6. What is the full form of NRE account?
a) Non-Residential External account
b) Non-Residential Euro account
c) National Revenue Exchange account
d) Non-Resident External account
7. What is the purpose of a demat account?
a) To hold shares and other securities in electronic form
b) To receive salary payments
c) To withdraw cash from ATMs
d) To transfer funds between accounts
8. What is the minimum balance requirement for most savings accounts in banks?
a) $10
b) $100
c) $500
d) There is no minimum balance requirement
9. Which type of bank account allows multiple individuals to jointly operate it?
a) Single account
b) Joint account
c) Nominee account
d) Minor account
10. Which of the following is not a valid identification document to open a bank account?
a) Passport
b) Driver’s license
c) PAN card
d) Library card
