If you get banned from advertising on Facebook do they also ban your actual account? Because I don't really feel like getting my personal account banned on Facebook.
No, you can still use it as normal user
They can and will at their leisure.
why can't you create another account ? That's silly
If it is your real account, it likely would not get banned if you got your advertising disabled. They tend to ban the entire account when it has a young/thin/fake profile.
However like hd2010 said... learn to create another isolated account to run your shady/cloaked campaigns. You would be silly to do that on your main account if you didn't know exactly what you were getting yourself into.
You'd probably be fine, although I've heard of it happening on a few occasions.
Don't take risk, do as what I suggested, don't worth taking.
Make another profile with your name itself and use that for your ads 
Me got banned thrice for promoting borderline shit. Yes they banned my entire advertising account + main profile but each time I got it back.
So if you love your personal account then I'd suggest you stay the fuck away from advertising through that account.
Thanks for the advice guys, just created a secondary account for advertising!
i got banned 1 time, but i can still use my facebook account without the ads.