Types of banks in section (a) were successfully attempted by majority. In (b) (i) definition of insurance, just the meaning was required. Most candidates merely called it money paid for loss or risk. Advantages of saving money were well attempted.

The expected answers are:

(a) Types of Bank Account

(i) Current Account is cm account that holds money and allows the payment of goods/items by writing a cheque rather than using cash. It yields no interest and the holder pays service charges. It allows the account holder to enjoy loans and overdraft facility. Someone else can withdraw money on behave of the account holder.

(ii) A deposit or fixed deposit is used by a person who has no immediate need for his money. Interest is earned on the money deposited for a given specific period. Money cannot be withdrawn until maturity.
(iii) Savings account is 8l type of account where a passbook is used. Deposits and withdrawals are recorded in this passbook. The bank pays an interest on the amount deposited, while it does not charge any extra money.
(c) (i) Meaning of Insurance
A protection given/taking against risks like fire, theft, burglary, flooding etc. OR A form of saving as well as a means of providing security against financial losses arising from theft destruction of properties. Etc
(ii) Advantages of Saving
(1) For meeting future emergencies
(2) Serves as income after earnings decline or stop.
(3) Can be used for investment to build an estate or increase in wealth
(4) Prevent loss of money in case of accidents.