This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 37 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 37 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is it called when you spend more money than is in your account, often resulting in a fee? A) Credit. B) Debit. C) Transfer. D) Overdraft. Show Answer Correct Answer: D) Overdraft. 2. Making payments on time is an important part of managing which of the following? A) Checking account. B) Savings account. C) Trust account. D) Loan account. Show Answer Correct Answer: D) Loan account. 3. A market for dealing in monetary assets of short term nature, less than ..... year. A) One. B) Two. C) Five. D) None of above. Show Answer Correct Answer: A) One. 4. How many Board of Governor members are there? A) 3. B) 5. C) 7. D) 12. Show Answer Correct Answer: C) 7. 5. You should keep track of your spending because if you spend more money than you have in your bank account it is considered a ..... and usually will cause a fee. A) Balance. B) Withdraw. C) Bankruptcy. D) Overdraw. Show Answer Correct Answer: D) Overdraw. 6. Riba which is related to the exchange of certain type of goods/commodities that involve different counter value and or deferred delivery is: A) Riba Al Fadl. B) Riba Al Nasi'ah. C) Riba Al Jahiliyyah. D) Riba Al Duyun. Show Answer Correct Answer: A) Riba Al Fadl. 7. What is the purpose of money market? A) Serve as link between surplus and deficit units. B) Raise money for projects by issuing stock. C) Able to rapidly adjust liquidity position. D) Bring together investors holding capital. Show Answer Correct Answer: C) Able to rapidly adjust liquidity position. 8. Outstanding transactions are ..... A) Ones that were received by the bank after the closing date of your statement. B) Ones that were done perfectly and do not require your attention. C) Ones that match your own record of transactions. D) Ones that are on the bank statement but not on your own record. Show Answer Correct Answer: A) Ones that were received by the bank after the closing date of your statement. 9. When the national bank was established? A) 23 January 1959. B) 25 January 1956. C) 26 January 1959. D) 21 January 1957. Show Answer Correct Answer: C) 26 January 1959. 10. Which deposit institution specialize in savings accounts and making loans for home mortgages? A) Credit Unions. B) Mutual Savings Banks. C) Savings and Loan Association. D) Commercial Bank. Show Answer Correct Answer: C) Savings and Loan Association. 11. The person to whom a check is written is the A) Drawer. B) Payee. C) Endorser. D) Drawee. Show Answer Correct Answer: B) Payee. 12. Which of the following is the most significant difference between commercial banks and credit unions? A) How they pay interest on deposits. B) How they charge interest on loans. C) How they are regulated by the government. D) What types of deposits they accept. Show Answer Correct Answer: C) How they are regulated by the government. 13. The phrase used for putting money into a savings account is: A) Verifying the account. B) Balancing the account. C) Making a deposit. D) Making a withdrawal. Show Answer Correct Answer: C) Making a deposit. 14. Extended Bank Negara Malaysia's powers for the supervision and regulation of financial institutions A) IFSA 2013. B) DFI 2002. C) BAFIA 1989. D) MSBA 2011. Show Answer Correct Answer: C) BAFIA 1989. 15. The widest range of financial services is offered by A) A mutual savings bank. B) An investment company. C) A check-cashing outlet. D) A commercial bank. Show Answer Correct Answer: D) A commercial bank. 16. Which of the following financial institutions provides loans for prospective home buyers? A) Mortgage companies. B) Brokerage firms. C) Insurance companies. D) Savings and loan associations. Show Answer Correct Answer: A) Mortgage companies. 17. What do commercial banks provide service to? A) None. B) A commercial bank provides banking services. C) A commercial bank provides to businesses. D) A commercial bank provides banking services to businesses, institutions and some individuals. Show Answer Correct Answer: D) A commercial bank provides banking services to businesses, institutions and some individuals. 18. What is money borrowed that must be repaid, usually with interest? A) Loan. B) Check. C) Checking account. D) Debit card. Show Answer Correct Answer: A) Loan. 19. A cash obligation A) Asset. B) Liquid asset. C) Equity. D) Liability. Show Answer Correct Answer: D) Liability. 20. Interest earned on interest is called A) Compound interest. B) Double interest. C) Interest on fire. D) Complicated interest. Show Answer Correct Answer: A) Compound interest. ← 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