Business studies

What is a bank primarily used for?

• Selling groceries

• Keeping money safe

• Manufacturing goods

• Providing entertainment

Which of the following is a type of bank account?

• Savings account

• Insurance account

• Investment account

• Loan account

What is an open cheque?

• A cheque for large amounts only

• A cheque that is not valid

• A cheque that must be deposited

• A cheque that can be cashed anywhere

Which of the following is NOT an ethical issue in banking?

• Money laundering

• Tax evasion

• Providing loans

• Account manipulation

What does e-banking allow customers to do?

• Only withdraw cash

• Access banking services electronically

• Visit the bank physically

• Open a new bank branch

What is the purpose of insurance?

• To increase expenses

• To protect against losses

• To sell products

• To avoid paying taxes

Which of the following is a basic principle of insurance?

• Indemnity

• Profit maximization

• Product promotion

• Market competition

What is a non-insurable risk?

• Health issues

• Car accidents

• Fire damage

• Loss from gambling

What is one benefit of insurance?

• Provides job opportunities

• Increases risk

• Limits choices

• Reduces savings

What is a responsibility of a consumer?

• Self-education about products

• Avoiding complaints

• Ignoring product instructions

• Buying without thinking