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

Question 6 :

• JAMB 2016

Which of the following is NOT among the financial institutions in Nigeria?

A. Federal Mortgage Bank
B. Microfinance Banks
C. Insurance Banks
D. Federal Ministry of Finance

Question 7 :

• JAMB 2015

The financial institution known as a building society is

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

Question 8 :

• JAMB 2015

A commercial bank can create money by

A. Issuing currency
B. Increasing cash ratio
C. Issuing cheque
D. Lending to borrowers

Question 9 :

• JAMB 1978

A commercial bank is unique in that it is the only institution that

A. Makes loans to private people and businessmen
B. Accept deposits
C. Can store peoples' valuables
D. Can transfer money from one place to another for its customers
E. Saves money through the granting of credits

Question 10 :

• JAMB 1978

Which of the following can be regarded as a liability of a commercial bank?

A. Advances
B. Deposits
C. Treasury bills
D. Overdrafts
E. Cash