This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 28 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 28 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. BNM commenced to issue its own currency on ....., 1967 A) June 12. B) August 12. C) September 12. D) Oktober 12. Show Answer Correct Answer: A) June 12. 2. Computer and electronic technology in place of checks and other paper transactions A) Electronic fund transfer. B) Cards. C) Bank. D) None of above. Show Answer Correct Answer: A) Electronic fund transfer. 3. Whenever you authorize someone to automatically take money out of your account to satisfy a financial obligation, you are using a ..... A) Cashier's check. B) Bank draft. C) Money order. D) Certified check. Show Answer Correct Answer: B) Bank draft. 4. What is the name of a legal document that functions like cash? A) Check. B) ATM. C) Deposit slip. D) PIN. Show Answer Correct Answer: A) Check. 5. The type of account which can be commonly opened by businessmen? A) Current account. B) Savings account. C) Recurring deposit account. D) Fixed deposit account. Show Answer Correct Answer: A) Current account. 6. Which one of the following is not a bank? A) Bank of America. B) EECU. C) Frost Bank. D) Bank of the United States. Show Answer Correct Answer: D) Bank of the United States. 7. Which non-deposit institution specialize in making loans for long-lasting or durable goods and for financial emergencies? Examples:FORD Financing, TOYOTA Financing A) Life Insurance Companies. B) Pawn Shops. C) Consumer Finance Companies. D) Investment Companies. Show Answer Correct Answer: C) Consumer Finance Companies. 8. A key factor in producing high economic growth is A) Eliminating foreign trade. B) Well-functioning financial markets. C) High-interest rates. D) Stock market volatility. Show Answer Correct Answer: B) Well-functioning financial markets. 9. They make loans based on the value of jewelry or some other valuable item. A) Consumer finance companies. B) Pawn shops. C) Check-cashing outlets. D) Investment companies. Show Answer Correct Answer: B) Pawn shops. 10. The Federal Reserve maintains the ..... of our currency. A) Value. B) Design. C) Trading. D) Color. Show Answer Correct Answer: A) Value. 11. A card issued by a bank that allows the holder to check account balances, withdraw and deposit cash, and transfer money from one account to another using an ATM. A) ATM card. B) ID card. C) Credit card. D) Debit card. Show Answer Correct Answer: A) ATM card. 12. Financial institution that offers savings and loan services. Also called "thriftys" A) Nondepository institution. B) Depository institution. C) Savings and loan institution. D) Credit union. Show Answer Correct Answer: C) Savings and loan institution. 13. Money the banks make you pay for breaking the rules A) Withdrawal. B) Deposit slip. C) Service charge. D) Deposit. Show Answer Correct Answer: C) Service charge. 14. What type of endorsement is the most secure? A) Blank Endorsement. B) Restrictive Endorsement. C) Endorsement in Full. D) Full Endorsement. Show Answer Correct Answer: B) Restrictive Endorsement. 15. Contains the checks and the check register: A) Check. B) Checkbook. C) Check Register. D) None of above. Show Answer Correct Answer: B) Checkbook. 16. Frank has ten dollars. If he does not spend any of the money, it will keep its worth of ten dollars. How is that using money? A) A medium of exchange. B) A unit of measure. C) A store of value. D) None of above. Show Answer Correct Answer: C) A store of value. 17. The most likely computer management tool for financial forms is: A) PowerPoint. B) Database. C) Word processing. D) Spreadsheet. Show Answer Correct Answer: D) Spreadsheet. 18. Your money is insured for up to how much when kept in a bank or credit union? A) $ 250, 000. B) $ 200, 000. C) $ 150, 000. D) $ 100, 000. Show Answer Correct Answer: A) $ 250, 000. 19. The Indian postal department is planning to start a bank to be tentatively called the ..... A) Postal bank of India. B) Central bank of India. C) State bank of Mysore. D) Canada bank. Show Answer Correct Answer: A) Postal bank of India. 20. An increase in interest rates might ..... saving because more can be earned in interest income. A) Encourage. B) Discourage. C) Disallow. D) Invalidate. Show Answer Correct Answer: A) Encourage. ← 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