BFN104

Category: BFN104

ATTENTION:

Kindly note that you will be presented with 50 questions randomized from the NOUN question bank. Make sure to take the quiz multiple times so you can get familiar with the questions and answers, as new questions are randomized in each attempt.

Good luck!

BFN104

1 / 50

A. The types of money are pure money, token money and __________

2 / 50

B. Monetary policy circular is a booklet published annually by __________

3 / 50

C. The enforcement of the rules and regulation in Nigerian Banking system fall on the ________

4 / 50

D. Money is said to be _________if it could be acceptable in any part of the world.

1. Durability

2. Convertible

3. Homogeneity

4. Portability

5 / 50

E. The directorate of finance and administration is responsible for the management of all of the following except_________

1. Technological development

2. general administration

3. finance of the Institute

4. personnel matters

6 / 50

F. The areas of CBN regulations includes the following except__________

1. Bank Obligations Debtor/Creditor relationship,

2. Capital base statutory reserves

3. bank size distribution

4. Bank staff regulation

7 / 50

G. Industrial and Continental Bank (ICB) was established in __________

1. 1929

2. 1939

3. 1979

4. 1959

8 / 50

H. A __________ is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay, on demand or at a fixed or determinable future time a sum certain in money, to or to the order of a specified person or to bearer.

9 / 50

I. __________is the beneficiary of the proceed of the cheque i.e. the person who will receive the face value of the cheque.

10 / 50

J. The era of ________ was marked by the simple ownership, possession and control of the natural resources

11 / 50

K. Bankers Committee comprise of the __________of all licensed banks in Nigeria

12 / 50

L. Bankers Committee comprise of the__________of all licensed banks in Nigeria and is supervised by the Central Bank of Nigeria (CBN).

1. Treasurers

2. Executive Director

3. Head of Units

4. Chief Executive

13 / 50

M. __________ activities focused on Corporate lending, General Management, Advance finance and Accounting and Corporate Planning

14 / 50

N. Chartered Institute of Bankers came into existence in year _________

15 / 50

O. ________ is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed determinable future time, a sum certain in money to or to the order of a specified person or bearer.

16 / 50

P. _________ is money that is acceptable to the masses on the strength of government imprints on it.

17 / 50

_________ is a type of cheque crossing which has no statutory significant and non-binding on the paying banker and do not affect the transferability or
negotiability of the cheque.

18 / 50

R. __________ is when money is used every second, minute and hour to effect payments all over the world.

1. Divisibility

2. Homogeneity

3. Portability

4. Durability

19 / 50

S. The Bankers Committee came into being in ________

20 / 50

T. A __________is a bank in which the order to pay is directed. It is the paying bank in which order to pay is directed, that is the bank that holds the customer’s money.

21 / 50

U. Manpower development is usually done through all of the following except_________

1. seminars

2. formal (full-time) training in tertiary institutions

3. School reports

4. in-service or part time training

22 / 50

V. The concept of e-money in Nigeria was introduced in _________

23 / 50

W. Banking in Nigeria started in ________ with the establishment of a branch of African Banking Corporation in Lagos

1. 1867

2. 1879

3. 1854

4. 1892

24 / 50

X. The National Secretariat is run on a directorate system under the direct administration of the _______

25 / 50

Y. _________endorsement is one which prohibits further negotiation of the bill

1. Active endorsement

2. Restrictive endorsement

3. Special endorsement

4. Blank endorsement

26 / 50

Z. _________ endorsement is one which prohibits further negotiation of the bill

27 / 50

AA. The fact that there's something that could be acceptable as a medium of exchange for goods and/or services created room for___________

1. specialization.

2. none of the above

3. transportation

4. organisation

28 / 50

AB. The establishment of the___________provided the base for a monetary type of economy in Nigeria

1. none of the above

2. Nigerian Currency Board

3. Central Bank of Nigeria

4. West African Currency Board (WACB)

29 / 50

AC. The era of ___________ was marked by the exchange of goods and services for goods and services within and among the expanding families.

30 / 50

AD. _________is the payee, or endorser of a Bill or Note, who is in possession of it or bearer thereof

31 / 50

AE. The Era of _________ is an era that actually came to resolve of the problems posed by the barter system.

32 / 50

AF. Capacity building has become a major concern of the ___________ industry

33 / 50

AG. The profits of a bank are the portion of its total receipts which include the following except_______

1. Commission

2. discount

3. Share capital

4. interest dividends

34 / 50

AH. The Directorate of Education and Consultancy is made up of all of the following except_________

1. Training

2. Department of Research and Con

3. Department of Examination

4. Administrative Department

35 / 50

AI. The enforcement of the rules and regulation in Nigerian Banking system fall on the ________

36 / 50

AJ. Bankers Committee is supervised by the ________

37 / 50

AK. Micro finance banks source for funds from interest income, deposits&savings and ________

38 / 50

AL. _________ activities focused on Corporate lending, General Management, Advance finance and Accounting and Corporate Planning

1. Financial Institution Training Centre

2. Financial Planning Unit

3. Bankers Committee

4. Micro Finance Bank

39 / 50

AM. The parties to a cheque are all of the following except________

1. the holder

2. the drawee

3. the collecting bank

4. the drawer

40 / 50

AN. ______is the effective deployment of ICT by Banks

1. Investment Banking

2. E-Banking

3. Banking Operations

4. Treasury Operations

41 / 50

AO. _________refers to definitions of a bank and banking business according to abrogated 1969 Banking decree

42 / 50

AP. ___________is simply an irredeemable and inconvertible money that derives its power to circulate from the government backing.

43 / 50

AQ. _________ are those measures taken by the monetary authorities to control the cost, quality and direction of credit to achieve national objectives.

44 / 50

AR. The department of research and consultancy is made up of the following units except___________

1. library unit

2. training unit

3. research unit

4. Consultancy unit

45 / 50

AS. A cheque is ________ where a cheque is specially crossed to a named banker with the addition of the word ‘only.

46 / 50

AT. ________ has the main objective of enhancing the employee’s level of performance as well as make available suitably trained manpower to present and future needs.

47 / 50

AU. _________implies that the money should be capable of being recognized at any time, place by both the adults and children.

1. Portability

2. Cognizeability

3. Durability

4. Homogeneity

48 / 50

AV. _________ is the effective deployment of ICT by Banks

49 / 50

AW. The Bankers Committee came into being in _______

1. 1971

2. 1979

3. 1982

4. 1980

50 / 50

AX. The Chartered Institute of Bankers was registered in 1976 as _________

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