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Questions and Answers
Which one of these is NOT a commonly understood type of bank account?
Which one of these is NOT a commonly understood type of bank account?
- Deposit account
- Savings account (correct)
- Credit card account
- Loan account
What is recorded in a bank account?
What is recorded in a bank account?
- Financial transactions between the bank and a customer (correct)
- Terms and conditions set by the financial institution
- Customer's personal information
- Bank's profit and loss
Can a customer have more than one bank account?
Can a customer have more than one bank account?
- Yes, but only if they have a good credit score
- No, customers are only allowed to have one bank account
- Yes, a customer can have multiple bank accounts (correct)
- Yes, but only if they are a business owner
What is reported to the customer on a bank statement?
What is reported to the customer on a bank statement?
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What are funds entrusted by the customer to the financial institution called?
What are funds entrusted by the customer to the financial institution called?
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