Q1. Choose the correct answers from the following options below.
i. _______________ have both private and business customers.
a.
b.
c.
d.
Commercial Bank
ATM
Telephone banking
None of these
ii. ATM is use to obtain ______________.
a.
b.
c.
d.
Coins
Cheque
Bonds
Cash
iii. Internet banking provides _________ hour’s access to the account.
a.
b.
c.
d.
12
24
11
None of these
iv. PIN stands for________________________.
a.
b.
c.
d.
Personal Identical numbers
Personal Identification numbers
Personal Identification numerals
None of these
v. ____________ card is used to buy things today and pay for them later.
a.
b.
c.
d.
ATM
Debit
Credit
All of these
[ /10]
vi. Which of the following is not the Function of money. ________________
a.
b.
c.
d.
Store of value
Unit of account
Medium of exchange
Paying in slip
vii. In order to conduct banking online a customer must ___________ using the banks
website.
a.
b.
c.
d.
viii.
Register
Vist
Call
None of these
Yen is the currency of _____________,
a.
b.
c.
d.
China
Indonesia
Japan
Philippines
ix. __________________ Banks are established in foreign countries and have branches in
other countries.
a.
b.
c.
d.
Private Sector
Foreign
Public sector
None of these
x. Debit card can be issued without having account in the bank.
a. True
b. False
Q2. Use the exchange rates in the table to help you solve the word problems. Show your
work in the space provided.
[ /05]
USD
GBP
CAD
USD ($)
1
0.63
1.09
GBP (£)
1.60
1
1.74
CAD ($)
0.92
0.58
1
i.
Jack lives in Ottawa, Ontario, Canada. His uncle lives in London, England. For his
birthday, Jack received £20 from his uncle. How many Canadian dollars can he buy with
his birthday money?
ii.
William has $11 USD. The video game he wants to buy costs $10 CAD. Does he have
enough money to buy the game? If not, how much more US money does he need?
Q3. Identify the Countries these following currencies belong to.
Currency code
KRW
BRL
RMB
NZD
SAR
Country
[ /05]
Q4. Define any Ten of the Following terms.
i.
[
/10]
Shareholders
______________________________________________________________________________
______________________________________________________________________________
ii.
Opportunity cost
______________________________________________________________________________
______________________________________________________________________________
iii.
Unincorporated business
______________________________________________________________________________
______________________________________________________________________________
iv.
Saving Account
______________________________________________________________________________
______________________________________________________________________________
v.
Current Account
______________________________________________________________________________
______________________________________________________________________________
vi.
Dividends
______________________________________________________________________________
______________________________________________________________________________
vii.
Paying in Slip
______________________________________________________________________________
______________________________________________________________________________
viii.
Bank
______________________________________________________________________________
______________________________________________________________________________
ix.
Bank Statement
______________________________________________________________________________
______________________________________________________________________________
x.
Joint venture
______________________________________________________________________________
______________________________________________________________________________
xi.
Exchange Rate
______________________________________________________________________________
______________________________________________________________________________
xii.
Money
______________________________________________________________________________
______________________________________________________________________________
Q4. Answer the following short questions.
i.
[ /10]
State any two roles of central bank.
a. __________________________________________________________________
__________________________________________________________________
b. __________________________________________________________________
__________________________________________________________________
ii.
Write two advantages of public corporations.
a. __________________________________________________________________
__________________________________________________________________
b. __________________________________________________________________
__________________________________________________________________
iii.
State any two disadvantaged of sole trading.
a. __________________________________________________________________
__________________________________________________________________
b. __________________________________________________________________
__________________________________________________________________
iv.
Write any two benefits of having current account.
a. __________________________________________________________________
__________________________________________________________________
b. __________________________________________________________________
__________________________________________________________________
v.
Write any two secondary functions of commercial bank.
a. _____________________________________________________________________
b. _____________________________________________________________________
Q5. Answer any Four the following detailed questions.
i.
[ /20]
How many types of commercial Banks are there? Name them and explain the Primary
and secondary functions of commercial bank.
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
ii.
Differentiate between Private limited companies and Public limited companies.
Private limited companies
Public limited companies
iii.
Analyze the benefits in a franchise to a franchisor and a franchisee.
To the franchisor
To the franchisee
Benefits
iv.
What is specialization? Write any two advantages and two disadvantages of
specialization.
Specialization
___________________________________________________________________________
___________________________________________________________________________
Advantages of Specialization
a. _____________________________________________________________________
_____________________________________________________________________
b. _____________________________________________________________________
_____________________________________________________________________
Disadvantages of Specialization
a. _____________________________________________________________________
_____________________________________________________________________
b. _____________________________________________________________________
_____________________________________________________________________
v.
List down five Private limited companies and five Public limited companies.
Private limited companies
Public limited companies.