This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 23 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 23 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which type of account is easiest to access? A) CD. B) Checking Account. C) Savings Account. D) Money market account. Show Answer Correct Answer: B) Checking Account. 2. What's left of revenue after costs are deducted A) Asset. B) Equity. C) Profit. D) Spread. Show Answer Correct Answer: C) Profit. 3. In what type of market is money lent for periods longer than a year? A) Money market. B) Secondary market. C) Primary market. D) Capital market. Show Answer Correct Answer: D) Capital market. 4. Which of the following types of Financial Institutions has this unit mainly focused? A) Commercial Banks. B) Savings & Loans Associations. C) Credit Unions. D) Brokerage Firms. Show Answer Correct Answer: A) Commercial Banks. 5. Money is something I can trust to keep its value over time. A) Unit of value. B) Store of value. C) Medium of exchange. D) Unit of account. Show Answer Correct Answer: B) Store of value. 6. Which part of the check is the least important? A) Memo line. B) Signature line. C) Routing numbers. D) Check number. Show Answer Correct Answer: A) Memo line. 7. A wire transfer is ..... A) A financial transcation that electronically moves funds from one bank to another. B) Moving money from one account to another. C) Paying your bills online using your computer. D) The electronic connections used to access your account. Show Answer Correct Answer: A) A financial transcation that electronically moves funds from one bank to another. 8. Which of the following best describes a LOAN? A) Money borrowed that can be paid back if one feels like it. B) Money borrowed. C) Money borrowed with the expectation of paying it back in a timely manner. D) Money gifted to someone with no expectation of payback. Show Answer Correct Answer: C) Money borrowed with the expectation of paying it back in a timely manner. 9. The primary liabilities of a commercial bank are A) Bonds. B) Mortgages. C) Deposits. D) None of above. Show Answer Correct Answer: C) Deposits. 10. Fill in the blank.Lucy's employer doesn't giver her a pay cheque. Instead, her pay goes into her bank account. She uses ..... because it is convenient. A) Direct deposit. B) Account balance. C) NSF charge. D) Minimum balance. Show Answer Correct Answer: A) Direct deposit. 11. Savings account, checking and payment accounts, loans and other credit plans and other services such as safe-deposit boxes and investment advice are all examples of: A) Savings and Loan Companies. B) Government Agencies. C) Banking Services. D) Credit Unions. Show Answer Correct Answer: C) Banking Services. 12. Lets you borrow money from the bank but you have to pay back the loan in 20 to 30 days without being charged interest A) Credit cards. B) Loans. C) Banks. D) None of above. Show Answer Correct Answer: A) Credit cards. 13. If your checkbook is stolen A) Your name could be forged and used to purchase items without your consent. B) All the checks are automatically voided. C) It doesn't matter since the thief doesn't know how you sign your name. D) The thief can access all of your accounts. Show Answer Correct Answer: A) Your name could be forged and used to purchase items without your consent. 14. A common name for U.S. currency is ..... A) Orange backs. B) Yellow backs. C) Blue backs. D) Green backs. Show Answer Correct Answer: D) Green backs. 15. Interest helps allocate savings to its most productive use by A) Limiting risk. B) Directing households to save or invest. C) Transferring money from borrowers to savers. D) Providing money for business improvements. Show Answer Correct Answer: B) Directing households to save or invest. 16. Money on deposit, minus ....., can be loaned by banks to customers. A) Primary reserves. B) The reserve requirement. C) Cash on hand. D) Excess reserves. Show Answer Correct Answer: B) The reserve requirement. 17. One result of competition among banks is that A) The trend toward mergers in the banking industry has slowed. B) More banks banks exist now than a decade ago. C) More services are available to consumers. D) All of the answers. Show Answer Correct Answer: C) More services are available to consumers. 18. Anything that's accepted in exchange for goods & services. A) Currency. B) Money. C) Liquidity. D) Deferred Payment. Show Answer Correct Answer: B) Money. 19. A line of credit is: A) Must be backed by collateral. B) Is not readily available to the bank customer. C) A pool of available money that you can borrow. D) A Master Card or Visa offered by a bank. Show Answer Correct Answer: C) A pool of available money that you can borrow. 20. What is one difference between Banks and Credit Unions? A) Banks have Checking accounts and Credit Unions have Savings Accounts. B) Banks are for profit. Credit Unions are Non-profit. C) Banks can give loans and Credit Unions cannot. D) Credit Unions allow everyone to join and Banks are selective. Show Answer Correct Answer: B) Banks are for profit. Credit Unions are Non-profit. ← 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