Comparing Financial Institutions (Junior Cert Business Studies): Quizzes
📚Quizzes
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13 questions from this quiz
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Practise the questions
13 questions from this quiz
What type of business structure are commercial banks in Ireland?
What type of business structure are commercial banks in Ireland?
Profit-making businesses
Which financial institution offers the widest variety of financial products?
Which financial institution offers the widest variety of financial products?
Commercial banks
What digital advantage do commercial banks typically offer customers?
What digital advantage do commercial banks typically offer customers?
Sophisticated online platforms & apps
Why do commercial banks charge higher interest rates on loans?
Why do commercial banks charge higher interest rates on loans?
To maximise profits for shareholders
What is a key disadvantage regarding commercial bank fees?
What is a key disadvantage regarding commercial bank fees?
They add up significantly over time
Who owns credit unions?
Who owns credit unions?
Their members
What is the typical APR range for a credit union personal loan?
What is the typical APR range for a credit union personal loan?
5-8%
How do credit unions keep operational costs low?
How do credit unions keep operational costs low?
By relying on volunteer board members
What limits how much a member can borrow from a credit union?
What limits how much a member can borrow from a credit union?
Their savings history with the union
What is a credit union common bond requirement?
What is a credit union common bond requirement?
Living, working, or studying in an area
What security does An Post offer on its savings products?
What security does An Post offer on its savings products?
Guaranteed by the Irish State
How much does An Post charge for ATM withdrawals?
How much does An Post charge for ATM withdrawals?
€0.60
What advantage does An Post offer for foreign exchange?
What advantage does An Post offer for foreign exchange?
Zero commission charges