Types of banks, functions, and departments in banking. Commercial, specialized, central banks explained. CAMEL model and more.

Question 1

What are the types of banks mentioned in the text?

Accepted Answer

All of the above

Question 2

What is the main function of commercial banks?

Accepted Answer

Accepting & protecting money for depositors

Question 3

Which department is part of bank accounting?

Accepted Answer

Time Deposit Department

Question 4

What does the Central Bank do?

Accepted Answer

Regulates currency supply

Question 5

What is the CAMEL Model used for?

Accepted Answer

Bank performance analysis

Question 6

What does a specialized bank focus on?

Accepted Answer

Both A and B

Question 7

What does a commercial bank do with customers' deposits?

Accepted Answer

Invests

Question 8

Which bank serves as a clearing house among other banks?

Accepted Answer

Central Bank

Question 9

What is the purpose of the Letter of Credit Department?

Accepted Answer

Opening letters of credit

Question 10

What department deals with bank performance analysis?

Accepted Answer

Analysis Department