This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 11 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 11 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The U.S. corporation insuring deposits in the U.S. against bank failure. A) Federal Deposit Insurance Corporation. B) National Credit Union Association. C) Savings and loan associations. D) None of above. Show Answer Correct Answer: A) Federal Deposit Insurance Corporation. 2. Which bank is called lender of last resort? A) Commercial bank. B) Agricultural bank. C) Central bank. D) None of above. Show Answer Correct Answer: C) Central bank. 3. Which non-deposit institution provide loans for buying a home or other real estate? A) Mortgage Companies. B) Check Cashing Outlets. C) Pawnshops. D) Investment Companies. Show Answer Correct Answer: A) Mortgage Companies. 4. The cashier of a bank should not have access to ..... of a bank A) Currency counting machine. B) Cash Vault. C) Ledger Accounts. D) Attendance register. Show Answer Correct Answer: C) Ledger Accounts. 5. Financial institutions that provide traditional checking and savings accounts for individuals and business. They also provide loans. Both Banks & Credit Unions are examples. A) Depository Institution. B) The Stock Market. C) Payday Lenders. D) Check Cashing Company. Show Answer Correct Answer: A) Depository Institution. 6. What is paying for something with money that you borrow and must pay back, usually with interest? A) Income. B) Credit. C) Interest. D) Lend. Show Answer Correct Answer: B) Credit. 7. Payment transactions that can be completed with no physical connection between the payment device and the physical point of sale terminal or store clerk A) Contactless payment. B) Credit union. C) Debit card. D) Depository institutions. Show Answer Correct Answer: A) Contactless payment. 8. You have a tax-deferred retirement account. At what age can you start withdrawing money? A) 59 1/2. B) 65. C) 62. D) At any age. Show Answer Correct Answer: A) 59 1/2. 9. A loan where an asset stands good for the loan and is not based off of the borrower's creditworthiness is a: A) Car Loan. B) Collateralized Loan. C) Cash Loan. D) Mortgage Loan. Show Answer Correct Answer: B) Collateralized Loan. 10. A summary of all deposits, charges, and withdrawals sent to you monthly. A) Endorse. B) Overdrawn. C) Debit card. D) Statement. Show Answer Correct Answer: D) Statement. 11. What is function banker to the bank? A) Management of banking system. B) Lender of last resort. C) Financial institution. D) Management of government accounts. Show Answer Correct Answer: B) Lender of last resort. 12. Bank that receives its charter from the star in which it operates A) Account. B) State-chartered bank. C) Service. D) None of above. Show Answer Correct Answer: B) State-chartered bank. 13. How can I protect myself from identity theft? A) Give my confidential info to my friends and family. B) Keep all my confidential information to myself. C) Install anti-virus software from my computer. D) Write down my confidential information on my twitter bio. Show Answer Correct Answer: B) Keep all my confidential information to myself. 14. This is money that has value because the substance it is made of has value like gold and silver. A) Characteristics of money. B) Fiat money. C) Representative money. D) Commodity money. Show Answer Correct Answer: D) Commodity money. 15. Writing only your name on the back of a check is called which type of endorsement? A) Blank Endorsement. B) Special Endorsement. C) Restrictive Endorsement. D) Plain Endorsement. Show Answer Correct Answer: A) Blank Endorsement. 16. Investing is best for ..... A) Short-term financial goals, like building an emergency fund. B) Earning a little interest while keeping your money safe. C) Long-term financial goals, like paying for retirement. D) Guaranteed fast growth on your money. Show Answer Correct Answer: C) Long-term financial goals, like paying for retirement. 17. Daycare can be very expensive! My friend pays $ 972 every month for her 3 year old daughter. This is considered a A) Fixed Expense. B) Variable Expense. C) Discretionary Expense. D) Income. Show Answer Correct Answer: A) Fixed Expense. 18. Which of the following statements about investing is TRUE? A) On average, putting money in a savings account earns a higher return than investing money in the stockmarket. B) Investing is riskier than putting money in a savings accounts. C) Investing is best for short-term financial goals. D) Investing is a guaranteed way to make money. Show Answer Correct Answer: B) Investing is riskier than putting money in a savings accounts. 19. To have a ..... at the end of the month, I have to make sure I don't spend more than I earn and have some money to save at the end of the month. A) Income. B) Expense. C) Balanced Budget. D) Savings. Show Answer Correct Answer: C) Balanced Budget. 20. Which of the following are examples of types of savings vehicles? A) Certificate of Deposit (CD). B) Money Market Account. C) Savings Account. D) All of the above. Show Answer Correct Answer: D) All of the above. ← PreviousNext →Related QuizzesBanking QuizzesBanking And Financial Institutions Quiz 1Banking And Financial Institutions Quiz 2Banking And Financial Institutions Quiz 3Banking And Financial Institutions Quiz 4Banking And Financial Institutions Quiz 5Banking And Financial Institutions Quiz 6Banking And Financial Institutions Quiz 7Banking And Financial Institutions Quiz 8Banking And Financial Institutions Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books