This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 15 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 15 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. You invested your allowance of $ 270 which gets .15% compounded annually for 3 years in a savings account. How much will you have in 3 years? A) $ 410.64. B) $ 270.01. C) $ 282.33. D) $ 271.22. Show Answer Correct Answer: D) $ 271.22. 2. Money market deposit accounts are included in: A) M 1 only. B) M 2 only. C) Neither M1 nor M2. D) Both M1 and M2. Show Answer Correct Answer: B) M 2 only. 3. The process of transferring money from one individual or organization to another is ..... A) Monetary policy. B) Medium of exchange. C) Financial exchange. D) Financial services. Show Answer Correct Answer: C) Financial exchange. 4. The type of account where we put them money for fixed time? A) Fixed deposit account. B) Recurring deposit account. C) Savings Account. D) Current account. Show Answer Correct Answer: A) Fixed deposit account. 5. What is "interest" ? A) Direct deposit. B) Specialized savings. C) Rate earned, compounding method, fee charged. D) None of above. Show Answer Correct Answer: C) Rate earned, compounding method, fee charged. 6. Examples of non-banking financial intermediaries A) Pusat Zakat. B) Tabung Haji. C) Insurance companies. D) Investment banks. Show Answer Correct Answer: D) Investment banks. 7. Which is not a factor you would consider when looking for a Bank or Credit union? A) Location. B) Looks. C) Free Checking. D) Services. Show Answer Correct Answer: B) Looks. 8. Banks create money by taking in deposits, giving out ....., and charging ..... A) Interest, payments. B) Loans, interest. C) Payments, loans. D) Debt, loans. Show Answer Correct Answer: B) Loans, interest. 9. Safe easy way to pay bills without having to carry cash A) Minimum balance. B) Checking account. C) Interest. D) Savings account. Show Answer Correct Answer: B) Checking account. 10. Which of the followings are not considered as regulatory bodies and policy makers? A) Bank Negara Malaysia. B) Ministry of Finance. C) Commercial banks. D) Government agencies. Show Answer Correct Answer: C) Commercial banks. 11. When you evaluate an investment, you must balance A) The interest you will ear with the prospectus you will gain. B) The liquidity involved with the risk you take. C) The risks involved with the rewards you expect to gain. D) The diversification you are making with the type of financial intermediary. Show Answer Correct Answer: C) The risks involved with the rewards you expect to gain. 12. Which type of bank account typically offers no interest? A) Savings Account. B) Money Market Account. C) Certificate of Deposit (CD). D) Checking Account. Show Answer Correct Answer: D) Checking Account. 13. A check that a bank draws on its own funds is called a A) Traveler's check. B) Cashier's check. C) Money order. D) Certified check. Show Answer Correct Answer: B) Cashier's check. 14. Why do we pay taxes in our country? A) To make our Government rich. B) To provide for Public Goods and Services. C) To provide for Goods and Services. D) None of above. Show Answer Correct Answer: B) To provide for Public Goods and Services. 15. The concept that money available at the present time is worth more than the identical sum in the future. This core principle of finance holds that provided money can earn interest, any amount of money is worth more the sooner it is received A) Time Value of Money. B) Time Variance of Money. C) Safety Deposit Box. D) The Lottery. Show Answer Correct Answer: A) Time Value of Money. 16. Which one of the following is not a typical duty of a bank teller? A) Balance the cash drawer daily. B) Prepare currency and coin for retail customers. C) Sell savings bonds. D) Manage large sums of money placed in trust with the bank according to clients'wishes. Show Answer Correct Answer: D) Manage large sums of money placed in trust with the bank according to clients'wishes. 17. The Federal Reserve ..... A) Regulates the amount of money. B) Supervises Banks. C) Provides Financial Services. D) All of the above. Show Answer Correct Answer: D) All of the above. 18. The Fed influences the money supply and interest rates in the economy to keep this low and stable- A) Supply. B) Price. C) Interest. D) Inflation. Show Answer Correct Answer: D) Inflation. 19. A service you can buy where the bank keeps your valuables safe is A) Safe deposit box. B) Vault. C) Box of safety. D) Safety chamber. Show Answer Correct Answer: A) Safe deposit box. 20. The provisions for presentation of financial Statements of banks are given under ..... Section of Banking Regulation Act, 1949. A) 31. B) 29. C) 50. D) 18. Show Answer Correct Answer: B) 29. ← 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