WorksheetsTUTORIAL CHAPTER 6
Total questions: 21
Worksheet time: 11mins
What does ATM stand for?
Automated Teller Machine
Automatic Transfer Machine
All Time Money
Any Time Machine
What is EFTPOS used for?
Electronic Fund Transfer Payment Over Service
Electronic Fund Transfer Point of Sale Online
Electronic Fund Transfer Payment Online
Electronic Fund Transfer Point of Sale
Which of the following is a consumer product?
Electronic Data Interchange
Phone Banking
Corporate Banking
Investment Banking
What can you do with Phone Banking?
Transfer funds
All of the above
Check account balance
Locate nearest ATM
What is a disadvantage of using ATMs?
24-hour service
Easy access
No fees
Cash withdrawal limits
What is a benefit of using EFTPOS?
It requires cash
It is slow
It is convenient
It is only for large purchases
What do credit cards provide?
Revolving credit facility
Only cash withdrawals
No spending limit
No fees
What is a feature of debit cards?
They offer credit
They allow immediate deduction
They are only for online use
They have no fees
What is Internet Banking?
Banking through a phone call
Banking through a mobile app
Banking through the internet
Banking through a bank branch
What is one service offered by Internet Banking?
Phone support
ATM location
Cash withdrawal
Fund transfer
What is a charge card?
A card that charges interest
A card that must be paid in full
A card for cash only
A card with spending credit limit
What is a benefit of Electronic Data Interchange (EDI)?
It is only for large companies
It is slow
It requires paper transactions
It streamlines communication
What is a disadvantage of e-banking?
Convenience
Security concerns
Easy transactions
24-hour access
What is the first step to use Internet Banking?
Download an app
Obtain user ID and Password
Call customer service
Go to the bank
Which of the following statements is TRUE about Automated Teller Machines (ATMs)?
ATMs require assistance from a bank teller for transactions.
ATMs can be used to directly buy stocks.
ATMs are computerized devices that provide financial services.
ATMs are primarily used for printing checks.
What is the primary function of an Electronic Funds Transfer at Point of Sale (EFTPOS)?
Dispensing cash from ATMs.
Transferring funds using bank checks.
Enabling electronic payment at points of sale using payment cards.
Printing detailed account statements with transaction and balance information.
Which of the followings is NOT a function of an Electronic Funds Transfer at Point of Sale (EFTPOS) terminal?
Payment Processing.
PIN Entry usage.
Receipt Printing provides a record of the transaction.
Automated Inventory Management.
What customers cannot do with their bank's mobile app?
Transfer funds between accounts.
Check account statements.
Apply for a new passport directly through the app.
Locate the nearest ATM.
Which of the followings is NOT a structure of an Islamic credit card?
Bay al- Inah based credit card.
Bay al – Tawarruq based credit card.
Ujrah based credit card.
Mudarabah based credit card.
Which of the following are the Shariah rulings on debit cards according to AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions)?
i. The card usage must not exceed the balance available in the account.
ii. Interest charges can be applied if necessary.
iii. No interest charge should arise from the transaction.
iv. Islamic banks may charge a fee for issuing the debit card.
i, ii and iii
i, ii and iv
i, iii and iv
ii, iii and iv
What is Electronic Data Interchange (EDI)?
The process of manually entering data into a company's system.
The intercompany communication of business documents in a standard format.
The exchange of data within a single company.
The use of email to communicate business documents.
