Financial institutions and their services
Financial institutions keep people’s savings, lend money, make payments and help people invest. Paper 1 asks about what the central bank does and which service a customer needs almost every year.
By the end of this page you can
- Tell the central bank, commercial banks and credit unions apart
- Match a customer’s need to the right bank service
- Define current account, fixed deposit, standing order and stock exchange
- Distinguish the central bank’s functions from a commercial bank’s
Goals tick themselves off as you try the activities below.
Photo: Sascha Kohlmann, CC BY-SA 3.0, via Wikimedia Commons. Cropped (a photo booth’s sign cropped off), the bank’s logos blurred, resized, JPEG q72.
A cash machine is one of many services a commercial bank offers its customers.
How often it shows up in past papers
All papers22 of 23 papers
Last 55 of 5 · 2023–2026
Paper 1 counts come from our past-paper bank of CSEC Principles of Business Paper 1s. The last-5 row shows how often it came up in the five most recent papers.
Inside this topic
- Who keeps the moneyLocked
- A bank’s servicesLocked
- Key termsLocked
- Test yourselfmarkedLocked
- Practise for real · 36 past questionsLocked