Banking Section Quiz

Underwriting is a primary market process.

The current account is a non-interest bearing account.

Saving account addresses all kinds of customers individuals and corporate.

The time deposit in one of the retail liability products.

Asset products are those types whereby customers deposit their money with the bank.

Banks accept deposits and give loans and derive a profit from the difference in the interest rates paid and charged respectively.

The current account is the account that issues the customer a cheque book.

When the customer makes no transaction on his account for 4 months it becomes dormant.

The date on the draft cheque is always date of issue.

In murabaha the bank purchases a product such as a car and resells it to the customer with an agreed upon profit margin.