5.2. Banking
A subsection of Commerce, 7100, through 5. Aids to trade that support commerce
Listing 10 of 152 questions
Fatima has had a bank current account for several years. State three advantages to Fatima of having a bank current account. Fatima wishes to undertake 24-hour banking. Is she able to do this? Give reasons for your answer. Fatima is able to use the following bank services to pay bills: BANK DRAFTS CHEQUES CREDIT TRANSFERS DIRECT DEBITS State, with reasons, which bank service Fatima should use to pay each of the following: mortgage payments which vary with changes in interest rates. settlement of a hotel bill. payment for a secondhand car when she is not known to the seller. Fatima has an overdraft facility on her bank current account. Her recent bank statement shows that she is $2000 overdrawn. The following transactions have taken place since the bank statement was issued: • her salary of $1800 per month has been credited to her account • a cheque for $50 has been debited from her account • a cheque for $500 has been paid into her account. Calculate the balance on her bank current account. Show your working.
7100_s07_qp_2
THEORY
2007
Paper 2, Variant 0
View
For Examiner's Use The following sentences appeared in an advertisement for a commercial bank. Speed through your banking needs with our range of automated services. Choose to receive statements electronically. Use our ATM machines to obtain cash. Manage your financial affairs at any time. Fig. 3 Use the information given in Fig. 3 to help you to answer the following questions. You wish to use an ATM at the bank where you have an account. What will you need? You can obtain cash from an ATM. State two other services provided by ATMs. Service 1 Service 2 Explain the differences between a bank statement and a statement of account. For Examiner's Use Describe three services you can obtain using Internet or telephone banking. Service 1 Service 2 Service 3 ‘The provision of bank automated services means the end of bank branches in town and city centres.’ Discuss this statement. Do you agree? Give reasons for your answer.
7100_s09_qp_2
THEORY
2009
Paper 2, Variant 0
View
Questions Discovered
152