Legum | Quiz on Overview of Banks, Specialised Deposit-Taking Institutions, Financial Holding Company, and Deposit Taking Microfinance Institution

Quiz on Overview of Banks, Specialised Deposit-Taking Institutions, Financial Holding Company, and Deposit Taking Microfinance Institution

1. Which of the following cases best define a bank?

N. Joachimson v Swiss Bank Corporation (1921) 3 KB 110

United Dominion Trust Ltd v. Kirkwood [1966] 1 All ER 968

Foley v. Hill (1848) 2 HLC 28

Tournier v National Provincial and Union Bank of England [1924] 1 KB 461

2. Which of the following provisions defines a bank?

Section 86 of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930)

Section 156 of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930)

Section 157 of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930)

Section 85 of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930)

3. Per …………………………., a person other than a company holding a banking licence, shall not hold itself out as a bank or use the word “bank” or any of its derivatives in any language

Section 21

Section 7

Section 20

Section 23

4. Under Act 930, an entity qualifies as a bank if it has the following characteristics except

It is a body corporate.

It engages in the deposit-taking business.

It has been issued with a banking licence.

It gives loans to customers and accepts deposits.

5. A bank is not different from a specialised deposit taking institution.

False

True

6. Which of the following best defines a bank under Act 930?

A body corporate which engages in the deposit-taking business and is issued with a licence to engage in the deposit-taking business in accordance with this Act.

A company that controls a bank or a specialised deposit-taking institution which is subject to registration requirements under this Act;

A body corporate which engages in the deposit-taking business and is issued with a banking licence in accordance with this Act;

A specialised deposit-taking institution engaged primarily in the provision of deposit-taking and credit services targeted at low income clients and the economically active poor;

Restart

Get Results

Contact Us:

Chat on Whatsapp Call us on: +233245401099

Email: legumghana@gmail.com

We would appreciate your feedback on the platform, feature suggestions, criticisms, and support.

Useful Links:

Obtain Access Key

Submit Access Key

View Access Key

View all Courses

Constitutional Law

Law of Contract

Ghana Legal System

Immovable Property Law

Briefs Links:

Law of Contract Case Briefs

Constitutional Law Case Briefs

Immovable Property Case Briefs

Commerecial Law Case Briefs

Law of Torts Case Briefs

Criminal Law Case Briefs

Copyright © 2021 - 2026

Version: 5.0.0