Commercial Bank Quiz

What is the main function of a commercial bank?

• Selling insurance policies

• Operating as a non-profit organization

• Providing legal services

• Accepting deposits and providing loans

Which of the following is not a function of a commercial bank? A) Issuing credit cards B) Providing loans C) Selling groceries

• F) Providing healthcare services

• D) Offering cooking classes

• E) Selling insurance

• C

What is the purpose of a savings account in a commercial bank?

• To offer credit card services

• To facilitate international money transfers

• To provide a secure place for individuals to deposit and save their money while earning interest on the balance.

• To provide loans to customers

Which type of account allows the account holder to withdraw money anytime without any notice?

• Checking account

• Savings account

• Retirement account

• Investment account

What is the minimum balance requirement for a current account in a commercial bank?

• The minimum balance requirement varies by bank and type of account.

• The minimum balance requirement is $500 for all types of current accounts.

• There is no minimum balance requirement for a current account in a commercial bank.

• The minimum balance requirement is $1000 for all commercial banks.

Which type of account is suitable for earning interest on deposited money?

• Savings account

• Credit card account

• Checking account

• Investment account

What is the primary source of income for a commercial bank?

• Selling merchandise

• Donations from customers

• Interest on loans and mortgages

• Government subsidies

Which of the following is not a type of account in a commercial bank? A) Fixed Deposit Account B) Demat Account C) Mutual Fund Account

• B) Demat Account

• C) Mutual Fund Account

• D) Savings Account

• A) Fixed Deposit Account

What is the function of a commercial bank in facilitating international trade?

• Organize international trade fairs

• Offer language translation services

• Facilitate international trade through trade finance services

• Provide free international shipping

Which type of account is used for making regular payments and withdrawals?

• Savings account

• Investment account

• Credit card account

• Checking account