This quiz works best with JavaScript enabled. Home > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 8 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 8 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What service is available through home banking on the internet? A) Checking account balances. B) Withdrawing cash. C) Lending money to a friend. D) Selling gold. Show Answer Correct Answer: A) Checking account balances. 2. A service provided by a bank that protects against non-sufficient funds. If you spend more than what is in your checking account, this covers the purchase. Beware, though, banks can charge steep fees for this service! A) Over the top protection. B) Overdraft Protection. C) Overage Charges. D) Payday Loan. Show Answer Correct Answer: B) Overdraft Protection. 3. A prepaid card for phone service and other similar transactions. A) Stored-value card. B) Credit card. C) Debit card. D) None of above. Show Answer Correct Answer: A) Stored-value card. 4. ..... is a company engaged in the business of dealing with monetary (money) transactions; such as, loans, investments, and currency exchange. A) Financial Institution. B) Commercial Bank. C) Financial Banks. D) Commercial Institution. Show Answer Correct Answer: A) Financial Institution. 5. One benefit of our free enterprise systtem is that it A) Allows the government to decide what goods and services will be produced. B) Provides people with opportunities to invest their savings for their most productive use. C) Restricts individual wealth. D) Benefits businesses and not individuals. Show Answer Correct Answer: B) Provides people with opportunities to invest their savings for their most productive use. 6. A plastic card that is electronically connected to the cardholder's depository institution account A) Credit card. B) Debit card. C) Interest card. D) Savings card. Show Answer Correct Answer: B) Debit card. 7. When I purchase a corporate ....., I am lending the corporation funds for a specific time. When I purchase a corporation's ....., I become an owner in the corporation. A) Bond; stock. B) Stock; bond. C) Stock; debt security. D) Bond; debt security. Show Answer Correct Answer: A) Bond; stock. 8. What agency performs central banking functions in the United States? A) Federal Reserve. B) Securities and Exchange Commission. C) US Treasury Department. D) First National Bank. Show Answer Correct Answer: A) Federal Reserve. 9. What happens to the costumer's money if the bank goes bankrupt? A) He loses it all. B) It is insured by law so he gets back the whole amount. C) It is insured by law up to 100 000 HUF / costumer / bank. D) None of above. Show Answer Correct Answer: C) It is insured by law up to 100 000 HUF / costumer / bank. 10. Which is the following is commercial Bank A) Affin Bank. B) Bank Rakyat. C) HSBC bank Malaysia Berhad. D) Muamalat Bank. Show Answer Correct Answer: A) Affin Bank. 11. A check register is a tool for ..... A) Earning interest on your balance. B) Paying regular bills. C) Keeping track of your account balance. D) Accessing your account. Show Answer Correct Answer: C) Keeping track of your account balance. 12. Fill in the blanks. Many banks do not charge fees for transactions if you keep a minimum balance. They offer a ..... A) Unlimited transactions. B) Transaction limit. C) Fee waiver. D) NSF charge. Show Answer Correct Answer: C) Fee waiver. 13. The banks which perform function of accepting and lending loans are known as ..... banks A) Commercial Banks. B) Development Banks. C) Regional Rural Banks. D) Cooperative Banks. Show Answer Correct Answer: A) Commercial Banks. 14. Financial institution that does not accept deposits. A) Nondepository institution. B) Depository institution. C) Finance company. D) Securities firm. Show Answer Correct Answer: A) Nondepository institution. 15. ..... is a type of software to prepare income tax forms. A) Quicken. B) Excel. C) Turbo tax. D) Database. Show Answer Correct Answer: C) Turbo tax. 16. How many federal reserve districts are there? A) 5. B) 10. C) 12. D) 21. Show Answer Correct Answer: C) 12. 17. When have banks existed since? A) 14th century. B) 12th century. C) 16th century. D) 10th century. Show Answer Correct Answer: A) 14th century. 18. A stock is ..... A) A type of debt investment that acts like a loan. B) A type of investment that invests in a mix of different types of investments. C) A share of ownership in a company. D) A type of savings account that pays interest based on current interest rates in the money market. Show Answer Correct Answer: C) A share of ownership in a company. 19. What fees do you have to consider when you open a bank account? A) Interest, commission, maintenance fee. B) Opening fee, monthly fee, fee for withdrawing money. C) Opening fee, monthly fee, dividend. D) None of above. Show Answer Correct Answer: B) Opening fee, monthly fee, fee for withdrawing money. 20. It is safer to keep your money here than at home under your mattress. A) Balance. B) Want. C) Inflation. D) Bank. Show Answer Correct Answer: D) Bank. ← 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 9Banking And Financial Institutions Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books