Banking - Jamb Commerce Past Questions and Answers

Question 31:

• JAMB 2007

The central bank controls the quantity of money in circulation through?

A. Open-market operations
B. Decreasing the tax rate
C. Issuing new currencies
D. Increasing the tax rate

Question 32:

• JAMB 2007

A credit instrument which also serves as a legal tender is?

A. Chegue
B. Paper money
C. Voucher
D. Money order

Question 33:

• JAMB 2008

In order to prevent Liquidity in commercial banks, the central banks uses?

A. Moral suasion
B. Fiscal policy
C. Reserve ratio
D. Taxation

Question 34:

• JAMB 2008

An account maintained with a commercial bank for the purpose of foreign exchange transaction is the?

A. Foreign account
B. International account
C. Domiciliary account
D. Foreign reserves account

Question 35:

• JAMB 2008

A crossed cheque with the inscription 'not negotiable' must be paid into the?

A. Current account of the drawer
B. Current account of the payee
C. Savings account of the payee
D. Fixed account of the payee