26. What is the maximum limit on cash withdrawals per day from an ATM in most banks?
a) $100
b) $200
c) $500
d) $1000
Answer: c) $500
27. What is the primary purpose of a minor account?
a) To earn interest on idle funds
b) To receive salary payments
c) To make regular monthly deposits
d) To teach children about banking and money management
Answer: d) To teach children about banking and money management
28. What is the full form of ECS in the context of bank accounts?
a) Electronic Clearing System
b) Electronic Credit System
c) Easy Cash System
d) Easy Credit System
Answer: a) Electronic Clearing System
29. What is the maximum number of nominees allowed for a bank account?
a) 1
b) 2
c) 3
d) 4
Answer: c) 3
30. Which type of account is commonly used for long-term savings goals like retirement?
a) Savings account
b) Current account
c) Fixed deposit account
d) Individual Retirement Account (IRA)
Answer: d) Individual Retirement Account (IRA)
