Banking And Financial Institutions Quiz 6 (20 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. You can use your ATM card with no fees at any teller machine displaying the same ..... logo

Correct Answer: A) Network.

2. Which of the following is the WISEST strategy for a new investor in the stock market?

Correct Answer: C) Buy blue chip income stocks through a brokerage firm.

3. What is a CHECKING ACCOUNT?

Correct Answer: A) A type of bank account that allows check writing, withdrawals and deposits of your money.

4. How often do you receive a bank statement about your accounts?

Correct Answer: B) Once a month, it might be electronic.

5. In the given below options which bank is private bank?

Correct Answer: B) Canara Bank.

6. ..... are interactive bank kiosks that provide customers all services except cashtransactions without actual bank tellers.

Correct Answer: A) Virtual tellers.

7. Issue management is an important function of ..... and .....

Correct Answer: C) Merchant banker and lead manager.

8. Banks provide all of the following EXCEPT

Correct Answer: D) Government subsidies.

9. The Network of banks consists of over ..... bank branches

Correct Answer: C) 86000.

10. Fill in the blank:The Federal Reserve regulates banks to ensure the soundness of the banking system and safety of .....

Correct Answer: C) Deposits.

11. Bank account used by depositors to accumulate money for future use.

Correct Answer: A) Savings account.

12. Which financial institution protects individuals by insuring bank deposits?

Correct Answer: A) FDIC.

13. Which type of bank account is best for everyday transactions?

Correct Answer: D) Checking Account.

14. Money you put into your bank account.

Correct Answer: D) Deposit.

15. An asset is declared as doubtful asset if it remains in sub-standard category for more than ..... months

Correct Answer: D) 6.

16. A check written by the bank on its own funds. SECURE!

Correct Answer: A) Cashiers Check.

17. Put money in.

Correct Answer: C) Deposit.

18. A/an ..... account is meant for transactions. You use it for paying bills and day to day expenses

Correct Answer: A) Checking Account.

19. Money or other property that is turned over to a bank to manage for a customer is said to be held in

Correct Answer: D) Trust.

20. Type of savings plan that requires a high minimum balance and pays variable interest rate.

Correct Answer: C) Money Market.