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WorksheetsBanking
Total questions: 13
Worksheet time: 10mins
The following headline recently appeared on the front page of a newspaper.
"Banking crisis hits commerce".
Which of these effects of a banking crisis is likely to be the most serious for businesses who are wishing to expand?
The banks will be less willing to provide loans and overdrafts.
The banks will be unwilling to provide advice to businesses.
The banks will close their internet sites.
The banks will reduce the staff numbers in their branches.
Which method of payment requires the creditor to ask the bank for payment?
Banker's order
Cheque
Credit transfer
Direct debit
A business wishes to move funds quickly between countries.
Which means of payment should it use?
Bank draft
Credit transfer
Electronic transfer
Documentary credit
A record of the customer's transactions with a bank is available to the customer in the form of
A credit slip
A letter
A statement
An Account
Why are deposits at commercial banks classified as money?
They are liable to banks.
They can be used to settle debts.
They can be withdrawn at any bank.
They earn interest for the depositor.
What is a bill of exchange?
A document used by international travellers to pay hotel bills.
A guarantee of payment to an importer.
A promise to pay a debt at a fixed date in future.
A sum of money shown on an invoice.
‘A means of payment agreed between the debtor and the creditor used for recurring and variable payments.’
Which means of payment is being described?
Bank draft
Direct debit
Documentary credit
Standing order
What is a benefit to the customer of mobile banking?
Cheaper staffing costs
Lower operating costs
Smaller number of bank branches
Wider access to banking services
What is a feature of a bank current account?
A high interest rate is earned on money deposited.
A minimum amount must be kept in the account.
An overdraft may be possible.
It is a means of long-term saving.
What is needed in order to use an ATM?
Phone number
PIN
Signature
Voice recognition
The diagram shows a device which can be used for internet banking.
What is the benefit to a bank customer of using this device for internet banking?
Immediate access to services.
Increased verbal communication with bank.
More convenient and safer than carrying cash.
Reduction is staff costs
What is an advantage to a customer of having an internet bank account?
Being sure of complete security
Paying in cash and cheques
Receiving alerts about the account
Withdrawing cash at any time
What is a direct debit?
A method by which a bank charges a current account holder for its services
Money taken automatically by a creditor from a current account
Payment of several bills with one cheque for the total amount
The bank’s own cheque paid on behalf of a customer
