TMA3/ECO247

TMA Quiz Questions TMA: TMA3/ECO247 Matric Number:  SCORE=9.50 ECO247 - The Nigerian Economy in Perspective II Mrs. Odishika Vivian Anietem (vodishika@noun.edu.ng ) 1 The history of road transport in Nigeria dated back to 1904 when Lord Lugard attempted the construction of a mule road linking Kano and Sokoto  Zungeru and Kafancha Zaria and Zungeru Zaria and Kaduna 2 The rail road that was laid in 1898 stretched from Ota to Ibadan Iddo to Jebba Iddo to Ota Zaria and Kaduna 3 Building Societies, Hire Purchase companies, Insurance companies, Pension Funds and investment Trust belong to the non-bank financial institutions Commercial sector banking financial institutions Insurance sector 4 The CBN which is the apex regulatory authority of the Nigerian financial system, was established in 1961 1959 1960 1958 5 Which one of these special financial institutions has the development of indigenous enterprises through the granting of loans to small and medium-scale enterprises as its major objective The Nigerian Agricultural Cooperative Bank The Nigerian Bank for Commerce and industry (NBCI)- The Nigerian Industrial development bank Nigeria deposit Insurance Corporation (NDIC) 6 The first motorable road ever constructed in Nigeria is the road linking Sokoto and Katsina Ibadan and Oyo Sokoto and Maiduguri Lagos and Ibadan 7 The activities of seaport development, maintenance and operation in Nigeria are the exclusive monopoly of the Federal Government Local government State government The Pirates 8 One of these is not a service provided by the financial system Facilitation of foreign exchange transactions to exchange foreign trade Financial intermediation Financial investigation Resource mobilization and allocation 9 Commercial, Merchant and Development banks are institutions in the Commercial sector Insurance sector banking sector non-bank financial institutions 10 The CBN performes the following functions except one Issuing legal tender currency Ensuring and fostering monetary stability Maintaining the value of domestic currency Grant loan advances and overdrafts to customers 11 Which National development plan allocated N278.840 million of the total vote for the transport sector to road development? The first National Development Plan of 1968-1972 The first National Development Plan of 1962-68 The Second National Development Plan of 1974-1979 The Second National Development Plan of 1970-1974 12 Colonial administrators in West Africa introduced railways as far back as the late 19th century in order to Promote unity in the country  Provide routes for easy evacuation of cash crops from seaports to European ports Develop the country Create employment for the citizens 13 West Africa Airways Corporation (WAAC) was jointly owned by all of these countries except Nigeria Ghana Sierra-Leone Liberia 14 The Nigerian financial system consists of all of these except Central Bank of Nigeria (CBN) Federal Ministry of Finance (FMF) Nigeria Bank of Industry Security Exchange Commission (SEC) 15 The SEC was established as the apex regulatory organ of the Capital market Commodity market Money market Foreign exchange market 16 The major problems of road development in Nigeria can be traced to all of these except Resources constraint Attitude of the people staying near the roads to be developed Long distances and difficult terrains that make road construction an expensive project Harsh and extreme climatic conditions 17 Seaports in Nigeria increased from 2 in 1960 to 10 by 1982 8 by 1983 8 by 1982 10 by 1983 18 Financial institutions are institutions which serve the purpose of channeling funds from Lenders to borrowers From one friend to another Bankers to debtors Government to citizens 19 Financial institutions can be broadly classified into two Credit and Debit financial institutions Non-bank and Credit financial institutions Bank and Credit financial institution Bank and non-bank financial institutions 20 The following are examples of short term securities, except ? Debenture stocks Bankers unit fund Call money Treasury certificate