This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 18 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What does the bank send you at the end of the month? A) Bank Statement. B) Bill. C) Extra Money. D) Junk Mail. Show Answer Correct Answer: A) Bank Statement. 2. Which of the following situations would we sign the deposit slip? A) Deposit Cash. B) When you are taking cash out of the deposit. C) Deposit Checks. D) When you deposit amounts over $ 100. Show Answer Correct Answer: B) When you are taking cash out of the deposit. 3. Fill in the blanks with a correct word. Miriam has her own bank account. She is the ..... A) Account balance. B) Account holder. C) Bank statement. D) Joint account. Show Answer Correct Answer: B) Account holder. 4. All financial institutions are regulated by what agencies? A) Federal and State Agencies. B) Country Agencies. C) Government Agencies. D) Banking Agencies. Show Answer Correct Answer: A) Federal and State Agencies. 5. What is the largest source of funds for banks? A) Donations. B) Interest. C) Escrow account. D) Deposits. Show Answer Correct Answer: D) Deposits. 6. ..... is a written order to a bank to pay a stated amount to the specified recipient. A) Payment Order. B) Cash. C) Check. D) Credit Card. Show Answer Correct Answer: C) Check. 7. What do you call the process of bringing your checkbook register into agreement with the bank statement? A) Endorsement. B) Reconciliation. C) Deposit. D) Withdrawal. Show Answer Correct Answer: B) Reconciliation. 8. Which would somebody use to withdraw money from a checking account? A) Gift card. B) Stored-value card. C) Credit card. D) Debit card. Show Answer Correct Answer: D) Debit card. 9. When an employee's paycheck is automatically added to their bank account A) FDIC. B) Automatic Payment. C) Direct Deposit. D) Debit Card. Show Answer Correct Answer: C) Direct Deposit. 10. Which of the following financial services is best suited for saving money over a period of years? A) Certificate of Deposit. B) Demand Deposit. C) Checking Account. D) Mortgage Loan. Show Answer Correct Answer: A) Certificate of Deposit. 11. Member deposits into credit unions are insured by which of the following organizations? A) US Treasury Department (USTD). B) National Credit Union Agency (NCUA). C) Federal Deposit Insurance Corporation (FDIC). D) Federal Reserve (FED). Show Answer Correct Answer: B) National Credit Union Agency (NCUA). 12. Money used in exchange for goods and services needed by individuals, businesses, and governments. A) Store of value. B) Unit of value. C) Medium of exchange. D) Bond. Show Answer Correct Answer: C) Medium of exchange. 13. The percentage rate used to calculate interest A) Rate of return. B) Interest accrual. C) Interest rate. D) Percentage. Show Answer Correct Answer: C) Interest rate. 14. ..... formulates the monetary policy which should be followed by all banks A) Corporation Bank. B) Vijayawada Bank. C) Reserve Bank of India. D) Canara Bank. Show Answer Correct Answer: C) Reserve Bank of India. 15. Which type of account generally has the highest APY and requires the depositor to "lock away" money for a time? A) Checking account. B) Certificate of deposit. C) Money market account. D) Traditional savings account. Show Answer Correct Answer: B) Certificate of deposit. 16. Who insures bank deposits? A) Federal Reserve. B) U.S. Treasury Department. C) FDIC. D) NCUA. Show Answer Correct Answer: C) FDIC. 17. Your 2 year investment of $ 5, 300 earns 2.9% and is compounded annually . What will your total return be? A) $ 5, 304.46. B) $ 5, 613.28. C) $ 5, 611.86. D) $ 8, 819.73. Show Answer Correct Answer: C) $ 5, 611.86. 18. Name one advantage of bonds for their issuers A) Bonds have the potential to be downgraded. B) Issuers must make fixed income payments even when it doen't make a profit. C) Issuers can't change interest payments even when rates have dropped. D) Bondholders can't share in the profits of a company. Show Answer Correct Answer: D) Bondholders can't share in the profits of a company. 19. Interest is ..... A) A reward for saving and a reward for borrowing. B) A cost of saving and a reward for borrowing. C) A cost of borrowing and a cost of saving. D) A reward for saving and a cost of borrowing. Show Answer Correct Answer: D) A reward for saving and a cost of borrowing. 20. What does the FDIC? A) Financial Depositing In Communities. B) Financing Depositing Insuring Corporation. C) Federal Deposit Insurance Corporation. D) Federal Deposit In Corporations. Show Answer Correct Answer: C) Federal Deposit Insurance Corporation. 21. An automatic loan made to an account if the balance will not cover the checks written, debit card purchases A) Title loan. B) Payday loan. C) Collateralized loan. D) Overdraft protection. Show Answer Correct Answer: D) Overdraft protection. 22. The process of determining standards and procedures for dealing with judgmentaldecisions affecting other people is called: A) Mission. B) Standards. C) Ethics. D) Courtesy. Show Answer Correct Answer: C) Ethics. 23. What is the name of Central Bank in India? A) SBI. B) RBI. C) PNB. D) None of above. Show Answer Correct Answer: B) RBI. 24. BNM commenced to issue its own currency on ....., 1967 A) August 12. B) June 12. C) September 12. D) Oktober 12. Show Answer Correct Answer: B) June 12. 25. Computer and electronic technology in place of checks and other paper transactions A) Electronic fund transfer. B) Cards. C) Bank. D) None of above. Show Answer Correct Answer: A) Electronic fund transfer. 26. Whenever you authorize someone to automatically take money out of your account to satisfy a financial obligation, you are using a ..... A) Money order. B) Certified check. C) Cashier's check. D) Bank draft. Show Answer Correct Answer: D) Bank draft. 27. What is the name of a legal document that functions like cash? A) Deposit slip. B) PIN. C) Check. D) ATM. Show Answer Correct Answer: C) Check. 28. The type of account which can be commonly opened by businessmen? A) Fixed deposit account. B) Recurring deposit account. C) Savings account. D) Current account. Show Answer Correct Answer: D) Current account. 29. Which one of the following is not a bank? A) Frost Bank. B) Bank of America. C) EECU. D) Bank of the United States. Show Answer Correct Answer: D) Bank of the United States. 30. Which non-deposit institution specialize in making loans for long-lasting or durable goods and for financial emergencies? Examples:FORD Financing, TOYOTA Financing A) Life Insurance Companies. B) Pawn Shops. C) Consumer Finance Companies. D) Investment Companies. Show Answer Correct Answer: C) Consumer Finance Companies. ← 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