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Sources of Business Finance Test - 16

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Sources of Business Finance Test - 16
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Banks are considered as 'financial intermediaries'. Which of the following activities correctly and comprehensively explains this role of banks?
  • Question 2
    1 / -0
    Banks do not provide which of the following services?
    Solution
    Sale of post cards and postal stamps services are offered by post office. This service is not offered by commercial banks. Functions of commercial banks include- issuing bank drafts, depositing money and lockers for valuable items.
  • Question 3
    1 / -0
    Non-convertible debentures are ________________.
  • Question 4
    1 / -0
    Which of the following is not a negotiable instrument?
  • Question 5
    1 / -0
    With a view to facilitating payment of balance in deposit account to the person named by the depositor without any hassles in the event of death of the account holder, which of the following facilities was introduced in bank accounts in our country?
  • Question 6
    1 / -0
    Technological advancement in recent times has given a new dimension to banks, mainly to which of the following aspects?
    Solution
    Any banking services like Internet banking, Mobile banking, Microchip Cards & Technology etc. Banks introduce a microchip enabled ATM Cards were issued to the customers. Its main aim is people moving forward for accessing banking transactions and spending their personal commitments through touch with banks. Hence, correct answer is option C.
  • Question 7
    1 / -0
    Deposits from _______ account can be withdrawn without any notice. 
    Solution
    Current deposit account is a type of bank account which is opened by the people in order to do business transaction which is why it is also known as business account. In this type of bank account, withdrawals can be made  throughout the tenure of the account without any notice in order to keep the efficient flow of business transactions so that there is no delay in business decisions. 
  • Question 8
    1 / -0
    Ramu wants to save money for his daughter's marriage in future. The type of Bank account you suggest him to open is ______.
    Solution
    Recurring Deposit is a special kind of Term Deposit offered by banks in India which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits. It is similar to making FDs of a certain amount in monthly installments, for example ₹ 1000 every month. This deposit matures on a specific date in the future along with all the deposits made every month. Thus, Recurring Deposit schemes allow customers with an opportunity to build up their savings through regular monthly deposits of fixed sum over a fixed period of time. 
  • Question 9
    1 / -0
    _______ is a primary function of commercial banks.
    Solution

    A commercial bank is that financial institution whose primary function is to accept deposit in all denominations from the people and offers loan for the purpose of consumption or investment. The main function of commercial bank is to create credit through the primary deposits which the bank receives from the public in order to provide more credit to the public. 

  • Question 10
    1 / -0
    Saving bank account is suitable for people from ______ class.
    Solution

    Saving bank account refers to the type of bank account which is opened by the people in order to save a part of their income. Therefore, it is the most suitable account for salaried class people as they can save a part of their monthly income in this type of account and earn a nominal rate of interest on their savings.

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