Banking Law – NBC Institute

BL – May 2012 – L1 – SA – Q7 – Negotiable Instruments

Identifying conditions under which a bank may be excused from paying a customer's cheque.

Question

A bank may be excused from the obligation to pay a customer’s cheque EXCEPT when:

A. There is an unsigned alteration on the cheque
B. The cheque is stale
C. The drawer’s death comes to the notice of the bank
D. The bank does not have enough cash
E. There is an effective countermand

Answer

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Tags: Banking Law, Business Law, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: MAY 2012

BL – Nov 2011 – L1 – SA – Q10 – Law Relating to Banking

Identifying the apex bank in Nigeria that issues monetary policy circulars.

Question

The apex bank in Nigeria that issues Monetary Policy circulars is ………………………

Answer

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Tags: Banking Law, Central Bank, Monetary Policy
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q7 – Law Relating to Banking

Identify the threshold at which a financial institution must report to the EFCC.

Question

A financial institution has the duty to report to the Economic and Financial Crimes Commission (EFCC) within seven days of lodgement by an individual of an amount exceeding:
A. N100,000,000
B. N10,000,000
C. N5,000,000
D. N2,500,000
E. N1,000,000

Answer

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Tags: Banking Law, EFCC Reporting, Financial Institution
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2011

BL – May 2013 – L1 – SA – Q10 – Law Relating to Banking

This question tests the number of days required for a financial institution to report large transfers to the EFCC.

Question

How many days are required for a financial institution to report to the Economic and Financial Crimes Commission the transfer of funds in excess of N10 million by an individual?

A. 5
B. 6
C. 7
D. 10
E. 30

Answer

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Tags: Banking Law, EFCC, Financial Transactions
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2013

BL – May 2014 – L1 – SB – Q6 – Negotiable Instruments

Discussing characteristics of negotiable instruments and banker duties.

Question

a. “A Negotiable Instrument must express clarity in the instruction on the instrument without any ambiguity”. Explain TWO characteristics of a Negotiable Instrument. (4 Marks)

b. The relationship between the banker and his customer is said to be the relationship between a debtor and a creditor. You are required to state FIVE duties of a banker to its customer. (5 Marks)

c. A testator that has made a Will can only revoke it under certain circumstances. Explain THREE ways by which a Will may be revoked. (6 Marks)

Answer

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Tags: Banking Law, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: MAY 2014

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Question on identifying the person in whose favour a Bill is drawn.

Question

The person in whose favour a Bill is drawn, is known as ………………………….

Answer

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Tags: Banking Law, Bills of Exchange, Holder, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q17 – Law Relating to Banking

Question about the body responsible for regulating monetary policy in Nigeria.

Question

The body that regulates the monetary policy in Nigeria is the ………………………….

Answer

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Tags: Banking Law, Monetary Policy, Nigerian Economy, Regulation
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Identifies the feature that makes a cheque generally crossed.

Question

A cheque is said to be generally crossed if it

A. Bears two parallel lines across its face
B. Is not dated
C. Is not signed
D. Is not stamped
E. Has two postage stamps on it

Answer

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Tags: Banking Law, Cheques, General Crossing, Multiple Choice
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2013

BL – Nov 2015 – L1 – SA – Q20 – Law Relating to Banking

Identifying non-functions of the Central Bank of Nigeria.

Question

Which of the following is NOT a function of the Central Bank of Nigeria?
A. Issuing and distribution of Nigerian currency
B. Issuing and dealing in shares and debentures
C. Management of Nigeria’s external reserves
D. Promotion of monetary stability
E. Banker and financial adviser to government

Answer

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Tags: Banking Law, Central Bank, Financial Functions, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2015

BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

Question

Under the Money Laundering (Prohibition) Act, the maximum sum of money that an individual may deposit in a bank account without further obligation is
A. N700,000
B. N800,000
C. N900,000
D. N500,000
E. N1,000,000

Answer

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Tags: Banking Law, Legal Limits, Money laundering, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2015

BL – May 2012 – L1 – SA – Q7 – Negotiable Instruments

Identifying conditions under which a bank may be excused from paying a customer's cheque.

Question

A bank may be excused from the obligation to pay a customer’s cheque EXCEPT when:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Business Law, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: MAY 2012

BL – Nov 2011 – L1 – SA – Q10 – Law Relating to Banking

Identifying the apex bank in Nigeria that issues monetary policy circulars.

Question

The apex bank in Nigeria that issues Monetary Policy circulars is ………………………

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Central Bank, Monetary Policy
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2011

BL – Nov 2011 – L1 – SA – Q7 – Law Relating to Banking

Identify the threshold at which a financial institution must report to the EFCC.

Question

Answer

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Tags: Banking Law, EFCC Reporting, Financial Institution
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2011

BL – May 2013 – L1 – SA – Q10 – Law Relating to Banking

This question tests the number of days required for a financial institution to report large transfers to the EFCC.

Question

How many days are required for a financial institution to report to the Economic and Financial Crimes Commission the transfer of funds in excess of N10 million by an individual?

