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Q:

What are the different types of Loans offered by banks? 

Answer:



Q:

When referring to student loans what is a grace period?

A) 6 months B) 12 months
C) 18 months D) 24 months
 
Answer & Explanation Answer: A) 6 months

Explanation:

6 months after graduating or quitting school when you have to start paying back the loans.

 

A grace period is one term that’s provided for student loans that allow you to delay payments up to a certain length of time, without penalty. During a grace period no late charges would apply, and the loan would not risk falling into default for missed payments. The grace period allows you time to find financial stability prior to having to make payments on your student loans.

 

Many students use student loans to help pay for their college expenses, including tuition, books, room and board, and other living expenses. Students are expected to repay these loans when they graduate.

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Q:

How can investors receive compounding returns?

A) By investing their earnings back into their original investment B) By diversifying their investment portfolio
C) By selecting a savings account that has a higher interest rate D) By transferring their earnings back into high-risk investment
 
Answer & Explanation Answer: A) By investing their earnings back into their original investment

Explanation:
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Q:

The accounting software Tally was developed by

A) Wipro B) TCS
C) HCL D) Infosys
 
Answer & Explanation Answer: B) TCS

Explanation:

Tally is one of the best business accounting software for accounting, inventory, payroll. It is economical and one of the most popular ERP software solutions available in the industry.

Tally, an accounting software was developed by the multinational company TCS - Tata Consultancy Services.

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Q:

A check returned by the bank marked nsf means

A) Cheque has been forged B) Cheque can't be cashed being illegal
C) There are not sufficient funds in your accoun D) Bank can't verify your identity
 
Answer & Explanation Answer: C) There are not sufficient funds in your accoun

Explanation:

NSF means - Not Sufficient Funds.

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Q:

Saving accounts usually offer ___ interest rates than checking accounts.

A) Higher B) Lower
C) Equal D) None
 
Answer & Explanation Answer: A) Higher

Explanation:

A savings account is the most basic type of account at a bank or credit union, allowing you to deposit money, keep the funds safe, and withdraw funds as needed. Savings accounts typically pay interest on your deposits, which helps you grow your money, but rates are relatively low on these low-risk accounts.


A checking account is a deposit account held at a financial institution that allows withdrawals and deposits. Also called demand accounts or transactional accounts, checking accounts are very liquid and can be accessed using checks, automated teller machines and electronic debits, among other methods.

 

Hence, Saving accounts usually offer higher interest rates than checking accounts.

 

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1 75
Q:

Commercial banks are funded through which of the following?

A) Stock holders B) Government funding
C) Services D) Customer deposits
 
Answer & Explanation Answer: D) Customer deposits

Explanation:

A commercial bank is a type of financial institution that accepts deposits, offers checking account services, makes business, personal and mortgage loans, and offers basic financial products like certificates of deposit (CDs) and savings accounts to individuals and small businesses. A commercial bank is where most people do their banking, as opposed to an investment bank.

 

Commercial banks are funded through customer deposits. These banks make money by providing loans and earning interest income from those loans. The types of loans a commercial bank can issue vary and may include mortgages, auto loans, business loans and personal loans. A commercial bank may specialize in just one or a few types of loans.

 

Customers who deposit money into these accounts effectively lend money to the bank and are paid interest. However, the interest rate paid by the bank on money they borrow is less than the rate charged on money they lend.

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0 124
Q:

Bad loans in banking terminology are generally known as

A) NPA's B) Prime loans
C) BPO's D) Prime Assets
 
Answer & Explanation Answer: A) NPA's

Explanation:

Bad loans in banking terminology are generally known as NPA's. A Non - performing Asset (NPA) is defined as a credit facility in respect of which the interest and installment of principal have remained 'past due' for a specified period of time.

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0 128
Q:

The value of money varies

A) inversely with the price level B) directly with the price level
C) directly with the volume of employment D) directly with the interest rate
 
Answer & Explanation Answer: A) inversely with the price level

Explanation:
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