11. Which type of account is specifically designed for senior citizens?
a) Savings account
b) Current account
c) Fixed deposit account
d) Senior citizen savings account
12. What is the primary purpose of a recurring deposit account?
a) To earn interest on idle funds
b) To receive salary payments
c) To make regular monthly deposits for a fixed duration
d) To transfer funds between accounts
13. What is the maximum amount of deposit insured by the Federal Deposit Insurance Corporation (FDIC) in the United States?
a) $10,000
b) $100,000
c) $250,000
d) $1,000,000
14. What is the maximum tenure for a fixed deposit account in most banks?
a) 1 year
b) 2 years
c) 5 years
d) 10 years
15. What does the term “ATM” stand for?
a) Automatic Teller Machine
b) Advanced Transactional Machine
c) Automated Transaction Machine
d) Automated Teller Machine
