Quiz 1 Principles of Banking

Banks provide a safe place to store extra cash and credit.

Savings account is most advisable to businessmen.

For fixed deposit accounts a client can avail of a loan against their fixed deposit to as much as 60%.

This is the type of account where no premature withdrawals are allowed.

A wise banker would charge a borrower an interest which is:

The main objective of current bank account is to enable the businessmen to conduct their business transactions smoothly.

Enjoy hassle-free banking with the BDO Mobile Banking. You can monitor your deposit accounts, credit card, pay your utility (electric, water, cable, postpaid phone, etc.) bills and other frequently paid services, move funds and locate the nearest BDO branch or ATM. This statement best describe the function of BDO as a bank that is:

Apply now to finance the purchase of a brand new or pre-owned car, whether for your personal or business use. This statement from BDO describe the function termed:

BPI through its foundation undertakes activities and initiatives that aim to reduce the environmental impact of the bank's operations. This is a reflection of what bank's utility function?

A fixed deposit account is an interest-bearing deposit account held at a bank or other financial institution that provides a modest interest rate and has no restriction on the number of amount of deposits but withdrawal are subject to certain control.

In a fixed deposit account a money can be deposited only once in a fixed deposit account.

Banks make money by making loans from a portion of the deposits and charging interest on those loans.

Savings accounts earn interest at a particular rate , while there is no such earning from a Current Account.

Liz went to a retail outlet and buy cosmetics amounting to Php2,000 and wrote a check for the purchase. However, when the merchant deposited the check in the bank, Liz account only contained Php1,500, which means that she is Php500 short of what is due for the check. This situation is a best example of:

This refers to an agency function where a range of professional services to manage an individual's and company's securities, such as stocks and bonds, and other assets, such as real estate is assumed by the bank.