This quiz works best with JavaScript enabled. Home > Finance > Banking > Banking And Financial Institutions > Banking And Financial Institutions – Quiz 26 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Banking And Financial Institutions Quiz 26 (10 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which is NOT a factor to consider when shopping for a bank? A) Minimum balances requirements. B) Interest Rates and Fees. C) Celebrity Endorsement. D) ATM availability. Show Answer Correct Answer: C) Celebrity Endorsement. 2. An overdraft is ..... A) A check that has not been cashed yet. B) A check that has an error on it and has been voided. C) A check that is written over the amount available in the account. D) A check that is written for more than the amount owed. Show Answer Correct Answer: C) A check that is written over the amount available in the account. 3. The fed manages the amount of ..... in the economy to try to keep inflation low and stable. A) Companies. B) Money. C) People. D) Credit cards. Show Answer Correct Answer: B) Money. 4. The laws applicable to banks is ..... A) Consumer Protection Act, 2019. B) Companies Act 2013. C) Sale of goods Act, 1930. D) Indian Contract Act, 1872. Show Answer Correct Answer: B) Companies Act 2013. 5. Which of the following statements about savings accounts is FALSE? A) Savings accounts pay interest on the money you deposit. B) Savings accounts allow an unlimited amount of withdrawals each month. C) Savings accounts may require you to maintain a minimum balance to avoid paying a fee. D) Savings accounts are best used to store money for longer-term goals. Show Answer Correct Answer: B) Savings accounts allow an unlimited amount of withdrawals each month. 6. The term bank derived from Italian word A) Bank. B) Banque. C) Banco. D) Banko. Show Answer Correct Answer: C) Banco. 7. Which of the following statements about M1 Assests is true? A) M1 assets are stored in savings accounts. B) M1 assets cannot be converted easily into cash. C) M1 assets can be converted into cash easily. D) M1 assets do not have liquidity. Show Answer Correct Answer: C) M1 assets can be converted into cash easily. 8. The Federal Reserve uses ..... to regulate the nation's money supply? A) Fiscal policy. B) Proposed legislation. C) Monetary policy. D) Regulations. Show Answer Correct Answer: C) Monetary policy. 9. Interest earned only on the principal, which is the amount of money originally deposited A) Simple interest. B) Compound interest. C) Accumulation. D) None of above. Show Answer Correct Answer: A) Simple interest. 10. What is online banking? A) Banking services that requires your signature. B) Banking through online services. C) Banking through Google Chrome. D) None of above. Show Answer Correct Answer: B) Banking through online services. ← PreviousRelated 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