This question on explanation of terms in consumer education was generally poorly answered. They were required to make distinction between those word, rather they used them literarily e.g. A payee is one who pays instead of a person that money is paid to. They said statement of account is a document of gain and loss by a company instead of a bank document showing the bank transactions for a particular period. Candidates wrote savings account as an account that is saved in the bank instead of record of money saved in the bank by the account owner.