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Summary BAN1501 Assignment 2 for semester 1 & 2 of 2021
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BAN1501ASSIGNMENT 2 FOR SEMESTER 1 & 2 OF 2021
UNIQUE NUMBER: 761687
1 4 Reference: Study guide p 51
An overdraft or advance is an amount by which the debit side of an
account exceeds the balance of the account (normally a current
account), in other words the customer withdraws more money than is in
the account.
, 2 2
3 3 Reference: Study guide p 21 – 22
Banks have singled out four important issues for successful marketing
(a) Strategy
(b) Services: price and productivity
(c) The selling role
(d) Market segmentation
4 2
5 3 Reference: Study guide p 9
The major leaders are ABSA, Standard Bank, Nedbank and FNB Bank.
6 2 Reference: Study guide p 63
If a person cannot repay the money that he/she has borrowed, the bank
will claim the asset that the customer has given as security.
7 4 Reference: Study guide p 68
A mortgage bond is the transfer of an interest in land or property to a
lender as security for a debt.
8 1 Reference: Study guide p 51
Revolving credit can be explained as a financing arrangement that allows
a business customer or client to borrow up to a specified limit, repay all
or a portion of the loan, and re-borrow as necessary until the credit line
matures.
9 3 Reference: Study guide p 53
Factoring involves using the shorter-term assets of a business that are
expected to roll over (be converted) into cash in the near future, such as
accounts receivable and inventory, in order to raise more working capital.
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