Q.1
The primary function of a bank. It is the lifeline of the bank.
  • Current Deposits
  • Accepting Deposits
  • Fixed Deposits
  • Savings Deposits
Q.2
Under this, only 2 transactions are allowed
  • Demand Deposits
  • Fixed Deposits
  • Saving Deposits
  • None of the above
Q.3
What is trust ? Choose the best answer.
  • A legal arrangement wherein the (trustor) gives an authority to control the property to a person or an institution (trustee) for the benefit of the beneficiaries.
  • Firm belief in the reliability, truth, ability, or strength of someone or something.
  • None of the above
  • all of the above
Q.4
The person who buys the cheque.
  • Agent
  • Issuer or Obligor
  • Purchaser
  • Merchandiser
Q.5
A person to whom the cheque is handed over in exchange for goods and services.
  • Payee or Merchant
  • Purchaser
  • Agent
  • Issuer or Obligor
Q.6
The Bank or any other party that sells the cheque.
  • Purchaser
  • Payee or Merchant
  • Agent
  • Issuer or Obligor
Q.7
Funds are transferred by means of?
  • Draft
  • electronic transfer
  • telephonic transfer
  • all of the above
Q.8
An amount of money offered by a bank to a borrower at a defined interest rate for a fixed period.
  • Bank account
  • Bank savings
  • Bank loan
  • Bank Deposits
Q.9
A form of financing that allows the current account holders to overdraw the account up to a specified limit.
  • Bank Loan
  • Bank Deposit
  • Bank Account
  • Bank overdraft
Q.10
Choose an answer does not belong to the group
  • Commercial Letter of Credit
  • Revolving Letter of Credit
  • Traveler's Letter of Credit
  • Letter of debit
Q.11
This kind of letter allows a customer to make any number of draws within a certain limit during a specific time period.
  • Traveler's Letter of credit
  • Confirmed Letter of credit
  • Revolving Letter of credit
  • Commercial Letter of credit
Q.12
This letter will guarantee that issuing banks will honor drafts made at certain foreign banks.
  • Traveler's Letter of credit
  • Revolving Letter of credit
  • Commercial Letter of credit
  • Confirmed Letter of credit
Q.13
Choose the Public sector bank
  • Landbank
  • BDO
  • Metrobank
  • Seciruty bank
Q.14
Choose the private sector banks
  • Chinabank
  • BDO
  • Metrobank
  • All of the above
Q.15
Is a letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount.
  • Trust
  • Letter of Debit
  • Letter of Credit
  • Letter from crush
Q.16
It is under the Secondary Functions:
  • Trust
  • Letter of credit
  • Collecting income
  • savings deposit
Q.17
A type of institution that offers basic financial products.
  • Rural Bank
  • Commercial Bank
  • Public Bank
  • Bank of Commerce
Q.18
Refers to a type of commercial banks that are nationalized by the government of a country.
  • Public Sector
  • Private Sector
  • Banco de Oro
  • None of the above
Q.19
Refers to commercial banks that are headquartered in a foreign country, but operate branches in different countries.
  • Commercial Bank
  • Private Sector Bank
  • Foreign Bank
  • Foreign Exchange Bank
Q.20
Refers to kind of deposits that can be easily withdrawn by individuals without any prior notice to the bank.
  • Savings Deposit
  • Current Account Deposits
  • Fixed Deposits
  • Current Deposits
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