A. 5
B. 6
C. 7
D. 10
E. 30

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, EFCC, Financial Transactions
Level: Level 1

Topic: Law Relating to Banking
Series: MAY 2013

BL – May 2014 – L1 – SB – Q6 – Negotiable Instruments

Discussing characteristics of negotiable instruments and banker duties.

Question

a. “A Negotiable Instrument must express clarity in the instruction on the instrument without any ambiguity”. Explain TWO characteristics of a Negotiable Instrument. (4 Marks)

b. The relationship between the banker and his customer is said to be the relationship between a debtor and a creditor. You are required to state FIVE duties of a banker to its customer. (5 Marks)

c. A testator that has made a Will can only revoke it under certain circumstances. Explain THREE ways by which a Will may be revoked. (6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: MAY 2014

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Question on identifying the person in whose favour a Bill is drawn.

Question

The person in whose favour a Bill is drawn, is known as ………………………….

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Bills of Exchange, Holder, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q17 – Law Relating to Banking

Question about the body responsible for regulating monetary policy in Nigeria.

Question

The body that regulates the monetary policy in Nigeria is the ………………………….

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Monetary Policy, Nigerian Economy, Regulation
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Identifies the feature that makes a cheque generally crossed.

Question

A cheque is said to be generally crossed if it

A. Bears two parallel lines across its face
B. Is not dated
C. Is not signed
D. Is not stamped
E. Has two postage stamps on it

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Cheques, General Crossing, Multiple Choice
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2013

BL – Nov 2015 – L1 – SA – Q20 – Law Relating to Banking

Identifying non-functions of the Central Bank of Nigeria.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Central Bank, Financial Functions, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2015

BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Legal Limits, Money laundering, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2015

Question Tag: Banking Law

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BL – May 2012 – L1 – SA – Q7 – Negotiable Instruments

Identifying conditions under which a bank may be excused from paying a customer's cheque.

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BL – Nov 2011 – L1 – SA – Q10 – Law Relating to Banking

Identifying the apex bank in Nigeria that issues monetary policy circulars.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q10 – Law Relating to Banking"

BL – Nov 2011 – L1 – SA – Q7 – Law Relating to Banking

Identify the threshold at which a financial institution must report to the EFCC.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q7 – Law Relating to Banking"

BL – May 2013 – L1 – SA – Q10 – Law Relating to Banking

This question tests the number of days required for a financial institution to report large transfers to the EFCC.

You're reporting an error for "BL – May 2013 – L1 – SA – Q10 – Law Relating to Banking"

BL – May 2014 – L1 – SB – Q6 – Negotiable Instruments

Discussing characteristics of negotiable instruments and banker duties.

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BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Question on identifying the person in whose favour a Bill is drawn.

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BL – Nov 2013 – L1 – SA – Q17 – Law Relating to Banking

Question about the body responsible for regulating monetary policy in Nigeria.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q17 – Law Relating to Banking"

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Identifies the feature that makes a cheque generally crossed.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments"

BL – Nov 2015 – L1 – SA – Q20 – Law Relating to Banking

Identifying non-functions of the Central Bank of Nigeria.

You're reporting an error for "BL – Nov 2015 – L1 – SA – Q20 – Law Relating to Banking"

BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

You're reporting an error for "BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking"

BL – May 2012 – L1 – SA – Q7 – Negotiable Instruments

Identifying conditions under which a bank may be excused from paying a customer's cheque.

You're reporting an error for "BL – May 2012 – L1 – SA – Q7 – Negotiable Instruments"

BL – Nov 2011 – L1 – SA – Q10 – Law Relating to Banking

Identifying the apex bank in Nigeria that issues monetary policy circulars.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q10 – Law Relating to Banking"

BL – Nov 2011 – L1 – SA – Q7 – Law Relating to Banking

Identify the threshold at which a financial institution must report to the EFCC.

You're reporting an error for "BL – Nov 2011 – L1 – SA – Q7 – Law Relating to Banking"

BL – May 2013 – L1 – SA – Q10 – Law Relating to Banking

This question tests the number of days required for a financial institution to report large transfers to the EFCC.

You're reporting an error for "BL – May 2013 – L1 – SA – Q10 – Law Relating to Banking"

BL – May 2014 – L1 – SB – Q6 – Negotiable Instruments

Discussing characteristics of negotiable instruments and banker duties.

You're reporting an error for "BL – May 2014 – L1 – SB – Q6 – Negotiable Instruments"

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Question on identifying the person in whose favour a Bill is drawn.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments"

BL – Nov 2013 – L1 – SA – Q17 – Law Relating to Banking

Question about the body responsible for regulating monetary policy in Nigeria.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q17 – Law Relating to Banking"

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Identifies the feature that makes a cheque generally crossed.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments"

BL – Nov 2015 – L1 – SA – Q20 – Law Relating to Banking

Identifying non-functions of the Central Bank of Nigeria.

You're reporting an error for "BL – Nov 2015 – L1 – SA – Q20 – Law Relating to Banking"

BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking

Legal limit for bank deposits without further obligations under the Money Laundering Act.

You're reporting an error for "BL – Nov 2015 – L1 – SA – Q9 – Law Relating to Banking"

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