BUSINESS STUDIES FORM ONE MID-TERM EXAMS

1. Describe the following terms:

i. Banking
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
ii. Insurance
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
iii. Insurable risk
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
iv. Indemnity
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________
2. Mention three importance of banking.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
3. Why is reserve bank also known as Central bank?
 ________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
4. Give three major functions of the reserve bank.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
5. Give three major functions of the commercial bank.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
6. Mention four examples of commercial banks in Malawi.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
7. Differentiate between a current account and a fixed deposit account.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
8. Describe two types of insurance.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
9. Discuss pros and cons of insurance policies in Malawi (2 pros and 2 cons).
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
10. Write a brief account of the evolution of banking.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

THE END