This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 31 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 31 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Choose the best answer for information about savings accounts A) Savings accounts limit the number of withdrawals that can be made each month. B) Savings accounts may require you to maintain a minimum balance to avoid paying a fee. C) Savings accounts are best used to store money for longer-term goals. D) All of the above. Show Answer Correct Answer: D) All of the above. 2. RBI Commenced its operations in ..... A) 1934. B) 1935. C) 1949. D) 1947. Show Answer Correct Answer: B) 1935. 3. Which type of check endorsement would consist of an individual's signature only. A) Blank. B) Restrictive. C) Special/full. D) None of above. Show Answer Correct Answer: A) Blank. 4. Philip has made some real poor financial choices that is now coming back to haunt him, but at least he has his car and thankfully it's paid off. He needs some fast cash. What will he most likely do? A) Apply for a loan at his local bank. B) Pawn his title to his car. C) Apply for a small loan at his local Credit Union. D) Visit a payday lender. Show Answer Correct Answer: B) Pawn his title to his car. 5. Is a money transfer scheduled on a predetermined date to pay a recurring bill. A) Automatic Bill Pay. B) Automatic Teller Machine. C) Automatic Overdraft. D) None of the above. Show Answer Correct Answer: A) Automatic Bill Pay. 6. Bank account that allows the account owner to make deposits, write checks, and withdraw money. A) Savings account. B) Treasury account. C) Mutual fund account. D) Checking account. Show Answer Correct Answer: D) Checking account. 7. In the U.S. economy the money supply is controlled by the: A) U.S. Treasury. B) . Federal Reserve System. C) Senate Committee on Banking and Finance. D) . Congress. Show Answer Correct Answer: B) . Federal Reserve System. 8. This institution only provides savings and mortgage loans A) Banks. B) Payday Loan Company. C) Savings and Loans. D) Credit Unions. Show Answer Correct Answer: C) Savings and Loans. 9. An institution owned by their depositors. A) Mutual Savings Banks. B) Mutual Savings and Loan Banks. C) Credit Unions. D) Community Banks. Show Answer Correct Answer: C) Credit Unions. 10. Which of the following is NOT one of the types of banks? A) Central banks. B) Commercial banks. C) Retail banks. D) Credit unions. Show Answer Correct Answer: D) Credit unions. 11. What is a financial institution owned by shareholders called? A) Bank. B) Credit union. C) Money place. D) Depository. Show Answer Correct Answer: A) Bank. 12. What advantages do financial intermediaries off an investor? A) They offer liquidity, low interst rates and risk-free investmnet. B) They off securities, interest-free loans and diversificiation. C) They share risks, provide information and provide liquidity. D) They share securities, provide liquidity and assume risk. Show Answer Correct Answer: C) They share risks, provide information and provide liquidity. 13. What is it called when another person gives you money that you will need to pay back? A) Interest. B) Savings Plan. C) Borrow. D) Lend. Show Answer Correct Answer: C) Borrow. 14. ..... Insurance protects your bank deposits up to $ 250, 000 A) SEC. B) IRS. C) FDIC. D) WWF. Show Answer Correct Answer: C) FDIC. 15. The amount an original deposit will be worth in the future based on its earning aspecific interest rate over a specific period of time is referred to as: A) Future value. B) Present value. C) Current value. D) Time value. Show Answer Correct Answer: A) Future value. 16. A deposit account is best described as ..... A) A current account, savings account or another type of bank account which allows money to be deposited and withdrawn by the account holder. B) A safe place to store you savings. C) Used by people for everyday transactions. D) An account where customers can go overdrawn on the amount they hold in it. Show Answer Correct Answer: A) A current account, savings account or another type of bank account which allows money to be deposited and withdrawn by the account holder. 17. Who is the regulator of Indian Capital Market? A) RBI. B) SEBI. C) IRDA. D) NABARD. Show Answer Correct Answer: B) SEBI. 18. A check that has been cashed and processed by the bank for payment is considered ..... A) Cleared. B) Outstanding. C) Forged. D) Stale. Show Answer Correct Answer: A) Cleared. 19. "If the bank is unable to collect a bill on due date, immediate steps should be taken to recover the amount from the drawer" , this feature comes under ..... of bank audit A) Internal Control System of cash. B) Audit report. C) Internal Control System of Bills. D) Preparation of financial statements. Show Answer Correct Answer: C) Internal Control System of Bills. 20. Which of the following would be the LEAST secure way to send payment to another person or business through the mail? A) A personal check. B) A cashier's check. C) A money order. D) Cash. Show Answer Correct Answer: D) Cash. ← 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