Current accounts - SS2 Commerce Past Questions and Answers (page 1)

1

What type of account is designed for day-to-day financial transactions?

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A

Savings account

B

Fixed deposit account

C

Current account

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2

Which of the following is required to open a current account?

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A

Valid identification documents

B

Proof of address

C

All of the above

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3

What does the bank consider when granting a loan?

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A

Credit history

B

Income and employment stability

C

All of the above

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4

What can be used as collateral for a loan?

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A

Vehicles

B

Property

C

All of the above

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5

What does the bank evaluate when determining loan repayment capacity?

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A

Credit history

B

Financial statements

C

All of the above

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6

What is the primary purpose of a current account?

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7

Why does a bank manager consider credit history when granting a loan?

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Current accounts - SS2 Commerce Past Questions and Answers - page 1