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JAMB Exam  >  JAMB Tests  >  Test: Financial Institutions - 1 - JAMB MCQ

Test: Financial Institutions - 1 - JAMB MCQ


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10 Questions MCQ Test - Test: Financial Institutions - 1

Test: Financial Institutions - 1 for JAMB 2024 is part of JAMB preparation. The Test: Financial Institutions - 1 questions and answers have been prepared according to the JAMB exam syllabus.The Test: Financial Institutions - 1 MCQs are made for JAMB 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Financial Institutions - 1 below.
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Test: Financial Institutions - 1 - Question 1
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Which of the following financial institutions focuses on accepting deposits and granting loans to individuals and businesses?

Detailed Solution for Test: Financial Institutions - 1 - Question 1

Building societies primarily deal with accepting deposits and providing mortgage loans to individuals for purchasing homes.

Test: Financial Institutions - 1 - Question 2
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A financial institution that provides services related to foreign trade financing, corporate advisory, and underwriting of securities is called a:

Detailed Solution for Test: Financial Institutions - 1 - Question 2

Merchant banks specialize in services related to foreign trade financing, corporate advisory, and underwriting of securities.

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Test: Financial Institutions - 1 - Question 3
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Which type of financial institution primarily deals with the buying and selling of securities?

Detailed Solution for Test: Financial Institutions - 1 - Question 3

Merchant banks focus on the buying and selling of securities.

Test: Financial Institutions - 1 - Question 4
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What is the primary function of a central bank?
Detailed Solution for Test: Financial Institutions - 1 - Question 4

The primary function of a central bank is to regulate the money supply and implement monetary policy.

Test: Financial Institutions - 1 - Question 5
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Which financial institution plays a key role in the regulation and supervision of the banking system?
Detailed Solution for Test: Financial Institutions - 1 - Question 5

Central banks play a key role in regulating and supervising the banking system.

Test: Financial Institutions - 1 - Question 6
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The main function of mortgage banks is to:
Detailed Solution for Test: Financial Institutions - 1 - Question 6

Mortgage banks provide long-term loans for purchasing real estate, particularly for home buyers.

Test: Financial Institutions - 1 - Question 7
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Building societies are primarily involved in:
Detailed Solution for Test: Financial Institutions - 1 - Question 7

Building societies accept deposits and primarily provide mortgage loans for purchasing homes.

Test: Financial Institutions - 1 - Question 8
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Which financial institution specializes in providing coverage against risks and uncertainties?
Detailed Solution for Test: Financial Institutions - 1 - Question 8

Insurance companies specialize in providing coverage against risks and uncertainties.

Test: Financial Institutions - 1 - Question 9
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How do financial institutions contribute to economic development?
Detailed Solution for Test: Financial Institutions - 1 - Question 9

Financial institutions contribute to economic development by providing financial services and mobilizing savings for investment.

Test: Financial Institutions - 1 - Question 10
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Which of the following is NOT a role of financial institutions in economic development?
Detailed Solution for Test: Financial Institutions - 1 - Question 10

Financial institutions do not control the government's fiscal policy, as that falls under the domain of fiscal authorities.

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