Sunway College Educational Visit - Quiz

Bank Negara Malaysia is a statutory body which started operations on 26 January 1959. Bank Negara Malaysia is governed by the Central Bank of Malaysia Act 2009.

Below are the roles of Bank Negara Malaysia, EXCEPT

• Ensure financial system safe and sound

• Promote a safe, efficient and reliable payment system

• Responsible of regulating and systematically developing the capital markets in Malaysia

• Issue currency

Overnight Policy Rate (OPR) is BNM’s policy interest rate that influences, among others, banks’ lending and financing rates, as well as deposit rates.

Below are the correct statements about OPR, EXCEPT:

• Higher interest rates on savings and loans encourage people to save more and spend less

• OPR decisions are based on the outlook for growth and inflation in Malaysia

• Lower interest rates could also encourage excessive risk taking and speculative investments to get higher returns

• Bank Negara Malaysia has increased OPR 3 times in the year 2023

e-Duit (e-Payment) is an alternative payment instrument other than cash and cheque. With e-payment I can ______________________

• Reduce potential losses due to robbery or theft from physical cash handling / transfers.

• Save time and no need to que at the ATM machine for withdrawal of cash.

• Avoid from receiving counterfeit banknote.

• All of the above.

Bank Negara Malaysia have established bilateral cross-border payment linkages for QR payments with

• Japan, Singapore, South Korea

• Vietnam, Indonesia, Thailand

• Indonesia, Thailand, Singapore

• Australia, Canada, United States of America (USA)

I can share my online banking password, card number and ATM PIN number with my close families and friends

• Yes

• No

If someone offer me good money to rent my bank account and ATM card, I will accept the offer.

• Yes

• No

What is the implication of being mule account holder?

• Not able to conduct banking transactions including receiving salary and for business.

• Not able to open bank account for salary crediting purposes.

• Difficulties in obtaining government financial assistance.

• All of the above