This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 14 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 14 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which government agency or department is in charge of determining how much money is in circulation? A) The Federal Reserve. B) The Bureau of Economic Analysis. C) The Treasury. D) The Department of Commerce. Show Answer Correct Answer: A) The Federal Reserve. 2. Any organization that provides services related to money is a ..... A) Corporation. B) Store. C) Business. D) Financial institution. Show Answer Correct Answer: D) Financial institution. 3. An independent agency created by the federal government to protect bank customers by insuring their deposits. A) FBI. B) Federal Deposit Insurance Corporation. C) Financial Depository Insurance Company. D) Financial Department of Insurance Corporation. Show Answer Correct Answer: B) Federal Deposit Insurance Corporation. 4. All of the following describe the operations of a bank EXCEPT A) Pay a small amount of interest on money deposited. B) Borrow money from the government. C) Make various types of loans. D) Offer direct deposits. Show Answer Correct Answer: B) Borrow money from the government. 5. Banks create money by taking in deposits, making ....., and charging ..... A) Debt, loans. B) Loans, interest. C) Payments, loans. D) Interest, payments. Show Answer Correct Answer: B) Loans, interest. 6. Reducing risk through the purchase of assets whose returns do not always move together is A) Intermediation. B) Discounting. C) Diversification. D) None of above. Show Answer Correct Answer: C) Diversification. 7. What helps you have higher approval rates for loans and credit cards? A) Good credit. B) Poor credit. C) No credit. D) None of above. Show Answer Correct Answer: A) Good credit. 8. Form you fill out to put money in your account. A) Service charge. B) Withdrawal. C) Deposit slip. D) Deposit. Show Answer Correct Answer: C) Deposit slip. 9. What is a Cash Loan based on? A) How often someone deposits money into their bank account. B) The creditworthiness of someone. C) What banks a person gives business to. D) Collateral given for the loan. Show Answer Correct Answer: B) The creditworthiness of someone. 10. Money the bank pays you to keep your money in their bank. A) Interest. B) Minimum balance. C) Checking account. D) Savings account. Show Answer Correct Answer: A) Interest. 11. Which type of check endorsement begins with "Pay to the order of Marcia Bernas ..... A) Blank. B) Restrictive. C) Special/full. D) None of above. Show Answer Correct Answer: C) Special/full. 12. A credit union differs from other financial institutions in that it is A) Taxed at a different rate. B) Owned by foreign investors. C) Chartered by the federal government. D) Organized as a not-for-profit organization. Show Answer Correct Answer: D) Organized as a not-for-profit organization. 13. A business or financial institution that stores and manages money for individuals and other businesses: A) ATM. B) Credit Union. C) Bank. D) Check Cashing Center. Show Answer Correct Answer: C) Bank. 14. What are you typically required to fill out first before you can rent an apartment? A) Credit application. B) Rental application. C) Homeowner application. D) Sales application. Show Answer Correct Answer: B) Rental application. 15. A(n) ..... has nonprofit status and is owned by its members. A) Savings bank. B) Investment company. C) Credit union. D) Securities firm. Show Answer Correct Answer: C) Credit union. 16. What is the fee called when there is not enough money in your checking account to cover the check? A) Fee. B) Bad check. C) Overdraft. D) Good check. Show Answer Correct Answer: C) Overdraft. 17. An exchange of goods or services for other goods or services without using money. A) Begging. B) Barter. C) Thrift shopping. D) Bargain shopping. Show Answer Correct Answer: B) Barter. 18. The French word Banque means A) Money Exchange Table. B) House Exchange Table. C) Jewellery Exchange Table. D) None of the above. Show Answer Correct Answer: A) Money Exchange Table. 19. Who developed microcredit? A) Group of women from Bangladesh. B) Muhammad Ali. C) Muhammad Yunus. D) Medici family. Show Answer Correct Answer: C) Muhammad Yunus. 20. Typically, borrowers have superior information relative to lenders about the potential returns and risks associated with an investment project. The difference in information is called A) Moral Selection. B) Risk Sharing. C) Asymmetric information. D) None of above. Show Answer Correct Answer: C) Asymmetric information. 21. Which bank is not under IBA? A) CIMB. B) Public Islamic. C) Bank Muamalat. D) Maybank Islamic Berhad. Show Answer Correct Answer: A) CIMB. 22. Which account is commonly opened by students senior citizens and pensioners? A) Recurring deposit account. B) Fixed deposit account. C) Current account. D) Savings account. Show Answer Correct Answer: D) Savings account. 23. The amount of money in your account A) DOLLARS. B) BALANCE. C) DEPOSIT. D) BENJAMINS. Show Answer Correct Answer: B) BALANCE. 24. ..... type of account is by salaried person, students A) Savings Bank account. B) Recurring deposit account. C) Term or fixed deposit account. D) Current account. Show Answer Correct Answer: A) Savings Bank account. 25. Which deposit institution is owned by and operated for the benefit of its depositors? A) Credit Unions. B) Mutual Savings Banks. C) Savings and Loan Association. D) Commercial Bank. Show Answer Correct Answer: B) Mutual Savings Banks. 26. The most common position at banks is called A) Customer service representative (CSR). B) Financial planner. C) Teller. D) Loan officer. Show Answer Correct Answer: C) Teller. 27. Offer loans with high finance charges to desperate borrowers. A) Pawnshops. B) Banks. C) Savings and loan Companies. D) Credit Unions. Show Answer Correct Answer: A) Pawnshops. 28. U.S. government agency which insures your bank account up to $ 250, 000 A) SS Protection. B) FDIC Protection. C) IRS Protection. D) DHS Protection. Show Answer Correct Answer: B) FDIC Protection. 29. A signature on the back of a check that entitles the payee to either receive payment or transfer it to someone else A) Signature. B) Verification. C) Endorsement. D) Autograph. Show Answer Correct Answer: C) Endorsement. 30. Mobicash Easy is a mobile wallet which offers facilities such as fund transfer, bill payment, balance enquiry, mini statement, mobile top-ups and DTH recharge. This facility has been introduced by which of the following banks? A) State Bank of india. B) Corporation Bank. C) Union Bank of India. D) HDFC Bank. E) ICICI Bank. Show Answer Correct Answer: A) State Bank of india. ← PreviousNext →Related QuizzesBanking QuizzesFinance 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 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books