Types And Functions Of Financial Institutions - Economics Jamb Past Questions and Answers

Question 46 :

• JAMB 2002

In Nigeria, the bank that can correctly be described as a unit bank is?

A. The Central Bank
B. People's bank
C. Mortgage bank
D. Community bank

Question 47 :

• JAMB 2002

Insurance companies invest mainly in instruments trade on the?

A. Capital market
B. Money market
C. Commodity market
D. Open market

Question 48 :

• JAMB 2002

The major purpose of African Development Bank is to?

A. Provide loans for trade development
B. Provide loans for infrastructural development
C. Provide loans for develpment banks in distress
D. Educate peasant farmers in new techniques

Question 49 :

• JAMB 2003

Insurance companies, pension and provident funds and unit trusts are all examples of

A. Rural-based revenue mobilizers
B. Non-governmental organisations
C. Government financial agencies
D. Non-bank financial institutions

Question 50 :

• JAMB 2003

The commercial banks differ from non-bank financial institutions because they

A. Accept deposits withdrawable by cheque
B. Mobilize savings
C. Invest surplus funds
D. Contribute to economic development