |
| Which of these schools perceives strategy as the outcome of a personal and unique perspective often aimed at the creation of a niche? |
| Which of these is not a phase in Strategic Management? |
| Performing strategic evaluation and control involves…………….. |
| For the implementation of a strategy, the strategic plan is put into action through six sub-processes which includes; |
| Which of these organizational roles is considered to be a relatively recent phenomenon? |
| Sources of policy includes all of these except………………. |
| When useful policies are developed from the actions which employees see about them, it is referred to as ………….. |
| Policy documents generally contain certain standard components which includes all of these except; |
| Which of these components of a policy document outlines why the organization is issuing the policy? |
| Who is regarded as an important contributor to advance planning and policy formulation in large organizations? |
| According to Kalejaye (1998), Policy formulation involves some definite steps which includes; |
| These policies are broad and general policies formulated at the upper levels of management of the organization |
| This is a statement of what may, must or must not be done in a particular situation or when playing a game |
| The behavior of the business policy command is determined by …………………. |
| This type of business policy defines the relationship between a proxy store and a remote store. |
| …energy is generated when the molecules that make up an object move faster |
| …energy is used to cook our food, heat our homes and generate electricity. |
| Thermal energy is a form of … energy, which is the energy due to motion |
| Soup is heated up in the pot by the process of … |
| The rural communities especially rely on …for cooking their food. |
| Thermal energy provides continuous, reliable energy that is not dependent on the… |
| Light energy is the energy carried by… |
| Light energy range from very low to extremely high frequency … |
| Light is the only wave that can travel though a … |
| Theoretically, light energy has no … |
| Weakness in grievance procedure is usualy as a result of |
| A very popular method of handling grievances in organization is the …………………………….. |
| Efficiency, speed , perceived fairness and devlopment of organizational culture are the advantages of……………. |
| Effective collective bargaining requires the presence of the following conditions except……. |
| Centralised system of collective bargaining has many adavantages which includes………………… |
| One of these can take place where there is bargaining impasse |
| Which of these is considered to be the final level of settlement in bargaining? |
| Organizational exit takes different forms and this excludes ……………… |
| Which of these can tell you a lot more about your organization? |
| The need for redundancies should be related to………………………… |
| Which of these is considered the simplest method of evaluating a job ? |
| Some advantages of paired comparison includes………………. |
| Which of these is the largest cost item in labour intensive organizations? |
| A collection of data on compensation rates for workers performing similar jobs is referred to as ……. |
| Factors that determine perceived fairness rewards does not include………………….. |
| Which of these factors does not influence pay and material reward system? |
| In many organizations , collective bargaining is between………………………. |
| What is profit sharing? |
| Conflict is perceived as disruptive and unnatural and can be explained by all of these but……………………………. |
| Which of these perspectives believes that all members of the organization have the same interest? |
| What is central to effective staffing? |
| The roles of an employer includes all of these except……………….. |
| Which of these is not a benefit of career planning? |
| Welfare services includes |
| The total responsibilty for training is shared in organization among all of these except…………….. |
| Which of these involves increasing the skill base of people by arranging supervised projects? |
| When an exprienced line manager transfers knowledge and skills to a less experienced person , it is referred to as ………. |
| Davis (1977) identified four motive patterns that are significant and these does not include…………….. |
| Advancement motivation refers to …………………….. |
| When messages are misinterpreted, having passed through long distance and several people, it is referred to as ? |
