2nd Year Principles of Banking Chapter 6 TestBank Accounts

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

1. Amount can be withdrawn from fixed deposit account after:

   1. Every six months

   2. Every year

   3. Expiry of term

   4. At any time

2. Which bank account continues after the withdrawal of total amount:

   1. Current account

   2. Fixed despite

   3. Saving account

   4. All the above

3. The account beneficial for people who save every month is:

   1. Fixed deposit

   2. Current account

   3. Saving account

   4. Foreign currency account

4. Which bank account in exempted from income tax and zakat:

   1. Saving account

   2. Fixed deposit

   3. Foreign currency account

   4. All the above

5. There is no profit on:

   1. Saving bank

   2. Saving account

   3. Current account

   4. Term deposit account

6. Which Fiqa does allow the deduction of Zakat in the application form of account opening:

   1. Hindu

   2. Shia

   3. Sunni

   4. None of the above

7. Pay-in-slip is written evidence of:

   1. Transferring money

   2. Depositing money

   3. Withdrawing money

   4. All of the above

8. Maintenance of minimum balance is not required in:

   1. Current account

   2. Basic banking account

   3. Saving account

   4. None of these

9. The amount of money in the account of account holder is called.

   1. Profit

   2. Interest

   3. Deposit

   4. Loan

10. The person who opens a bank account is called:

    1. Owner of bank

    2. Customer of bank

    3. Employee of bank

    4. None of the above