Financial Institutions - Jamb Economics Past Questions and Answers

Question 26:

• JAMB 1979

which of the financial institutions cannot direct tax loans to individuals?

A. The agricultural bank
B. The Industrial bank
C. The central bank
D. The Co-operative bank
E. The Standard bank

Question 27:

• JAMB 1980

Which is NOT a function of Central Bank in West Africa

A. Dealing in foreign exchange
B. Issuing of currency
C. Accepting deposit from private customers
D. Acting as government bank
E. Acting as bankers bank

Question 28:

• JAMB 1980

Commercial banks can create money in the following ways?

A. By using coins and paper money
B. By borrowing money from banks abroad
C. By receiving deposit from individuals
D. By printing money on the instruction of the central bank
E. None of the above

Question 29:

• JAMB 1980

A commercial bank is able to create money

A. By printing it
B. By maintaining reserve
C. By creating a demand deposit as it gives a new loan
D. By issuing cheques to depositors
E. By borrowing from the central bank

Question 30:

• JAMB 1980

Which of the following is NOT a function of Nigeria commercial Banks?

A. Acceptance of deposit
B. Lending of money
C. Investment in securities and business
D. Issue of currency
E. Selling and buying of travellers cheques