31. Which type of bank deposit account typically earns the highest interest?
a) Demand deposit account
b) Negotiable order of withdrawal account
c) Money market account
d) Time deposit account
32. Which term is used for the process of converting a physical cheque into electronic form for depositing?
a) Cheque truncation
b) Cheque endorsement
c) Cheque kiting
d) Cheque clearing
33. Which type of bank account requires the depositor to give advance notice for large withdrawals?
a) Savings account
b) Current account
c) Money market account
d) Negotiable order of withdrawal account
34. Which type of bank deposit account is typically used for foreign currency transactions?
a) Savings account
b) Current account
c) Foreign currency account
d) Money market account
35. What is the term used for a bank’s refusal to honor a cheque due to insufficient funds in the account?
a) Non-sufficient funds (NSF)
b) Overdraft protection
c) Stop payment
d) Interbank transfer
