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NATIONAL OPEN UNIVERSITY OF NIGERIA

UNIVERSITY VILLAGE, PLOT 91, CASDASTRAL ZONE, NNAMDI AZIKIWE EXPRESS WAY, JABI, ABUJA.
FACULTY OF MANAGEMENT SCIENCES
JULY 2018 EXAMINATION

Course Code: BFN301                                                                     

Credit Unit: 3.

Course Title: PRACTICE OF BANKING

Time Allowed: 3 HOURS

Instructions:

1. Attempt Question 1 and any other three (3) Questions.

2. Question 1 is compulsory and carries 25 marks while the other 3 Questions carry 15 marks each.

                        3. Present all your points in a coherent and orderly manner.

1a. The relationship between banker and customer can be that of Bailor and Bailee. Explain the term Bailment. Differentiate between a Bailor and a Bailee.                                     (10 marks)

1b. The paying banker is one who undertakes to pay various types of instruments representing money on behalf of his customer or his own behalf from the drawers of such instruments. For an order to constitute 'payment in due course', the paying banker must see that some conditions are fulfilled. As a banking student, clearly discuss the three (3) conditions involved.      (6 marks)

 

1c. The Central Bank of Nigeria (CBN) was primarily established to perform some basic roles as well to meet some intended economic policy objectives. State the four basic roles and four economic policy objectives of the CBN.                                                                        (9 marks)

 

2a. Prior to accepting debentures issued by a company as collateral securities for advancing money, it is necessary for the bank to take the relevant steps to ensure the protection of its own interest. Discuss such five steps.    (10 marks)

2b. Explain five statutory functions of Bank of Agriculture (BOA).                                    (5 marks)

 3a. The duty to maintain secrecy is not absolute, but qualified. Discuss succinctly the four conditions under which a bank can disclose customer’s information.                (10 marks)

3b. Explain the term Banker’s lien.      (5 marks)

4a. Explain the term Pledge. Discuss three (3) essential features of a pledge.            (7 marks)

4b. Discuss succinctly the four requirements of negotiability of Negotiable Instruments.

(8 marks)

5a. Discuss five circumstances under which a banker is justified in refusing payment of a cheque drawn on it.     (10 marks)

5a. Explain five types of Mortgages.       (5 marks)

6a. Explain six (6) factors that can lead to bankruptcy in banking industry.             (9 marks)

6b. Clearly identify three ways in which the debtor-creditor relationship of banker and customer differs from other commercial debts. (6 marks)


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