Chapter 3 Financial Products And Services

1. What is the difference between a BSA and a BCA account compared to regular savings or current accounts?

• A. They offer higher interest rates than regular accounts.

• B. They are designed for businesses only.

• C. They only allow basic transactions at minimal cost or for free.

• D. They have no restrictions on transactions.

2. What banking services are available for BSA or BCA accounts?

• A. Investment advisory and foreign exchange services.

• B. Over-the-counter services, ATM services, deposit machines, Interbank GIRO, and Internet banking.

• C. Loan and credit card services.

• D. Premium account management services.

3. What principles guide Islamic banking?

• A. Maximizing profit through interest-based transactions.

• B. Following Syariah principles, prohibiting riba (interest), usury, trading in financial risks, and unlawful (haram) business ventures.

• C. Encouraging high-risk financial trading and investments.

• D. Allowing all forms of business ventures without restrictions.

4. Is Islamic banking only for Muslims?

• A. Yes, it is strictly for Muslims.

• B. No, Islamic banking is for everyone regardless of their religious beliefs.

• C. Yes, but non-Muslims can access limited services.

• D. No, but it requires participants to follow Islamic practices.

5. Why is it important to keep your account numbers and PINs confidential?

• A. To make account recovery easier.

• B. To prevent unauthorized access to your accounts.

• C. To increase your account balance automatically.

• D. To allow others to access your account for emergencies.

6. What actions should you take if you notice a discrepancy in your bank statement?

• A. Ignore it and wait for the next statement.

• B. Inform your bank immediately.

• C. Adjust the records yourself.

• D. Share the issue with friends or family for advice.

7. What is PIDM and when was it established?

• A. A private corporation established in 2010 to insure investments.

• B. A statutory body established under the Malaysia Deposit Insurance Corporation Act 2005.

• C. A government agency that regulates financial institutions.

• D. A non-profit organization for financial education.

8. What is the maximum amount protected by PIDM?

• A. RM 100,000 per depositor per member bank.

• B. RM 250,000 per depositor per member bank, including principal and returns.

• C. RM 500,000 per depositor per year.

• D. RM 1,000,000 for all depositors combined.

9. Where can you get more information about PIDM?

• A. By visiting www.banknegara.gov.my.

• B. By calling your bank directly.

• C. By visiting www.pidm.gov.my or calling their toll-free number, 1-800-88-1266.

• D. By asking your financial advisor.

10. What is Internet or online banking?

• A. A system for managing bank branches through mobile apps.

• B. Conducting banking transactions through a bank’s secure website.

• C. Transferring money in person at a bank branch.

• D. A method of investing in stocks through a bank.