Various Saving Schemes and Products


41. Which of the following is NOT a type of electronic payment method?

a) Credit card payment

b) Debit card payment

c) Cash payment

d) Mobile payment

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42. What is the purpose of a business overdraft facility?

a) To save for short-term expenses

b) To make online purchases

c) To provide funding for higher education expenses

d) To provide a source of funds when a business account becomes overdrawn

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43. Which of the following is NOT a type of investment account for minors?

a) Coverdell Education Savings Account (ESA)

b) Custodial account (UTMA/UGMA)

c) 401(k) account

d) 529 savings plan

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44. What is the purpose of a corporate bond?

a) To provide funding for personal needs

b) To provide funding for higher education expenses

c) To provide a source of funds for corporations

d) To provide funding for home renovations and repairs

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45. Which of the following is NOT a type of online banking service?

a) Checking account

b) Savings account

c) Money transfer

d) Bill payment

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