Finance Unbox-ED ($) - Grade 3-5 - Session 011 - Quiz 1

Select all the ways in which banks make money

• Loans
• Credit Cards
• Investments
• Fees

EMI stands for?

• Equal Monthly Installment
• Equated Monthly Income
• Equated Monthly Installment
• Equal Monthly Investment

Select the statements that is true

• Banks often charge an annual fee on credit cards
• Banks charge us interest if we do not pay our credit card bills on time
• Both of the above
• None of the above

Banks lend out all the money they get from savings accounts, current accounts and FDs / CDs to maximize profits

• True
• False

Banks earn commission by selling mutual funds and insurance policies

• True
• False