Banking Terminologies Quiz

What does ATM stand for in banking?

• Advanced Teller Mechanism

• Automated Transaction Module

• Automated Teller Machine

• Automatic Transaction Machine

What is the term used for a fixed amount of money paid each year, usually for the rest of someone's life?

• Asset

• Bailout

• Balance Sheet

• Annuity

What is the term for a resource with economic value that is expected to provide benefits in the future?

• Bank Credit

• Bank Rate

• Assets

• Banknote

What is the legal process through which people or entities cannot repay debts to creditors?

• Bouncing of a cheque

• Bridge Loan

• Bankruptcy

• Bancassurance

What is the rate of interest charged by a central bank to commercial banks on advances and loans?

• Bank Rate

• Base Rate

• Bills of Exchange

• Basis Point

What is the term for a loan made by a bank for a very short period to make up for a temporary cash shortage?

• Bridge Loan

• Bancassurance

• Bouncing of a cheque

• Base Rate

What is the term for the distribution of insurance products by banks as corporate agents through the bank's branches?

• Bancassurance

• Bouncing of a cheque

• Base Rate

• Bills of Exchange

What is the situation when an account has insufficient funds and a cheque is not payable?

• Bouncing of a cheque

• Base Rate

• Basis Point

• Bankruptcy

What is the term for a loan that is made available for a very short period of a few days with a low rate of interest?

• Capital Assets

• Call Money

• Cheque

• Cash Cow

What is the term for a note issued by a bank promising to pay a certain specified amount of money?

• Bridge Loan

• Banknote

• Bank Rate

• Bankruptcy