Financial Institutions - Jamb Economics Past Questions and Answers

Question 66:

• JAMB 1997

In commercial banking, an account from which the customer cannot withdraw money instantly is a?

A. Demand deposit account
B. Time deposit account
C. Special deposit account
D. Savings deposit account

Question 67:

• JAMB 1997

Banks can create more money by?

A. Increasing its cash ratio with the Central Bank
B. Issuing more banks cheques
C. Accepting more deposits from customers
D. Lending out money from customers deposits

Question 68:

• JAMB 1997

Stock and shares as well as bonds are examples of instruments used in the?

A. Commodity markets
B. Money markets
C. Capital markets
D. Security markets

Question 69:

• JAMB 1998

One of the techniques of monetary control used by the Central Bank of Nigeria is?

A. Selective credit control
B. Budget deficit
C. Foreign exchange control
D. Monitoring the general price level

Question 70:

• JAMB 1998

If the reserve requirement for commercial banking in Nigeria were 30%, a commercial bank which receives an initial cash deposit of N3000 is in a position to lend out?

A. N9,000
B. N3,330
C. N2,770
D. N2,100