WorksheetsThe Banking System
Total questions: 9
Worksheet time: 7mins
A current account is . . .
a bank account on which cheques can be drawn.
a bank account on which cheques cannot be drawn.
a bank account which does not pay interest.
None of the above.
A deposit account is . . .
a bank account which pays interest.
a bank account on which cheques can be drawn.
a bank account which does not pay interest.
None of the above.
A cheque . . .
is the form which must be completed when lodging money into a bank account.
must always be 'crossed'.
is an instruction to your bank to pay money out of your current account.
None of the above.
Cheques are sometimes 'crossed' . . .
so that they cannot be 'cashed' for a certain period of time.
to prevent them from being lodged into a bank account.
so as to avoid any person, other than the person to whom they are written, deriving any benefit from them.
None of the above.
Endorsing a cheque means . . .
making it void.
exchanging it for cash at a bank.
relinquishing your right to receive the amount of the cheque and passing that right on to someone else.
None of the above.
A paying-in slip is . . .
an once-off instruction to a bank to pay a specified amount from your current account.
the form which must be completed when lodging money into a bank account.
the same as a cheque.
None of the above.
The 'drawer' of a cheque is . . .
The bank in which the person writing the cheque has his/her account.
The person to whom the cheque is written.
The person who writes the cheque or on whose account the cheque is written.
None of the above.
The payee of a cheque is . . .
The bank in which the person writing the cheque has his I her account.
The person to whom the cheque is written.
The person who writes the cheque or on whose account the cheque is written.
None of the above.
A bank overdraft . . .
is an asset.
can exist on either a deposit account or a current account.
means that more money has been paid out of a bank current account than has been lodged into it.
None of the above.
