Bank-PO (IBPS) General-Awareness Banking and Finance Revision (Page 3 of 40)

Audit Risk

The risk of giving an incorrect audit opinion.

Automated Banking Machines (ABMs)

Terminals that allow bank customers to perform many everyday banking tasks, e. g. , deposits, withdrawals, bill payments and transfers between accounts.

Automated Teller Machines (ATMs)

A computerized machine used for banking transactions, e. g. depositing or withdrawing money, making balance/transaction inquiries and transfers; operated through magnetic plastic cards with the held of personal identification numbers (PINs).

Available Balance

The portion of a customer’s account balance having no restrictions from the bank and available for immediate withdrawals.

Average life

Weighted average of the maturities of various loans or bonds after taking into account agreed amortization’s.

Back-end value

Amount paid to the remaining shareholders in the second stage of a two-tier or partial tender offer.

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