This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 22 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 22 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The most common position at banks is called A) Loan officer. B) Teller. C) Customer service representative (CSR). D) Financial planner. Show Answer Correct Answer: B) Teller. 2. Offer loans with high finance charges to desperate borrowers. A) Pawnshops. B) Banks. C) Savings and loan Companies. D) Credit Unions. Show Answer Correct Answer: A) Pawnshops. 3. U.S. government agency which insures your bank account up to $ 250, 000 A) IRS Protection. B) DHS Protection. C) FDIC Protection. D) SS Protection. Show Answer Correct Answer: C) FDIC Protection. 4. A signature on the back of a check that entitles the payee to either receive payment or transfer it to someone else A) Endorsement. B) Signature. C) Verification. D) Autograph. Show Answer Correct Answer: A) Endorsement. 5. Mobicash Easy is a mobile wallet which offers facilities such as fund transfer, bill payment, balance enquiry, mini statement, mobile top-ups and DTH recharge. This facility has been introduced by which of the following banks? A) State Bank of india. B) HDFC Bank. C) Corporation Bank. D) Union Bank of India. E) ICICI Bank. Show Answer Correct Answer: A) State Bank of india. 6. A(n) ..... is an example of a nondepository financial institution. A) Credit union. B) Mutual savings bank. C) Insurance company. D) Commercial bank. Show Answer Correct Answer: C) Insurance company. 7. A non profit financial cooperative owned by and operated for the benefit of its members; services offered only to its members. A) Commercial Banks. B) Credit Union. C) Savings and Loans Associations. D) Federal Deposit Insurance Corporation. Show Answer Correct Answer: B) Credit Union. 8. Which of the following is generally true about financial intermediaries? A) Intermediaries are government agencies. B) Intermediaries channel money from investors to savers. C) Intermediaries increase the level of risk for investors. D) Intermediaries provide information to savers and investors. Show Answer Correct Answer: D) Intermediaries provide information to savers and investors. 9. What should you do before you withdraw money from the ATM? A) Ask someone nearby for help using the ATM. B) Find a hidden ATM so no one will see you withdraw money. C) Inspect the ATM to make sure it wasn't tampered with. D) Share your pin number with trusted friends so you don't forget it. Show Answer Correct Answer: C) Inspect the ATM to make sure it wasn't tampered with. 10. Which of the following is considered a liability for a bank? A) Loans. B) Investments. C) Deposits. D) Banks can't carry liabilities. Show Answer Correct Answer: C) Deposits. 11. The difference between interest paid and interest received A) Asset. B) Equity. C) Profit. D) Spread. Show Answer Correct Answer: D) Spread. 12. Which of the following is a non-deposit financial institution? A) Mutual savings bank. B) Credit union. C) Life insurance company. D) Savings and loan association. Show Answer Correct Answer: C) Life insurance company. 13. Why do some people invest in bonds with a low intrest rate? A) The investor may want a low-risk investment. B) The investory may want to make a high yield. C) The investor may want an investment with a low credit rating. D) The investor may want a bond that matures in 20 years. Show Answer Correct Answer: A) The investor may want a low-risk investment. 14. A Check Cashing Center provides service to someone who DOES NOT have a: A) Savings Account. B) ATM Card. C) Bank Account. D) Checking Account. Show Answer Correct Answer: C) Bank Account. 15. What means Wakalah? A) A contract of agency between the principle and the agent. B) A contract of benevolent loan between the lender and the borrower. C) A contract of remittance or transfer fund/debt between depositor and creditor. D) A contract of leasing between the owner of goods or asset. Show Answer Correct Answer: A) A contract of agency between the principle and the agent. 16. Credit unions are able to offer better interest rates because ..... A) Credit unions are not supervised and canmake their own rules. B) They are privately owned and run by a board of directors. C) They have an agreement with the U.S. Treasury Department. D) They are member owned and want to offer better services to their members. Show Answer Correct Answer: D) They are member owned and want to offer better services to their members. 17. Markets in which funds are transferred from those who have excess funds available to those who have a shortage of available funds are called A) Commodity markets. B) Fund-available markets. C) Derivative exchange markets. D) Financial markets. Show Answer Correct Answer: D) Financial markets. 18. Financial advisors typically recommend an individual has enough savings to cover at least ..... months worth of bills. A) One to two. B) Three to six. C) Six to eight. D) 12 to 18. Show Answer Correct Answer: B) Three to six. 19. A person employed to deal with customers' transactions at a bank such as taking deposits or cashing checks. A) Penn. B) Teller. C) Count. D) Cashier. Show Answer Correct Answer: B) Teller. 20. Single people earning less than $ 50, 000 per year, will most likely use the A) 1040A Form. B) 1040EZ Form. C) W-2 Form. D) 1040 Form. Show Answer Correct Answer: B) 1040EZ Form. ← 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