Banking Quiz

For what purpose is the bank giro credit slip used?

• to credit an overseas bank account

• to pay a creditor who does not have a bank account

• to pay money into a bank account

• to withdraw money from a current account

Which statement applies to a direct debit but not a standing order?

• Cash is paid directly to the creditors.

• It is used for payment of small amounts of money.

• The amount is transferred from one account to another.

• The creditor, and not the debtor, asks for payment.

Why has Internet banking increased rapidly during the last three years?

• Customers are not concerned about the security of their accounts.

• Customers can make use of bank services at home.

• Internet Banking companies always provide free gifts.

• The use of ATMs is decreasing.

What is a current account at a commercial bank?

• An account for daily transactions

• An account requiring a passbook

• An account used for savings

• An account which cannot be over drawn

Who is the drawer of this cheque?

• A/C Payee

• Ahmed Khan

• Angali Dhar

• New Bank of South Asia

What is the advantage to a bank customer of using direct debit as a means of payment?

• it ensures that a current account is not overdrawn.

• the bank asks for payment when it falls due.

• the customer is able to pay several accounts with one cheque.

• variable amounts can be paid at irregular intervals.

Money placed in a deposit account with a commercial bank earns

• interest after a period of 3 months.

• interest from the day of deposit.

• no interest at all.

• no interest after a period of 3 months.

What is the purpose of this card?

• to borrow money from the bank

• to buy now and pay later

• to make immediate payment to a retailer

• to withdraw $500 in cash at any one time.

Which document does a business complete when it puts money into its bank account?

• cheque

• credit card

• paying-in slip

• remittance advice

What is the balance on 18 September?

• $275

• $1475

• $1875

• $2275