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Commerce
Function Of Commercial Banks
Quiz 1
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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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