This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 24 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 24 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The time and money spent in carrying out financial transactions are called: A) Liquidity Services. B) Transaction costs. C) Economies of scale. D) None of above. Show Answer Correct Answer: B) Transaction costs. 2. A computer based system that moves money from one account to another. Direct deposit, having a bill draft from your checking account, and moving money from savings to checking are all examples. A) Electronic Funds Transfer. B) Gringotts Bank. C) Bank of Mom and Dad. D) NSF Services. Show Answer Correct Answer: A) Electronic Funds Transfer. 3. What kinds of financial assets are sold on secondary markets A) Stocks. B) Small certificates of deposit. C) Savings bonds. D) Capital markets. Show Answer Correct Answer: A) Stocks. 4. Usin the Rule of 72, how long would it take for money to double at an 8 percent interest rate? A) 9 years. B) 72 years. C) 8 years. D) 18 years. Show Answer Correct Answer: A) 9 years. 5. When depositing money into an account, it is important to: A) Include your account number. B) Swipe your credit card. C) Thank the teller. D) Sign your deposit ticket. Show Answer Correct Answer: A) Include your account number. 6. A license authorizing a bank to operate usually called national banks. A) Certificate. B) FDIC. C) Savings and Loans association. D) Charter. Show Answer Correct Answer: D) Charter. 7. What agencies insure banks and credit unions? A) IRS and DHS. B) DHS and FDIC. C) FDIC and NCUA. D) NCUA and FICA. Show Answer Correct Answer: C) FDIC and NCUA. 8. Using the rule of 72, how long would it take for your money to double at a 4 percent interest rate? A) 18 years. B) 4 years. C) 9 years. D) 36 years. Show Answer Correct Answer: A) 18 years. 9. ..... service is offered by the merchant banker to get term loan for project, help client make appraisal, designing capital structure etc A) Underwriting. B) Loan Syndication. C) Issue Management. D) None of above. Show Answer Correct Answer: B) Loan Syndication. 10. To bring the bank statement and your own record of transaction into agreement A) Reconcile. B) Balance. C) Review. D) Check for errors. Show Answer Correct Answer: A) Reconcile. 11. It is a computerised database system developed and maintained by BNM to collect, process, store, and generate information.What is this? A) Credit Tip Off System. B) Central Credit Reference Information System. C) Dishonoured Cheque Information System. D) Block Discounting. Show Answer Correct Answer: C) Dishonoured Cheque Information System. 12. Plastic card that allows the holder to make credit purchases up to an authorized amount. A) Debit card. B) Credit card. C) Line of credit. D) Government bond. Show Answer Correct Answer: B) Credit card. 13. This institution requires you to be a member A) Banks. B) Credit Unions. C) Savings and Loans. D) Payday Loan Company. Show Answer Correct Answer: B) Credit Unions. 14. The National Credit Union Administration (NCUA) regulates which depository institution? A) Credit Unions. B) Mutual Savings Banks. C) Savings and Loan Association. D) Commercial Banks. Show Answer Correct Answer: A) Credit Unions. 15. Prearranged amount of credit that is available for a business to use as needed. A) Government bond. B) Line of credit. C) Medium of exchange. D) Checking account. Show Answer Correct Answer: B) Line of credit. 16. An 8th grader makes and sells earrings as a way to earn extra money. The money she gets is considered ..... A) Needs. B) Wants. C) Income. D) Expenses. Show Answer Correct Answer: C) Income. 17. Which of the following is a written order from you to your bank instructing your bank to pay money from your account to another party? A) A check. B) A deposit slip. C) A certificate of deposit. D) A debit card. Show Answer Correct Answer: A) A check. 18. Approximately how often does a financial institution send a bank statement to an account holder? A) Yearly. B) Weekly. C) Quarterly. D) Monthly. Show Answer Correct Answer: D) Monthly. 19. Amelia receives a card from her financial institution that allows to her use an ATM for depositing and withdrawing money, checking her account information, and more. Amelia has a what? A) ATM Card. B) Savings Account. C) Debit Card. D) Cash Card. E) Credit Card. Show Answer Correct Answer: A) ATM Card. 20. The amount of money in an account can be defined as: A) Your Dough. B) Money Level. C) Account Amount. D) Account Balance. Show Answer Correct Answer: D) Account Balance. ← 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