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WorksheetsChapter 3 Financial Products And Services
Total questions: 10
Worksheet time: 5mins
1. What is the difference between a BSA and a BCA account compared to regular savings or current accounts?
A. They offer higher interest rates than regular accounts.
B. They are designed for businesses only.
C. They only allow basic transactions at minimal cost or for free.
D. They have no restrictions on transactions.
2. What banking services are available for BSA or BCA accounts?
A. Investment advisory and foreign exchange services.
B. Over-the-counter services, ATM services, deposit machines, Interbank GIRO, and Internet banking.
C. Loan and credit card services.
D. Premium account management services.
3. What principles guide Islamic banking?
A. Maximizing profit through interest-based transactions.
B. Following Syariah principles, prohibiting riba (interest), usury, trading in financial risks, and unlawful (haram) business ventures.
C. Encouraging high-risk financial trading and investments.
D. Allowing all forms of business ventures without restrictions.
4. Is Islamic banking only for Muslims?
A. Yes, it is strictly for Muslims.
B. No, Islamic banking is for everyone regardless of their religious beliefs.
C. Yes, but non-Muslims can access limited services.
D. No, but it requires participants to follow Islamic practices.
5. Why is it important to keep your account numbers and PINs confidential?
A. To make account recovery easier.
B. To prevent unauthorized access to your accounts.
C. To increase your account balance automatically.
D. To allow others to access your account for emergencies.
6. What actions should you take if you notice a discrepancy in your bank statement?
A. Ignore it and wait for the next statement.
B. Inform your bank immediately.
C. Adjust the records yourself.
D. Share the issue with friends or family for advice.
7. What is PIDM and when was it established?
A. A private corporation established in 2010 to insure investments.
B. A statutory body established under the Malaysia Deposit Insurance Corporation Act 2005.
C. A government agency that regulates financial institutions.
D. A non-profit organization for financial education.
8. What is the maximum amount protected by PIDM?
A. RM 100,000 per depositor per member bank.
B. RM 250,000 per depositor per member bank, including principal and returns.
C. RM 500,000 per depositor per year.
D. RM 1,000,000 for all depositors combined.
9. Where can you get more information about PIDM?
A. By visiting www.banknegara.gov.my.
B. By calling your bank directly.
C. By visiting www.pidm.gov.my or calling their toll-free number, 1-800-88-1266.
D. By asking your financial advisor.
10. What is Internet or online banking?
A. A system for managing bank branches through mobile apps.
B. Conducting banking transactions through a bank’s secure website.
C. Transferring money in person at a bank branch.
D. A method of investing in stocks through a bank.
