Quiz on Definitions of Banker and Customer

According to Paget’s Law of Banking, what is a primary function of a banker?

• Accept money on current accounts

• Invest in stocks and bonds

• Provide insurance services

• Offer real estate advice

What does Halsbury’s Laws of England define as a banker?

• A loan officer

• A financial advisor

• A person who only accepts deposits

• An individual or corporation whose main business is banking

In the case of Sabah Development Bank Bhd v SKBS, what is one requirement for an entity to be considered a banker?

• Must provide investment advice

• Must operate online banking

• Must issue credit cards

• Must take current accounts

What does the Financial Services Act 2013 define as 'banking business'?

• Managing investment portfolios

• Providing loans exclusively

• Only accepting deposits

• Accepting current accounts and paying cheques

According to the court in Commissioners of Taxation v English Scottish and Australia Bank Ltd, what defines a 'customer' of a bank?

• A person who only uses online banking

• A person with a long-standing relationship with the bank

• A person whose money has been accepted by the bank

• A person who has multiple accounts