Definition 1 True xFalse 2 Know the definition ? 3 Know the definition? 4 Know the definition?

Question Merchant Banks

Answer 1 – 10 Banks that perform both traditional commercial banking and investment banking functions

Question Commercial bank

Answer 1 – 20 A commercial bank is a financial institution that provides services, such as accepting deposits, giving business loans and auto loans, mortgage lending, and basic investment products like savings accounts and certificates of deposit.investment productssavings accountscertificates of deposit

Question Offshore banking

Answer 1 – 30 Offshore banking refers to the deposit of funds by a company or individual in a bank that is located outside their national residence.. The advantage of offshore banking is that, in many cases, funds are tax exempt where the banks are located.

Question DOUBLE

Answer 1 – 40

Question Bounced cheque

Answer 1 – 50 A check that cannot be processed because the account holder has insufficient funds

Question Unauthorised withdrawal is the one that has not been agreed on with the bank

Answer 2 – 10 TRUE

Question To oversee banks means to check their operations

Answer 2 – 20 TRUE

Question Current account is the one that pays high interest rates.

Answer 2 – 30 FALSE

Question Letter of Credit is an oral commitment to pay, by a buyer's or importer's bank (called the issuing bank) to the seller's or exporter's bank (called the accepting bank, negotiating bank, or paying bank).commitmentbuyer'simporter'sbankcalled issuing bankseller'sexporter'saccepting banknegotiating bankpaying bank

Answer 2 – 40 FALSE

Question A teller is a bank employee that deals directly with customers, receiving and paying out money

Answer 2 – 50 TRUE

Question a small plastic card which can be used as a method of payment, the money being taken from you at a later time.

Answer 3 – 10 Credit card

Question sums of money paid by a customer for a bank's services.

Answer 3 – 20 Bank charges

Question a printed record of the money put into and removed from a bank account

Answer 3 – 30 Bank statement

Question The tax form or forms used to file income taxes with the Internal Revenue Service (IRS)income taxesInternal Revenue Service (IRS)

Answer 3 – 40 Tax return

Question A room or compartment, often built of or lined with steel, reserved for the storage and safekeeping of valuables, especially such a place in a bank.

Answer 3 – 50 Vault

Question One who serves as a guardian or protector against waste, loss, or illegal practices.

Answer 4 – 10 watchdog

Question The act of making all the details of the agreement known to the customer

Answer 4 – 20 disclosure

Question The amount available in an account. Simply put, the account balance is the net of all credits less all debitsaccount creditsdebits

Answer 4 – 30 Account balance

Question money from your bank account that you can get from a shop when you pay for goods with a debit card

Answer 4 – 40 cashback

Question property that you agree to give to a bank if you fail to pay back money that you have borrowed propertyagreebankfailpaymoney borrowed

Answer 4 – 50 collateral

Question financial information about someone that a bank or shop uses for deciding whether to lend them money or to give them credit

Answer 5 – 10 Credit rating

Question an order to a bank to regularly pay different amount of money from your account to a person or organizationorderbankregularlypaymoneyaccount personorganization

Answer 5 – 20 Direct debit

Question Adjective -used to describe lending at a higher than usual rate of interest because it involves borrowers who are less likely to be able to pay back their loan Adjective -usedlendinghigherusualrateinvolves borrowerslikelyablepayloan

Answer 5 – 30 Sub-prime

Question a test used to find out if a bank or other financial institution is likely to fail or have serious problems in a difficult economic situationtestusedbank financialinstitutionlikelyfailproblemsdifficulteconomic situation

Answer 5 – 40 Stress test

Question London Interbank Offered Rate: an interest rate at which banks can borrow from one another. It is set daily based on an average of the rates set by major banks around the worldOfferedRate ratebanksborrowsetdailybasedaverageratessetmajorbanksworld

Answer 5 – 50 LIBOR