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LIBF UNIT 2 Topic 7

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

A written order by a bank customer (the drawer) to pay someone else (the payee) is known as:

a)

cheque

b)

standing order

c)

direct debit

d)

credit card

2.

What is the name given to a card issued to current account customers that allows them to pay for purchases or draw money from a cash machine?

a)

credit card

b)

debit card

c)

cash card

d)

cheque

3.

A debit card that has the contactless payment symbol on it can be used to make contactless payments of up to:

a)

25 pounds

b)

50 pounds

c)

30 pounds

d)

15 pounds

4.

Zapp allows customers to make payments through:

a)

the internet

b)

debit card

c)

credit card

d)

their mobile phones

5.

Customers with what type of bank account will usually receive a printed statement each month?

a)

an internet account

b)

a telephone account

c)

a branch-based account

d)

an app-based account

6.

Standing orders provide a flexible way to pay regular bills or make regular payments.

a)

False

b)

True

7.

Direct debits provide a flexible way to pay regular bills or make regular payments.

a)

True

b)

False

8.

It is now easy to select a bank and to switch from one bank to another.

a)

True

b)

False

9.

A payment clearing scheme that allows electronic payments to be made between bank accounts is known as:

a)

Bacs

b)

CHAPS

c)

Cheque

10.

The electronic Clearing House Automated Payment System, which is used for very high-value payments and payments between large companies is known as:

a)

Bacs

b)

CHAPS

c)

Credit card

d)

Direct Debit

11.

The UK smart-card payment system for debit and credit cards, which uses a computer chip within the card itself, and a personal identification number (PIN) chosen by the customer.

a)

Direct debit

b)

Standing order

c)

Chip and Pin

d)

Cheque

12.

The process by which a cheque or card payment goes through the banking system is known as...

a)

credit card

b)

debit card

c)

cheque

d)

clearing

13.

A card used by the account holder to make payments or withdraw money from their current account...

a)

credit card

b)

debit card

c)

pay as you go card