Correct Answer: To act as a payment agent for its customers, and to borrow and lend money
Explanation:
Note: This Question is unanswered, help us to find answer for this one
Retail Banking Industry And Processes Skill Assessment
Your Skill Level: Poor
Retake Quizzes to improve it
More Retail Banking Industry And Processes MCQ Questions
What is meant by the term "risk based pricing"?
What does the term "Straight Paper" denote?
What is a holder in due course?
What is the term which describes illegally benefiting from float e. g. by depositing and drawing checks between accounts at two or more banks?
What type of account would someone put their money into if they wanted to earn a high rate of return and not to have access to their money for a fixed period e.g. 90 days?
What does the term "Debenture" imply?
Why is a negotiable instrument a "special contract"?
What is the process which the Federal Reserve uses to influence the availability and cost of money and credit called?
What is the signing of a check on its back by the payee referred to as?
How is a savings account different from a certificate of deposit?