Match each banking service with its type.

Question 4

MediumOriginal question

List I	List II
A. A fixed deposit for two years	I. A form of loan
B. A current account for a business	II. Time deposit
C. An overdraft allowed on a current account	III. General utility service
D. Renting a safe deposit locker	IV. Demand deposit

A-II, B-IV, C-I, D-IIICorrect answerYour answerA-II, B-I, C-III, D-IVCorrect answerYour answerA-I, B-II, C-IV, D-IIICorrect answerYour answerA-III, B-IV, C-I, D-IICorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

A fixed deposit is withdrawn after a set time; a current account on demand.
An overdraft lets a customer draw more than his balance: a loan. A locker is a utility service.

Concept: Banking services
Typical timeTypical: 90 s
Your timeYours: —

The rule this testsWhat commercial banks do

Practise this chapter →

Ten questions from Money Creation by Banks, at your own pace.

Practise this chapter →

Ten questions from Money Creation by Banks, at your own pace.

Match each banking service with its type.

Question 4

Explanation