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Fundamentals of Banking

Total questions: 20

Worksheet time: 15mins

Name
Class
Date
1.
money subtracted from an account
a)
withdrawal
b)
deposit
c)
transfer
d)
balance
2.
Money received is called...
a)
income
b)
insurance
c)
savings
3.
To put money into an account.
a)
Deposit
b)
Withdraw
c)
Savings for a chicken
d)
Interest for a cow
4.

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

(a)  

5.

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

a)

time deposits.

b)

demand deposits.

c)

NONE

6.

What is the name of Central Bank in India?

a)

SBI

b)

RBI

c)

PNB

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 financial institutions make most of their money?
a)
Fees
b)
Interest
c)
Mutual Funds
d)
Loan Payments
9.
You should keep your pin number in your wallet.
a)
True
b)
False
10.
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
11.
Taking more money out of your account than is available​ is called?
a)
Overdraw
b)
Deposit
c)
Withdraw
d)
Balance
12.

Which bank enjoys monopoly power of Note issue?

a)

NABARD

b)

Commercial Bank

c)

Central Bank

13.
Money received is called...
a)
income
b)
insurance
c)
savings
14.
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
15.

RuPay card was developed by

a)

National Payment Commission of India

b)

National Physical Commission of India

c)

Net Payment Council of India

d)

National Payments Corporation of India

16.

ATM stands for

a)

Any Time Money

b)

Automatic Teller Machine

c)

Automated Time Money

d)

Any Teller Money

17.

tick any two benefits of e-banking

a)

Time saving

b)

increases the chance of errors

c)

convenience

d)

not cost effective

18.

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

a)

Currency

b)

Money

c)

Liquidity

d)

Deferred Payment

19.

What does the M in M-banking stands for?

a)

money

b)

message

c)

mobile

d)

mutual fund

20.

9. An ordinary bank cheque that any bank can refuse to encash or pay because of insufficient finances in the bank account of the drawer of cheque.

a)

A cheque

b)

Bounced Cheque

c)

An overdraft

d)

RTGS