This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 30 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 30 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is goal of FSA? A) Maintain financial stability. B) Control of system for the electronic transfer of funds. C) Mainly provides for the licensing and regulation of Islamic banking business in Malaysia. D) To increase money. Show Answer Correct Answer: A) Maintain financial stability. 2. All of these are basic reasons to put your money in a bank, except A) To help get a job. B) To earn interest. C) To keep it safe. D) To make financial transactions easier. Show Answer Correct Answer: A) To help get a job. 3. A transaction is ..... A) Any business done at the bank. B) When you take money out of an account. C) When you transfer money from one person to another. D) When you put money into an acount. Show Answer Correct Answer: A) Any business done at the bank. 4. Which of the following is not a way that banks keep your money safe? A) Identification. B) Enforcement. C) Armor trucks. D) Recordkeeping. Show Answer Correct Answer: C) Armor trucks. 5. The ..... was created by the federal government to supervise and regulate member banks so they serve the public efficiently. A) Federal Reserve System (FED). B) FBI. C) FIDC. D) Credit Union. Show Answer Correct Answer: A) Federal Reserve System (FED). 6. This is a sequence consisting of NINE numbers used by banks to identify specific financial institutions within the US: A) ABA Number (Check routing number). B) Check number. C) Check account number. D) Memo. Show Answer Correct Answer: A) ABA Number (Check routing number). 7. A number allocated to an individual and used to validate electronic transactions. You will have one for your debit card! A) PEN. B) PIN. C) PUN. D) PBS. Show Answer Correct Answer: B) PIN. 8. A financial institution that charges large fees to cash payroll and government checks to people who do not have a bank account. A) Check Cashing Centers. B) Payday Loan Centers. C) Rent-to-own Centers. D) Pawnshops. Show Answer Correct Answer: A) Check Cashing Centers. 9. Financial institution that provides services for businesses. A) Investment bank. B) Credit union. C) Securities firm. D) Savings and loan institution. Show Answer Correct Answer: A) Investment bank. 10. Promotes the development of effective and efficient development financial situations A) BAFIA 1989. B) Development Financial Institutions Act 2002. C) Islamic Financial Service Act 2011. D) Central Bank of Malaysia Act 2009. Show Answer Correct Answer: B) Development Financial Institutions Act 2002. 11. How can you be MOST certain that a stock you own will allow you to vote at stockholder meetings and also earn dividends? A) It must be both a common stock and an income stock. B) It must be both a common stock and a growth stock. C) It must be both a preferred stock and an income stock. D) It must be both a preferred stock and a growth stock. Show Answer Correct Answer: A) It must be both a common stock and an income stock. 12. A bank is ..... A) A business that keep money for customers and makes loans. B) A company that uses your money for bartering. C) An organization that holds money and other valuable assets. D) A business that borrows money from you. Show Answer Correct Answer: A) A business that keep money for customers and makes loans. 13. The major difference in banks and credit unions is ..... A) Credit unions are member owned. B) Banks charge higher fees. C) Credit unions pay higher interest rates on loans. D) Credit unions offer lower rate loans. Show Answer Correct Answer: A) Credit unions are member owned. 14. If you notice charges on your account that you didn't make, what should you do? A) Call your bank's customer service immediately and report the charges immediately. B) Don't do anything til your bank statement comes. C) Call the FBI. D) Wait until you can go to the bank in person and talk to someone. Show Answer Correct Answer: A) Call your bank's customer service immediately and report the charges immediately. 15. If a person wants to keep a personal record of their checking account, they need to have a what: A) Check Register. B) Check Stub. C) Bank Statement. D) Economic Record. Show Answer Correct Answer: A) Check Register. 16. The Fed ..... banks to ensure the soundness of the banking system. A) Regulates. B) Closes. C) Opens. D) Runs. Show Answer Correct Answer: A) Regulates. 17. What is the most important skill to successfully serve customers? A) Speaking. B) Calculating. C) Negotiating. D) Listening. Show Answer Correct Answer: D) Listening. 18. If float averaged $ 800 million per day last year, and the average this year is 5 percent less, what does float average per day this year? A) 7.6 Million. B) 760 Million. C) 240 Million. D) 76 Million. Show Answer Correct Answer: B) 760 Million. 19. The date when the money becomes available is ..... A) Actual date. B) Maturity date. C) Current date. D) None of the above. Show Answer Correct Answer: B) Maturity date. 20. ..... was created to supervise and regulate member banks and to help banks serve the public efficiently. A) Savings & Loan. B) Federal Reserve System. C) Commercial Banking. D) Army Reserves. Show Answer Correct Answer: B) Federal Reserve System. ← 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