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Banking Compliance and Ethics
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Banking Compliance and Ethics

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Questions and Answers

What is the primary function of a bank?

  • To issue credit cards and travelers' cheques
  • To accept deposits from the public and grant loans (correct)
  • To provide agency services to customers
  • To invest in securities and stocks

    • What is a key characteristic of bank deposits?

  • They can be withdrawn at any time (correct)
  • They are not guaranteed safe
  • They do not earn interest
  • They are only accessible during business hours

    • What is an incidental activity of banking?

  • Providing agency services to customers (correct)
  • Lending or investing deposits
  • Manufacturing and selling banking equipment
  • Accepting deposits from the public

    • What is a benefit of depositing money in a bank?

    <p>The depositor earns interest on their deposits</p> Signup and view all the answers

    What is a service provided by banks to customers?

    <p>Agency services, such as bill collection and insurance premium payment</p> Signup and view all the answers

    What is the role of a banker?

    <p>To undertake banking activities, accepting deposits and lending money</p> Signup and view all the answers

    What is a type of financial service provided by banks?

    <p>Discounting bills and cash credit facilities</p> Signup and view all the answers

    What is the primary goal of banking activities?

    <p>To promote and mobilize savings of the public</p> Signup and view all the answers

    What is a characteristic of banking?

    <p>It involves accepting deposits and lending money</p> Signup and view all the answers

    What is a benefit of banking activities?

    <p>It provides a means for savings mobilization</p> Signup and view all the answers

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