Commercial Banks — Practice Quiz
ICSE · Class 10 · Economic Application
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Quick Quiz: Commercial Banks
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What is the primary source of income for a commercial bank?
A commercial bank accepts deposits from the public and gives loans for which purpose?
Which of the following is a primary function of commercial banks?
Which account is a non-interest bearing bank account with no limit on number of transactions in a day?
Sample Questions
Which statement about fixed deposits is correct?
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They carry the highest rate of interest
Fixed deposits earn the highest rate of interest. Longer periods generally mean higher interest rates.
How long does the period of a fixed deposit generally range?
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7 days to 10 years
Fixed deposits are maintained for a fixed time, generally ranging from 7 days to 10 years.
What is the overdraft facility?
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A facility that allows a current account holder to withdraw more than the balance up to an agreed limit
Overdraft is allowed only to current account holders. They can withdraw more than the balance, but only up to an agreed limit.
Which of these is a type of loan and advance given by commercial banks?
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Cash credit
Cash credit is a type of loan and advance. It is a short-term working capital loan against collateral.
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