This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 13 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The item most likely to be stored in a safe-deposit box are A) Cash. B) Bonds and stock certificates. C) Checkbooks. D) Deposit slips for a savings account. Show Answer Correct Answer: B) Bonds and stock certificates. 2. You will need a PIN to use a(n) ..... A) Checking account. B) Debit card. C) NOW account. D) Personal check. Show Answer Correct Answer: B) Debit card. 3. Apps that many depository institutions have developed that allow online banking access from devices such as smartphones, tablets and other mobile devices A) App store. B) Online banking. C) Mobile banking. D) Savings banking. Show Answer Correct Answer: C) Mobile banking. 4. An automated service called ....., payments such as your paycheck or a tax refund can be electronically transferred into the account you chose. A) Direct deposit. B) Automatic transfer. C) Cancelled check. D) Automatic deposit. Show Answer Correct Answer: A) Direct deposit. 5. Why do some people invest in hedge funds? A) Because they want a fund that doesn't diversify. B) Because they want to invest a small amount of money. C) Because they want a fund with less risk. D) Because they might may a huge profit. Show Answer Correct Answer: D) Because they might may a huge profit. 6. A bank that provides financial services to businesses is a: A) Commercial Bank. B) Credit Union. C) Business Bank. D) Industrial Bank. Show Answer Correct Answer: A) Commercial Bank. 7. What are profits that are earned from the sale of an asset like a stock called? A) Income profits. B) Capital profits. C) Small gains. D) Capital gains. Show Answer Correct Answer: D) Capital gains. 8. Which is NOT an example of a Financial Institution for consumers? A) Banks. B) Credit Unions. C) The Federal Reserve. D) Insurance Companies. Show Answer Correct Answer: C) The Federal Reserve. 9. What is a Certificate of Deposit (CD)? A) An interest-earning deposit that requires the funds to remain deposited for a fixed term. Withdrawal of the funds before the term expires results in a financial penalty. B) An interest-earning account that you can use to transfer money to checking accounts. C) An account where you can have your paychecks directly deposited. D) None of above. Show Answer Correct Answer: A) An interest-earning deposit that requires the funds to remain deposited for a fixed term. Withdrawal of the funds before the term expires results in a financial penalty. 10. If a person makes a deposit of $ 10, 000 or more into a bank account, the bank must notify the ..... A) U.S. Treasury Department. B) U.S. Mint. C) Federal Reserve. D) FBI. Show Answer Correct Answer: A) U.S. Treasury Department. 11. Almost ..... percent of U.S. banks are FDIC members. A) 50. B) 75. C) 90. D) 99. Show Answer Correct Answer: D) 99. 12. An example of a withdraw is: A) In Person. B) At an ATM. C) Writing a Check. D) All the Above. Show Answer Correct Answer: D) All the Above. 13. What is one type of deduction that employers are required to take from an employee'spaycheck? A) Social security. B) Estate tax. C) Sales tax. D) Discretionary tax. Show Answer Correct Answer: A) Social security. 14. Why is it important to keep an accurate/balanced transaction register? A) So you know exactly how much money you have. B) Its not really important if you use online banking. C) So you can have proof of payment on your bills. D) So you can have more money. Show Answer Correct Answer: A) So you know exactly how much money you have. 15. Which type of bond might have been used to fund the construction of your school? A) Treasury bond. B) Municipal bond. C) Junk bond. D) Corporate bond. Show Answer Correct Answer: B) Municipal bond. 16. What is a family most likely to do if they want to purchase a home? A) Use a credit card. B) Get a mortgage. C) Open a checking account. D) Purchase a certificate of deposit. Show Answer Correct Answer: B) Get a mortgage. 17. If you write a check on a bank to purchase a used Honda Civic, you are using money as: A) A medium of exchange. B) A store of value. C) A unit of account. D) An economic investment. Show Answer Correct Answer: A) A medium of exchange. 18. Some checking accounts may require an individual do which of the following? A) Provide proof of income. B) Make an opening deposit. C) Pay a fine. D) Apply for a personal loan. Show Answer Correct Answer: B) Make an opening deposit. 19. Typically a not-for-profit institution A) Credit Unions. B) Commercial banks. C) Capital investments. D) CD's & DDA's. Show Answer Correct Answer: A) Credit Unions. 20. The actions, words, behavior, or tacit approval of the Prophet Muhammad SAW is considered to be the A) Quran. B) Sunnah. C) Qiyas. D) Ijma'. Show Answer Correct Answer: B) Sunnah. ← 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