Interest Quiz
Choose the correct answer:
1-Interest is:
a) lots and lots
b) a little bit extra
c) just a dream
d) something you buy at the store
2- The bank will loan you money if you want to buy
a) a new house or a new car
b) candy
c) a mousetrap
d) a video game
3- The money you save at the bank
a) just sits there
b) is used to make more money
c) you never get back
d) is given away
4- The amount of interest you get is:
a) two times your balance
b) whatever the bank feels like giving
c) whatever you ask for
d) your balance X the interest rate
5- When you save money at the bank, the bank gives you
a) a bag of rocks
b) a trip to Disney World
c) extra money called interest
d) a pencil with your name on it
6- ATM stands for
a) Amy’s Terrific Mom
b) Apple Trampling Month
c) Automatic Teller Machine
d) Angel Tricks & Magic
7- EFT stands for
a) Ernie’s Funny Turtle
b) Every Fun Time
c) Edward’s Favorite Treat
d) Electronic Funds Transfer
8- An automatic teller machine is a special type of
a) computer
b) bicycle
c) trampoline
d) bank account
9- What two things do you need to get money from an ATM?
a) sticks and stones
b) An ATM card and money saved in your account
c) peanut butter and jelly
d) jokes and riddles
10- Computers make everything work
a) faster
b) slower
c) upside down
d) in circles
Answer:
1-b)-a little bit extra
2- a) a new house or a new car
3- b) is used to make more money
4- d) your balance X the interest rate
5- c) extra money called interest
6-c) Automatic Teller Machine
7- d) Electronic Funds Transfer
8- a) computer
9- b) An ATM card and money saved in
your account
your account
10-a) faster
ATM Quiz
1-Who invented the ATM?
a)-Luther George Simjian
b)-Donald C Wetzel
c)-John Shepherd-Barron
2-Who invented the first automatic cash dispenser?
a)-Luther George Simjian
b)-John Shepherd-Barron
c)-Frederick Powell-Bowles
3-Who set up the world’s first floating ATM?
a)-Bank of America
b)-State Bank of India
c)-Barclays Banks
4- Who first introduced ATMs in India?
a)-HSBC
b)-Citibank
c)-Standard Chartered Bank
5-Where is the world’s highest ATM?
a)-Siachen
b)-Lhasa
c)-Sikkim
6-When was the State Bank of India established?
a)-1969
b)-1982
c)-1955
7-Where is the highest ATM in India located?
a)-Sikkim
b)-Ladakh
c)-Siachen
8-Which bank is the largest issuer of credit cards in India?
a)-Citibank
b)-ICICI Bank
c)-Standard Chartered
9-Which is the oldest public sector bank in India?
a)-Vijaya Bank
b)-State bank of India
c)-Allahabad Bank
10-Which India bank belongs to the Hinduja brothers?
a)-Cosmos Bank
b)-Centurion Bank
c)-Indusind Bank
Answer:
1-b)-Donald C Wetzel : The first use of ATM magstripe cards is said to have been made in 1969 when Docutel installed its Docuteller machine at New York's Chemical Bank. This is the first recorded use of magnetically encoded plastic.
Donald C Wetzel is given credit for developing the machine for Docutel.
Docutel was the first to apply for a patent and is credited by the Smithsonian Museum as inventor of the ATM, even though some say it was Luther George Simjian who invented it. Simjian's had patented a similar machine in 1939, but it was not a very successful version of the ATM.
Donald C Wetzel is given credit for developing the machine for Docutel.
Docutel was the first to apply for a patent and is credited by the Smithsonian Museum as inventor of the ATM, even though some say it was Luther George Simjian who invented it. Simjian's had patented a similar machine in 1939, but it was not a very successful version of the ATM.
2- b)-John Shepherd-Barron : Inventor John Shepherd-Barron installed the world's first automatic cash dispenser at a Barclays Bank branch near London in 1967. The machine was made by De La Rue Instruments and it used paper vouchers that had to be purchased from tellers in advance. The machine was called the De La Rue Automatic Cash System, or DACS.
John Shepherd-Barron, 79, was named an Officer of the Order of the British Empire (OBE) for services to banking on December 30, 2004.
John Shepherd-Barron, 79, was named an Officer of the Order of the British Empire (OBE) for services to banking on December 30, 2004.
3- b)-State Bank of India or India's banking behemoth -- the State Bank of India -- has set up the world's first-ever floating ATM on a boat in Kerala. The boat with the ATM on board will berth at jetties in Kerala's huge backwaters through which thousands of people travel daily.
4- a)-HSBC -- the Hongkong and Shanghai Banking Corporation -- was the first bank to introduce the ATM concept in India way back in 1987. Now, most of the banks have their ATM outlets in India. The ATMs installed were from Diebold.
5- c)-Sikkim: On December 12, 2003, UTI Bank inaugurated its ATM at Thegu, near the Nathu-la Pass in Sikkim, which is at 13,200 feet above sea level. That makes it an ATM at the highest location in India. NCR Corporation provided the technology to build this heat-generating ATM, which is capable of handling rough weather and sub-zero temperatures.
The ATM caters to Indian army personnel -- especially of the 63rd Mountain Brigade, which has its headquarters there and tourists.
The ATM caters to Indian army personnel -- especially of the 63rd Mountain Brigade, which has its headquarters there and tourists.
6- c)-1955 The Imperial Bank of India was converted to State Bank of India on July 1, 1955. 92 per cent of its shares were acquired by the Reserve Bank of India and thus it became the first state owned commercial bank in the country.
7- a)-Sikkim: On December 12, 2003, UTI Bank inaugurated its ATM at Thegu, near the Nathu-la Pass in Sikkim, which is at 13,200 feet above sea level. That makes it an ATM at the highest location in India. NCR Corporation provided the technology to build this heat-generating ATM, which is capable of handling rough weather and sub-zero temperatures. The ATM caters to Indian army personnel -- especially of the 63rd Mountain Brigade, which has its headquarters there and tourists.
8- a)-Citibank : Credit cards is one of the fastest growing segments in personal banking today. Citibank, one of the biggest foreign banks in India, is regarded as the largest issuer of credit cards in the country. As of January 2004, Citibank was estimated to have issued 2.4 million cards, HDFC Bank (425,000 cards), State Bank of India (1.4 million), while ICICI Bank is said to have issued 2 million cards.
9- c)-Allahabad Bank: Allahabad bank is India's oldest public sector bank. Set up in 1865, it completes 140 years of existence next year. It has a network of over 2,000 branches and offices with a significant presence in rural and semi-urban areas.
10- c)-Indusind Bank: IndusInd bank was conceptualised by S P Hinduja, the chairman of the Hinduja Group, who also acts as the global coordinator for the bank. It was touted as the first commercial bank in the private sector when it was launched in 1994 with a capital base of Rs 100 crore.
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