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Banking operations

Total questions: 20

Worksheet time: 20mins

Name
Class
Date
1.

Which bank enjoys monopoly power of Note issue?

a)

NABARD

b)

Commercial Bank

c)

Central Bank

2.
Taking more money out of your account than is available​ is called?
a)
Overdraw
b)
Deposit
c)
Withdraw
d)
Balance
3.
What is the amount of money required to be stay in an account?
a)
Maximum Balance
b)
Minimum Balance
c)
Minimum Deposit
d)
Maximum Deposit
4.
You should keep your pin number in your wallet.
a)
True
b)
False
5.
What is the name of a legal document that functions like cash?
a)
Check
b)
ATM
c)
Deposit slip
d)
PIN
6.
How do financial institutions make most of their money?
a)
Fees
b)
Interest
c)
Mutual Funds
d)
Loan Payments
7.
Banks create money by taking in deposits, making _______, and charging _______.
a)
interest, payments
b)
loans, interest
c)
payments, loans
d)
debt, loans
8.

How do banks earn their money?

a)

high initial bank account opening fees

b)

allocating customers' money for daily expenses and company's money for quarterly bills

c)

lending money at higher interest rates than what they are paying out for savings accounts

d)

circulating printed money into the economy and keeping a percentage for daily operations

9.

What is the name of Central Bank in India?

a)

SBI

b)

RBI

c)

PNB

10.

Deposits which are payable after the expiry of a fixed period are called -

a)

time deposits.

b)

demand deposits.

c)

NONE

11.

Banks accept deposits of money and saving from their customers. They attract it by paying customers . . .

(a)  

12.

The centre of the banking systems in most economies is the

(a)  

13.

Axis Bank is .......

a)

Private Bank

b)

Public sector bank

c)

Cooperative Bank

d)

Development Bank

14.
To put money into an account.
a)
Deposit
b)
Withdraw
c)
Savings for a chicken
d)
Interest for a cow
15.
Money received is called...
a)
income
b)
insurance
c)
savings
16.
money subtracted from an account
a)
withdrawal
b)
deposit
c)
transfer
d)
balance
17.
What is money borrowed that must be repaid, usually with interest?
a)
Loan
b)
Check
c)
Checking account
d)
Debit card
18.
What is paying for something with money that you borrow and must pay back, usually with interest? 
a)
Income
b)
Credit
c)
Interest 
d)
Lend 
19.
What is it called when another person gives you money that you will need to pay back? 
a)
Interest
b)
Savings Plan
c)
Borrow 
d)
Lend
20.

Anything that's accepted in exchange for goods & services.

a)

Currency

b)

Money

c)

Liquidity

d)

Deferred Payment