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BANKING PRODUCTS & SERVICES

1) The money that you borrow from a banking institution is


called a
A) Deposit
B) Loan or financing
C) Guarantee
2) The amount of interest payable on your savings account
opened at a banking institution is decided by
A) Association of Banks in Malaysia
B) Banking institution itself
C) Bank Negara Malaysia
3) Outstanding balances on a credit card is subject to a finance
charge (interest charge) of _______ %.
A) 1% per month or 12% per annum
B) 1.5% per month or 18% per annum
C) 2% per month or 24% per annum
4) The payment card where you are required to repay the entire
outstanding balance within the due date is called a
A) credit card
B) charge card
C) debit card
5) Which of the statement on Islamic banking is incorrect?
A) Islamic banking is only for Muslims
B) Islamic banking activity do not allow paying and
receiving of interest
C) Islamic banking promotes the principle of profit
sharing between banking institution and depositor
6) What account should you open if you need an account to
conduct basic banking transactions at minimal cost?
A) Basic current account or basic savings account
B) Savings account
C) Current account
7) In hire purchase financing, the owner of the car is

A) the hirer
B) the banking institution
C) a joint between the banking institution and hirer
8) If you issue a cheque when you do not have sufficient funds
in your account, your banking institution will:
A) clear the cheque as usual
B) return the cheque to the payee and impose a penalty on
you for issuing dishonoured cheque
C) seek clearance from Bank Negara Malaysia to clear the
cheque
9) What is the minimum age required to open a current
account?
A) 12
B) 18
No minimum age
10 If your bank account has been dormant for the last 7 years,
) where should you go to claim your money?
A) Your banking insitution
B) Bank Negara Malaysia
C) Registrar of Unclaimed Moneys
11)A joint account with a mandate that both account holders to
sign means that
A) Any deposit made must be signed by both parties
B) Any withdrawal made must be signed by both parties
C) Any deposit and withdrawal made must be signed by
both parties
12 What is the impact on a loan priced at a margin above a
) certain indicator such as base lending rate when there is a
upward increase in the base lending rate ?
A) No impact
B) Total repayment will increase
C) Total repayment will reduce
13 What is the minimum amount to open a basic savings
) account?

B) Not more than RM20


C) Not more than RM50
GENERAL

14 Which of these is not a good practice when considering a


) financial product?
A) Get information and shop around
B) Ask marketing staff for explanation on issues not clear
C) Sign up for the product that was first offered to you
15 If you need to check on fees and charges imposed by a
) banking institution, you can obtain them from:
A) Association of Banks in Malaysia
B) Website of respective banking institutions and
branches of banking institutions
C) www.duitsaku.com website
16 If you have a dispute with your banking institution, you
) should first refer the matter to:
A) Financial Mediation Bureau
B) Bank Negara Malaysia
C) The complaint unit of your banking institution
17 Will a banking institution accept a complaint lodged by you
) on behalf of another party e.g. your spouse?
A) No
B) Yes, if you can prove your relationship
C) Yes, with authorisation letter from the party concerned
18 You can exchange the following notes from Bank Negara
) Malaysia except:
A) New banknotes and coins
B) Mutilated banknotes
C) Defaced banknotes
19 The role of this institution is to provide advice on money
) management and assistance to deal with debt:
A) Financial Mediation Bureau

B) Agensi Kaunselling dan Pengurusan Kredit


C) Credit Bureau

HOUSING LOANS

1) Your banking institution will impose a penalty called "early


settlement penalty" if you repay your loan in full before the
expiry of the mandatory period. Why?
A) To pay for whatever administrative fees incurred
B) Compensate your banking institution for any losses
incurred due to your premature exit
C) Penalise you for terminating the agreement
D) Pay for the legal fees in terminating the loan
E) As withholding sum to settle any amount due from you
later
2) If you take a joint housing loan with your spouse, who is
responsible for the repayment?
A) You and your spouse are each responsible for the
repayment of half the loan
B) You and your spouse are responsible for the entire loan
C) You are responsible as your name appears first in the
loan agreement
D) You are responsible as you are earning more than your
spouse
E) Your spouse as her/his name appear first in the loan
agreement
3) Which of the following are factors you should consider when
shopping for a housing loan?
A) Housing loan rates offered
B) Fees and charges on the loan
C) Service quality of the banking institution
D) Your ability to service the loan
E) All of the above
HIRE PURCHASE

4) Below are payments you need to make to your banking


institution when you take back possession of the repossessed

motor vehicle except:


A) Outstanding arrears due to your banking institution
B) Late payment charges on the outstanding amount due
C) Out of pocket expenses such as storage, repair or
maintenance costs
D) Cost of repossession and redelivery
E) Outstanding balance of the loan
5) Your banking institution can repossess the vehicle hired to
you under the Hire Purchase Act 1967 if you default in
________.
A) 1 instalment
B) 2 successive instalments or the final instalment
C) 6 successful instalments or the final instalment
D) 12 successive instalments
6) Which of the following is incorrect about the Fourth
Schedule notice sent pursuant to the Hire Purchase Act 1967:
A) It is a notice to indicate your banking institution's
intention to repossess the vehicle hired to you
B) The notice can be sent by personal delivery or by
registered mail
C) The notice can be ignored if it was sent to your
previous address based on your banking institution's
record
D) Your banking institution can repossess the motor
vehicle anytime after 21 days from the date of the Fourth
Schedule notice was served if the overdue payments
remained unpaid
E) Your banking institution cannot repossessed your
motor vehicle if it has not sent the Fourth Schedule to you
CREDIT CARD

7) Which of these should be practiced when using a credit card?


