Banking Fees (Grade 12 NSC Matric Mathematical Literacy): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is the main purpose of banking fees?
What is the main purpose of banking fees?
Cover operational costs & generate profit
Why are monthly banking fees considered predictable costs?
Why are monthly banking fees considered predictable costs?
They're the same amount each month
Which cash withdrawal method is typically the most expensive?
Which cash withdrawal method is typically the most expensive?
Over-the-counter at your bank branch
How much more expensive can other banks' ATMs be compared to your own bank's ATMs?
How much more expensive can other banks' ATMs be compared to your own bank's ATMs?
2-3 times more
Which balance enquiry method is typically free?
Which balance enquiry method is typically free?
Self-service online or mobile banking
How do you calculate total monthly banking fees?
How do you calculate total monthly banking fees?
Monthly fees + Transaction fees
If fees are R54 and balance is R650, what percentage is spent on fees?
If fees are R54 and balance is R650, what percentage is spent on fees?
8.3%
What does it indicate if your monthly banking fees exceed 5% of your account balance?
What does it indicate if your monthly banking fees exceed 5% of your account balance?
Need to reduce costs or switch banks
Which transaction method typically has the lowest or no fees?
Which transaction method typically has the lowest or no fees?
Electronic transfers
What is the main benefit of using online and mobile banking?
What is the main benefit of using online and mobile banking?
Lower or no fees compared to branches