This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 14 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Insurance is the way a person or business is protected from: A) Losing value. B) Losing investments. C) Losing money. D) Losing interest. Show Answer Correct Answer: C) Losing money. 2. When writing a check, it is a good idea to use A) Pencil. B) Erasable pen. C) Blue or black ink pen. D) Red pen. Show Answer Correct Answer: C) Blue or black ink pen. 3. Which of the following bank(s) do(es) provide loan services to their shareholders only? A) Commercial bank. B) Foreign banks. C) Private bank. D) Co-operative banks. E) Industrial Development Bank. Show Answer Correct Answer: D) Co-operative banks. 4. Debt security that pays interest over a term of ten to thirty years. A) Treasury note. B) Treasury bill. C) Government bond. D) Security. Show Answer Correct Answer: C) Government bond. 5. What kinds of money are included in M1? A) Money market funds. B) Currency. C) Savings deposits. D) Small-time deposits. Show Answer Correct Answer: B) Currency. 6. If float averaged $ 774 million per day in 2000, and the average in 1995 was 50 percent higher, what did float average per day in 1995? A) 116.1 Million. B) 116100. C) 1.161 Billion. D) 11.61 Million. Show Answer Correct Answer: C) 1.161 Billion. 7. What service allows you to make purchases with insufficient funds but charges you a hefty fee for each purchase? A) Investment servicing. B) Checking extension. C) Overdraft protection. D) Debt forgiveness. Show Answer Correct Answer: C) Overdraft protection. 8. Purchases made with your debit card are usually deducted from your account ..... A) Immediately. B) Within 24 hours. C) At midnight. D) Within 5 business days. Show Answer Correct Answer: A) Immediately. 9. When money is saved and used at a later date. A) Medium of exchange. B) Divisible. C) Store of value. D) Payment. Show Answer Correct Answer: C) Store of value. 10. A Debit is ....., while a Credit is ..... A) +, -. B) -, +. C) Credit, debit. D) Debit, credit. Show Answer Correct Answer: A) +, -. 11. Those advances which can be recovered on time are classified as ..... A) Standard Assets. B) Sub-standard Assets. C) Doubtful Assets. D) Loss Assets. Show Answer Correct Answer: A) Standard Assets. 12. ..... are/is savings that are put to work to earn more money. A) Interest. B) EFT. C) Investments. D) Mortgages. Show Answer Correct Answer: C) Investments. 13. Many famous people don't spend their money wisely and end up in ..... A) Interest. B) Withdraw. C) Inflation. D) Bankruptcy. Show Answer Correct Answer: D) Bankruptcy. 14. Experts recommend that you accumulate enough to cover 3 to 6 ..... of expenses in your emergency fund A) Days. B) Weeks. C) Months. D) Years. Show Answer Correct Answer: C) Months. 15. Looking at your checkbook register & banks statement to make sure the bank's records match your own. If they don't this process also involves finding out exactly why. A) Balancing Your Checkbook / Reconciling Your Bank Statement. B) Bank Fraud. C) Being Extra. D) Online Banking. Show Answer Correct Answer: A) Balancing Your Checkbook / Reconciling Your Bank Statement. 16. The most common type of bank accounts A) CD's and DDA's. B) Mutual Funds. C) Money market accounts. D) Savings & Checking accounts. Show Answer Correct Answer: D) Savings & Checking accounts. 17. The delivery of financial services electronically is called: A) E-Business. B) E-Finance. C) E-Commerce. D) None of above. Show Answer Correct Answer: B) E-Finance. 18. Money function as: A) A store of value. B) A unit of account. C) A medium of exchange. D) All of these. Show Answer Correct Answer: D) All of these. 19. All of the following are improper check-writing procedures EXCEPT A) Overdraw your account whenever possible. B) Avoid making checks payable to "cash". C) Write your checks in pencil. D) Postdate all of your checks. Show Answer Correct Answer: B) Avoid making checks payable to "cash". 20. Feels A) Repayments. B) Profits. C) Fees. D) Exchange. Show Answer Correct Answer: C) Fees. ← 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