Banking History and Functions

During Straits Settlements’ period, the growth of port facilities led to the establishment of which bank, which later became a subsidiary of the Hong Kong Bank and is now known as HSBC?

• Royal Bank of Scotland

• Mercantile Bank

• Standard Chartered Bank

• Bank of America

Which other bank, now known as Standard Chartered, also established its presence in penang?

• Bank of America

• Chartered Bank

• Barclays Bank

• Royal Bank of Scotland

What was the name of the bank in the early 1930s?

• Security Chamber

• Vault

• Safe House

• Strong Room

In 20th century, which businesses were major impetuses for the growth of the bank?

• Tea and Spices

• Tin and Rubber

• Coffee and Sugar

• Cotton and Silk

What is the best explanation of banking halls?

• A secure room for counting cash and coins

• A storage area for bank records and documents

• A lounge for bank staff to take breaks

• A place where bank officers and customers interacted

Which of the following is not a responsibility of banks?

• Credit Creation

• Custodial Services

• Financial Intermediation

• Delivery Services

The first ATM in Malaysia was launched by Maybank at its Ampang Park branch. When did this event occur?

• 1992

• 2001

• 1971

• 1981

What is the best to describe credit creation?

• Banks offer essential payment services

• Banks act as intermediaries

• Banks safeguard assets

• By providing loans

Why banks need to comply with local and international regulations?

• approve laundering

• protect bank

• ensure financial stability

• approve fraud

Which of the following is a role of banks?

• Organizing community events

• Managing national defense

• Facilitation of Investments

• Manufacturing goods