Banks

Which of the following is NOT a reason why it is safer to keep your money in a bank account than it is to keep it in cash.

• Cash can be stolen

• Cash can be destroyed in fires

• Bank accounts are FDIC insured

• Customers can lose money when a bank is robbed

If you have signed up for ________ coverage with your bank and you make a purchase or write a check that results in your account balance being negative, the purchase or check will still go through, but you will be charged a fee.

• wire transfer

• excess spending

• overdraft

• minimum balance

The ......Bank is known as Mother of all Banks

• SBI

• Karnataka

• Syndicate

• RBI

Service offered by banks are .....

• Debit and credit cards

• Mutual funds

• National saving certificate

• E banking

• Self deposit lockers

Types of banks are....

• Nationlaise banks

• Commercial banks

• Cooperative banks

• Home banks

• Industrial development banks

Which of the following is a primary function of commercial banks?

• A) Issuing currency

• B) Granting loans

• C) Regulating monetary policy

• D) Printing money

What is the main purpose of a central bank in a country?

• A) To provide loans to individuals

• B) To manage the country's currency and monetary policy

• C) To offer savings accounts

• D) To insure commercial banks

Which of the following is NOT a type of bank?

• A) Commercial bank

• B) Investment bank

• C) Central bank

• D) Grocery bank

What is the term for the interest rate charged by banks to their most creditworthy customers?

• A) Prime rate

• B) Discount rate

• C) Federal funds rate

• D) Base rate

Which of the following services is typically NOT offered by retail banks?

• A) Checking accounts

• B) Mortgage loans

• C) Investment banking

• D) Personal loans