Economics second term mid term Test2025Jss2

Welcome to your Economics second term mid term Test2025Jss2

1. An institution that is charged with the responsibility of accepting deposits from people and safe keeping of valuables is called.......

2. The apex bank is referred to as ..

3. All these are types of commercial banks except

4. The act of carrying out financial transaction using a well secured website is called.........

5. Money borrowed from banks by individuals and businesses is called.....

6. All these are accounts run by a bank except

7. An arrangement of financial protection provided by a company against harm'the loss of property or life is called.........

8. .........is a return made on any business investment.

9. A fixed amount of money paid by the insured to the insurer is called.......

10. Another name for "restoration of Loss" is .....

SUBJECTIVE

1. Two examples of valuables which the bank can keep are ..........and..........

2. When a bank grants an individual the benefit of withdrawing money more than he has in the account is called,.......

3. A customer who wants to earn interest must open a ........... account

4. The account from which the inner can make a demand by using cheque is called.........,...

5. One type of insurance I know is

THEORY

1. Answer only one question

1. Mention any two items you must possess before you can carry out on-line banking

b. The word" premium "means

C. Outline any two functions of of commercial bank to know

2. Define insurance?

b. Outline the types of insurance you know.

c. Give one reason why insurance is necessary.

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