Which of the Following Is Not Expected from a Bank

question 12

Multiple Choice

Which of the following is not expected from a bank customer to meet their obligation to protect their PIN or password?

• A)The customer must not tell the PIN or password to another person.
• B)The customer should choose a PIN or password that is easy to recall (e.g.their birthdate).
• C)The customer must not write the PIN on the card or keep it stored near the card.
• D)The customer must not act with extreme carelessness when recording their pin.

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Definitions:

Reserve Rate

The fraction of depositors' balances banks must have on hand as cash, a requirement determined by the central bank.

Gold Coins

Metallic forms of money minted from gold, used historically and currently as investment or collectible items.

Transactions Demand

The demand for money as a medium of exchange, reflecting the desire to hold money for everyday transactions.

Banks Create Money

The process by which commercial banks lend more than the reserves they hold, effectively creating new money through the issuance of loans.