Question 1 of 20 4,313 total questions
Mr Ojo borrowed N54,000 from a Commercial bank and deposited his life assurance certificate with the bank. The certificate deposited serves as?
A a loan repayment
B a current asset
C an interest charged
D a collateral society
E a part of payment
Which of the following is formed primarily to promote savings and loans among members?
A Consumers co-operative society
B producer co-operative society
C Co-operative wholesale soceity
D Retail Co-operative society
E Co-operative thrift and credit society
A cheque drawn by a bank on itself is a?
A credit transfer
B direct debt
C certified cheque
D bankdraft
A cheque drawn by a bank on itself is a?
A credit transfer
B direct debt
C certified cheque
D bankdraft
Which of the following regulates and controls the activities of the Nigerian Stock Exchange?
A Central Bank
B Association of Commercial Banks
C Securities and Exchange Commission (SEC)
D Nigerian Association of Chambers of Commerce
E Brokers and Jobbers
Which of the following regulates and controls the activities of the Nigerian Stock Exchange?
A Central Bank
B Association of Commercial Banks
C Securities and Exchange Commission (SEC)
D Nigerian Association of Chambers of Commerce
E Brokers and Jobbers
Which of the following is a non- indemnity insurance?
A Marine
B Life
C Fire
D Bad debts
E Burglary
Selling a bill in less than the face of the value for immediate cash before the due date is to?
A retire the bill
B honour the bill
C discount the bill
D protest the bill
E withdraw the bill
Which of the following is not a feature of good banking security? The
A asset must be easily converted into cash
B value of the asset must be easily ascertained
C ownership of the asset must be in doubt
D value of the asset should be stable
E value of the asset must less than the amount loaned
Which of the following policies qualifies the holder to income to income tax relief?
A Accident insurance
B Public liability insurance
C Comprehensive insurance
D Endowment assurance
E Fidelity guarantee insurance
Which of the following is not true of insurance?
A A large number of people face the same risk
B Possibility of making a profit out of an event
C only a small number will actually suffer the loss in any one year
D A large making makes a small contribution to common pool
E Possibility of assessing the frequency of occurrence of the event
Which of the following belongs to the capital market?
A Commercial bank
B Savings bank
C Stock exchange
D Bureau de change
E Clearing house
Which of the following is not true of insurance?
A A large number of pecple face the same risk
B A Possibility of making profit out of an event
C only a small number will actually suffer the loss in any one year
D A large number makes a small contribution to a common pool
E Possibility of assessing the frequency of occurrence of the event
Which of the following belongs to the capital market?
A Commercial bank
B Savings bank
C Stock exchange
D Bureau de change
E Clearing house
Another name for shares, stocks and debentures traded in the stock exchange is?
A collateral
B securities
C wares
D partcipating`preference shares
E cumulative preference shares
Terms of trade refers to?
A agreement between two trading countries
B conditions attached to specific trade transaction
C the relationship between export and import prices
D , the difference between the value imports and exports
E all payments made-to other countries and receipts from them
Which of the following documents is used when goods are sent on approval?
A Catalogue
B Delivery note
C Receipt
D Advice note
E Pro forma invoice
A retailer who receives a trade discount of 33‘/3% and a cash discount of 10% on goods worth N360 would pay?
A N240
B N226
C N216
D 204
E 120
When a seller decides to sell his goods at a specific price for a specific period, he is making?
A a sales promotion
B a bid
C an auction sale
D a firm offer
E an implied guarantee
When the balance of trade is unfavourable which of the following conditions prevails?
A Exports exceed imports
B Imports exceed exports
C Customs duty is high
D lnvisible exports exceed visible imports
E The value money falls
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