A) Pay only the minimum balance since it is allowed
B) Taking advance from credit card since it is faster and
less hassle
C) Memorise your PIN number and do not leave your PIN
number in your wallet
D) Maintain as many cards as possible for convenience
E) Throw away the receipt signed by you immediately
after receiving from the cashier

8) The following are consequences of paying only the minimum


amount of repayment for credit card balances except:
A) You will receive cash rebate from your card issuer
B) You will incur more interest charges
C) It will take a longer time for you to repay your balance
D) Your outstanding balance will increase rapidly because
of the interest charged
E) You are likely to have financial problems if you
continue to service your debt in this manner
9) Which of the following relating to credit card fees and
charges is incorrect?
A) A late payment fee is imposed when you fail to pay at
least the minimum monthly payment by the due date.
B) Finance charges are charges imposed on the
outstanding balances which you have not settled after the
payment due date.
C) Annual fee is a flat fee which is payable only when
you use the card
D) Cash advance fee is imposed on the amount of cash
withdrawn from the transaction date or when the amount
is posted to your credit card.
E) All payment outstanding including late payment fee
which is not paid by due date will be subject to finance
charges
DEPOSIT ACCOUNTS

10 What are the consequences of issuing cheques if you do not


) have enough funds in your account?
A) Your reputation may be affected among your suppliers.
B) Your banking institution may impose a penalty on you
for issuing a dishonoured cheque.
C) Your banking institution may close your account
maintained with them.
D) Your may have difficulties in opening a current
account with another banking institution.
E) All of the above.
11)Which of the following activities cannot be carried out by
you if you have a savings account?
A) Deposit cash and cheques.

B) Withdraw using ATM.


C) Apply for internet banking facilities.
D) Issue a cheque.
E) Apply for a standing instruction.
12 Which of the following statements is incorrect regarding a
) basic current account?
A) Initial amount to open the account is not more than
RM500
B) The maximum amount of service charge that can be
imposed on a basic current account with an average
balance of less than RM1,000 during the half year is
RM10.
C) All residents and Malaysians are eligible to open a
basic current account
D) You need an introducer before you can open the
account
E) An application to open a basic current account will not
be subject to the normal processing by your banking
institution
CREDIT BUREAU

13
What is the role of the Credit Bureau?
)
A) Blacklist borrowers with bad credit record.
B) Collects credit information on borrowers and supplies
the information back to lenders
C) Gives credit assessment of borrowers
D) Dictates credit decisions of financial institutions
E) Reports to Bank Negara Malaysia the status of your
loan
14
Which of the following about Credit Bureau is correct?
)
A) The Credit Bureau is legally empowered to collect
credit information about borrowers
B) The Credit Bureau collects information on guarantors
C) The Credit Bureau will furnish borrowers information
to any applicant
D) The Credit Bureau has the power to amend incorrect
data in its database
E) The Credit Bureau does not allow the public to check
their credit record with Credit Bureau

MONEY MANAGEMENT

15
Which of the following statements is incorrect?
)
A) You should start to save early to benefit from the effect
of compound interest.
B) An investment with higher returns will also have
higher risks
C) Short term fluctuations in market value can be
expected even with good investments
D) You may still invest in the share market even if you
foresee that you may need the funds in a month's time
E) Financial planning is one of the important process in
managing your money
16 Which of the following will not help you in reducing your
) budget deficit?
A) Trimming of unnecessary expenses
B) Create a spending plan and monitor the expenses
C) Borrow from friends to meet daily expenses
D) Taking a money management course
E) Buy in bulk or during sale season
17 Which of the following investments should be avoided as it
) is too good to be true?
A) Investment in a bond with normal return and potential
risk where the income is tax free
B) Investment in a scheme that offers return well above
the market rate with no risk
C) Investment in a principal guaranteed structured
investment with potential risks
D) Investment in a government guaranteed bond
E) Investment in Bank Negara Malaysia savings bond
18 Which of the above will affect your chances of getting a
) loan?
A) Asking your banking institution for additional loans
B) Refinancing your housing loan
C) Having overdue loan instalment exceeding 60 days
D) Having more than one banking account
E) Having complained to the banking institution about its

customer service previously.


19 Below are places where you can get help to deal with your
) banking problems except:
A) Financial Mediation Bureau
B) Agensi Kaunselling dan Pengurusan Kredit
C) Laman Informasi Kidmat Dan Nasihat Bank Negara
Malaysia (BNM LINK)
D) Complaint unit of banking institutions
E) Perbadanan Insurans Deposit Malaysia
20 Which of these formed the basic principles of Islamic
) banking?
A) Profit/loss sharing and interest payment
B) Profit/loss sharing and penalty
C) Profit/loss sharing and prohibition of interest
D) Lending and prohibition of interest
E) Savings and profit/loss sharing