Types of bank - Jamb Commerce Past Questions and Answers

Question 1:

• JAMB 1994

Commerce is defined as the study of how

A. Man utilizes the resources in his physical environment
B. Man produces, distributes and consumes his goods and services
C. Man buys, sells and distributes goods and services
D. Raw materials are changed into finished goods

Question 2:

• JAMB 2019

First Bank of Nigeria is an example of

A. Commercial bank
B. Central bank
C. Development bank
D. Merchant bank

Question 3:

• JAMB 1997

Commercial banks are referred to as departmental stores of banking because they

A. Have many branches
B. Have many customers
C. Are found in the cities
D. Offer many types of services

Question 4:

• JAMB 1998

The most important difference between community banks and peoples’ bank is that the?

A. Latter is owned solely by government while the former are not
B. Former cater for ruler dwellers while the latter cater for both rural and urban dwellers
C. Former are service oriented while the latter are profit oriented
D. Latter advances loans to the public while former advance loans to the rural dwellers only.

Question 5:

• JAMB 2000

The Central Bank differs from commercial banks because it?

A. Renders service to customers
B. Carries out foreign exchange transactions
C. Issues currencies
D. Discounts bills