Essential Banking Terminology Basics Quiz

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Essential Banking Terminology Basics: a General level Bank Exam Prep quiz. Test your knowledge with 11 questions!
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Questions

Question 1
What is the original amount of money borrowed called?
A Interest
B Installment
C Principal
D Dividend
Question 2
What is the extra money paid for using borrowed funds called?
A Interest
B Commission
C Penalty
D Principal
Question 3
Which type of interest remains the same over time?
A Compound interest
B Variable interest
C Simple interest
D Floating interest
Question 4
What is a 'Rate of Interest'?
A The bank branch location
B The cost of borrowing money
C The account holder name
D The total amount of debt
Question 5
What is 'Principal' in a savings account?
A The original deposit
B The interest earned
C The tax amount
D The monthly fee

📋 This quiz has 11 questions in total.

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