NATIONAL OPEN UNIVERSITY OF NIGERIA

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

COURSE CODE:      BFN852                                                          CREDIT UNIT: 3

COURSE TITLE:     PUBLIC FINANCIAL MANAGEMENT

TIME ALLOWED:   2½HOURS

INSTRUCTIONS:     1. Attempt question Number one (1) and any other three (3).

2. Question number 1 is compulsory and carries 25 marks, while  the other questions carry 15 marks each

1a Discuss the purposes of a government budget.   6marks

  b. Discuss five (5) limitations of budgetary control.     5marks

  c. Briefly discuss five (5) reasons for budgetary control.      5marks

  d. Discuss six (6) factors that could influence capital budgeting decisions. 9marks

2a. Briefly discuss eight (8) non-oil revenue sources in Nigeria.     8marks

  b. Briefly discuss seven (7) goods and services that are exempted from Value Added Tax        (VAT).                                                                                                                                                                                                 7marks

3a. Briefly discuss why International Monetary Fund (IMF) is an important financial institution.                                                                      7½marks

  b. Discuss five (5) important sources of fund of African Development Bank (ADB).                                                                                                                        7½marks

4a. Explain the functions of the World Bank.                                                                      5marks

  b. Discuss six (6) reasons why government levy taxes in Nigeria.                                    6marks

  c. Explain the objectives of monetary policies in Nigeria.                                                   4marks

5a. Explain the term Public Debt.                                                                         2marks

b. Discuss four (4) of the measures for effective public debt management in Nigeria. 8marks

c. Discuss five (5) instruments for government intervention in an economy.                5marks

6a. Explain any five (5) principles of public financial management.                      7½marks

  b. Discuss five (5) role of fiscal policy in Nigeria.                                                     ½marks