BANKING OVERVIEW

Which statement best describes 'banking'?

• A financial institution where money is borrowed and kept safe.

• A financial institution that accepts deposits and lends the same to earn a profit.

• A financial institution that transacts and transmits money and exchanges financial information to earn profit.

• I'm not very sure

Which of the following is not a commercial bank?

• Zenith bank

• Bank of Industry

• Sun Trust Bank

• Union Bank

• I'm not so sure

What is the full meaning of CBN?

• Central Banking Networks

• Communicate with Banks in Nigeria

• Cooperative Banks of Nigeria

• Central Bank of Nigeria

• I'm not so sure

Do you know the meaning of NEFT?

• National Electronic Funds Transfer

• Network in Electronics, Finance and Technology

• Nigerian Evaluation and Financial Trade.

• National Empowerment For Traders

• I'm not so sure

What is the purpose of a cheque?

• It allows you to access the funds available in your account either from an ATM or a point of sale.

• It is an order addressed to a banker, signed by the account holder requesting the Bank to pay on demand.

• It is a tender used in commercial banks to request advances and extend loans.

• It is a draft given by the bank to a customer to deposit funds.

A dormant account is ___

• an account operated as domiciliary

• an account owned by a dorm

• an account that is still in operations after a period of 6 months

• an account that no transactions happens for more than 6 months

• I'm not so sure

What can make a cheque to bounce?

• Insufficient funds or signature mismatch

• An angry customer that yells

• A rude teller that throws tantrums

• Unlicensed cheque by the bank

• I'm not so sure

Which of these is not one of the objectives of Central Bank?

• to issue legal tender currency in Nigeria

• to maintain external reserves and safeguard the international value of the currency

• to provide and print new notes for party planners

• to provide economic and financial advice to the Federal Government

• I'm not so sure

When you 'Know Your Customer' and their use of your bank's products and services, you can immediately ____

• refer potentially suspicious criminal or fraudulent activity by an associate

• refer alleged fraud or theft on a customer’s account

• refer potentially suspicious criminal activity that may be detected through direct dealing with a customer

• All of the above

• I'm not so sure

A good _______________ is essential to a business when providing customer service.

• speaking voice

• make-over

• first impression

• hair style