Module 8,9,10,11 revision

Which of the following is a type of account specifically designed to help individuals save money over time while earning interest?

• Current Account

• Savings Account

• Fixed Deposit Account

• Recurring Deposit Account

Which banking service allows customers to withdraw money from their account using a card and a personal identification number (PIN)?

• Internet Banking

• Mobile Banking

• ATM Services

• Cheque Book Services

Which of the following is NOT a service typically offered through mobile banking applications?

• Funds Transfer

• Bill Payment

• Loan Application

• Safe Deposit Box Access

Which financial product is designed to provide protection against potential financial losses?

• Savings Account

• Insurance

• Credit Card

• Fixed Deposit

What is the primary purpose of an overdraft facility provided by banks?

• To invest in stock markets

• To provide loans for business startups

• To allow account holders to withdraw more money than what is available in their account

• To facilitate foreign exchange transactions

What is the term for a banking service that allows businesses to manage payroll, vendor payments, and other transactions electronically?

• Mobile Banking

• Corporate Banking

• Retail Banking

• Cash Management Services

Which of the following is the main difference between a debit card and a credit card?

• A debit card allows you to borrow money from the bank, while a credit card uses your own money.

• A debit card uses money directly from your bank account, while a credit card allows you to borrow money up to a certain limit.

• A debit card has a higher interest rate compared to a credit card.

• A debit card requires a credit check, while a credit card does not.

What does a cardholder typically need to provide when making an online purchase with a credit card?

• Card number, expiration date, and CVV

• Bank account number, routing number, and PIN

• Social Security number, date of birth, and ZIP code

• Bank branch number, card PIN, and cardholder's name

What is the primary nature of the relationship between a banker and a customer when the customer deposits money into their account?

• Debtor and Creditor

• Agent and Principal

• Trustee and Beneficiary

• Landlord and Tenant

If a bank is acting on behalf of a customer to collect checks and other instruments, what is the nature of their relationship?

• Debtor and Creditor

• Agent and Principal

• Lessor and Lessee

• Guarantor and Guarantee