This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 5 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Financial markets promote greater economic efficiency by channeling funds from ..... to ..... A) Investors; savers. B) Borrowers; savers. C) Savers; borrowers. D) Savers; lenders. Show Answer Correct Answer: C) Savers; borrowers. 2. Goldman Sachs is which type of financial institution? A) Commercial bank. B) Investment bank. C) Brokerage firm. D) Insurance company. Show Answer Correct Answer: B) Investment bank. 3. Banks provide which of the following A) Debit cards. B) Loans. C) Check writing services. D) All of the above. Show Answer Correct Answer: D) All of the above. 4. Tyler needs a place for his paycheck to be direct deposited, he knows he will not earn much interest and does not really like being a member of anything. What would be Tyler's best choice? A) Credit Union. B) Bank. C) Title Pawn. D) Payday Loan. Show Answer Correct Answer: B) Bank. 5. The type of account where any number of transactions can be made inappropriate day with bank is ..... A) Savings Bank account. B) Recurring deposit account. C) Current account. D) Fixed deposit account. Show Answer Correct Answer: C) Current account. 6. Used to withdraw money from an ATM. Does not have all the functions of a debit card. A) Debit Card. B) Credit Card. C) ATM Card. D) Prepaid card. Show Answer Correct Answer: C) ATM Card. 7. Business that keeps your money safe until you need it. A) Bank. B) Bank account. C) Balance. D) Application. Show Answer Correct Answer: A) Bank. 8. Reggie decides to set up an Automatic Bill Pay Service in order to: A) To be able to use an ATM. B) To have his money transferred at a predetermined date to pay a recurring bill. C) To automatically pay the bank for loans. D) To have the bank take money from his paycheck and put it directly into a savings account. Show Answer Correct Answer: B) To have his money transferred at a predetermined date to pay a recurring bill. 9. ..... type of account is opened by business man A) Current account. B) Savings Bank account. C) Recurring deposit account. D) Term or fixed deposit account. Show Answer Correct Answer: A) Current account. 10. If there is an issue with your bank statement or account balance, who should you contact to resolve the issue? A) The local police station. B) Your bank. C) The CFPB. D) All of the above. Show Answer Correct Answer: B) Your bank. 11. Which of the following services would LEAST likely be offered online by a bank? A) Safety deposit boxes. B) Funds transfers between accounts. C) Bill payment services. D) Loan applications. Show Answer Correct Answer: A) Safety deposit boxes. 12. A request for a financial institution to refuse to honor a check you wrote or a check that has been lost or stolen, as long as the check has not cleared your account and already been paid A) Stop-payment order. B) Cashier check. C) Certified check. D) None of above. Show Answer Correct Answer: A) Stop-payment order. 13. Is a product offered by banks and credit unions that offers an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for a predetermined period of time. A) Checking Account. B) Savings Account. C) Mutual Funds. D) Certificate of Deposit. Show Answer Correct Answer: D) Certificate of Deposit. 14. You bought a stock on January 1. At the end of the year, why might you analyze published data from the S & P 500? A) To see whether the stock has just split. B) To find out how the stock performed that year. C) To decide whether to switch to the Dow next year. D) To determine whether bonds are earning more than stocks. Show Answer Correct Answer: B) To find out how the stock performed that year. 15. High interest rates might ..... purchasing a house or car but at the same time high interest rates might ..... saving. A) Discourage; encourage. B) Discourage; discourage. C) Encourage; encourage. D) Encourage; discourage. Show Answer Correct Answer: A) Discourage; encourage. 16. What is New Principal Guarantee Scheme (NPGS)? A) The temporary giving of money or property to another person. B) To assist small and medium sized enterprises (SMEs) which have viable businesses. C) The legal status of a borrower. D) Non-cancellable contractual agreement made between a lessor and a lessee. Show Answer Correct Answer: B) To assist small and medium sized enterprises (SMEs) which have viable businesses. 17. Which type of loans have less prone to the risk of becoming NPA A) Retail loans. B) Whole sale loans. C) Gold loans. D) Mortage loans. Show Answer Correct Answer: A) Retail loans. 18. Suppose you own 100 shares of stock in a company, and each share is worth $ 120. A 2-for-1 split would leave you with ..... A) 100 shares worth $ 120 each. B) 100 shares worth $ 240 each. C) 200 shares worth $ 60 each. D) 50 shares worth $ 240 each. Show Answer Correct Answer: C) 200 shares worth $ 60 each. 19. Which bank is called as " Mother bank of India " A) Canada bank. B) Corporation bank. C) State bank of India. D) Reserve Bank of India. Show Answer Correct Answer: D) Reserve Bank of India. 20. ..... accepts deposits from people and businesses and uses them to finance their business. A) Members. B) Non-Deposit Institutions. C) Pawn Shops. D) Deposit Institutions. Show Answer Correct Answer: D) Deposit Institutions. ← 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 6Banking And Financial Institutions Quiz 7Banking And Financial Institutions Quiz 8Banking And Financial Institutions Quiz 9Banking And Financial Institutions Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books