Gr 7 bjc review 2025

GR 7 2025 Review

By lex Clarke

Banking

By lex Clarke

Notes Summary Banking 1

A bank is a business that borrows and lends money. It borrows money from customers called depositors. It lends money to other customers called borrowers. It pays fees to the depositors and collects fees from the borrowers. The fees are called interest. The bank makes a profit by collecting more interest than it pays out. Modern banks do many other things as well. Banking is the service of dealing with these financial transactions.  Before the use of currency(money used in a certain place) people used barter-which was exchanging goods and services for other goods and services of equal value.

A person who has money deposited(put in an account) in a bank is said to have a bank account. One kind of bank account is called a checking account. A person with a checking account can write checks to pay for things. A check is an instruction to the bank to pay out money from that person’s account. People can also use a plastic card, called a debit or check card, to pay out money from their checking accounts. Another kind of bank account is a

savings account. People keep money in savings accounts in order to earn interest. People and businesses often borrow money from banks. The money they borrow is called a loan.

They pay the loan back with interest.

Notes Summary Banking 2

​Types of banks/financial institutions 

 

1. Commercial banks- The banks most people use. 

2. Offshore banks- trade in foreign currency for foreign clients 

3. Trust banks- manage funds for clients who are avoiding taxes in their own countries. 

4. Investment banks- sell stocks and bonds.  

5. Credit unions-make loans to workers. Credit unions are formed by “members” who pool their funds together and control the institution. Nonprofit 

6.  Central banks—such as the Central bank of the Bahamas are responsible for their country’s money.  

7. International banks lend money to developing countries. 

 

Notes Summary Banking 3

​Services banks offer 

 

1. Bank Accounts 

A bank account is a place where you can deposit your money. Bank account types include Savings, Checking, business accounts 

 

2. Credit Cards 

A credit card is a thin rectangular piece of plastic or metal issued by a bank or financial services company that allows cardholders to borrow funds to pay for goods and services with merchants that accept cards for payment 

 

3. ATMs 

ATMs allow you to deposit funds, withdraw cash, and check your account balances without seeing a bank teller during business hours. 

 

4. Digital Banking 

Bank websites and apps let you perform basic banking transactions from anywhere at any time of day. These transactions include mobile check deposits, transfers between accounts, monitoring accounting activity, and online bill pay. 

 

5. Traveler’s Checks 

Traveler’s checks are a way to access money when you’re in another country. You buy the check at your bank, signing it when you buy it, and only you can endorse the check to cash it. That makes it safer than carrying a large amount of money when you travel. 

 

6. Loans 

Banks lend money to borrowers for a variety of purposes. . Banks add interest charges to each monthly payment, which the borrower makes until they pay off the balance. 

 

 

Notes Summary history of banking in Bahamas

​ https://youtu.be/hkGaFjodijo?si=mldiIOJ7qSMyBBSq

Multiple Choice

What is the definition of a bank?

• a trust place that looks after money and valuable things for its customers.

• A store that looks after money and valuable things for its customers.

• A business place that looks after money and valuable things for its customers.

Multiple Choice

What do customers who leave money in the bank for a period of time received?

• food

• gifts

• credit card

• interest

Multiple Choice

What type of services is the picture represents?

• personal cheque

• credit card

• ATM

• travelers' cheque

Multiple Choice

Why is banking important in The Bahamas?

• many people go in this type of business.

• many people learn in this type of business.

• many people are employed in this type of business.

• many people invest in this type of business.

Multiple Choice

What is the profit made by banks used for?

• They go into the public treasury and are used to help provide things for the country.

• They go into the public treasury and is used to help provide food for people

• They go into the public treasury and are used to help the leaders of the country

Multiple Choice

Which type of bank keeps a reserve of foreign currency for the government?

• Commercial Banks

• Central Bank

• Offshore Banks

• Development Bank

Multiple Select

What are the different types of banks?

• Commonwealth Bank

• Scotia Bank

• Offshore Bank

• Commercial Bank

Multiple Choice

What is the 2nd leading industry in The Bahamas?

• Banking and Finance

• Tourism

• Fishing

• Farming

Multiple Choice

Putting money into an account is known as _______________.

• Sinking

• Placing

• Withdrawing

• Depositing

Multiple Choice

Which of the following is a commercial bank in The Bahamas?

• The Central Bank of The Bahamas

• The Development Bank of The Bahamas

• HSBC

• Commonwealth Bank of The Bahamas

Multiple Select

Banking is important as an industry because

• It earns a lot of money

• It employs a lot of people

• It provides jobs for highly skilled workers

• It invites foreign investors

Multiple Choice

Which government ministry controls banking and financial practices in The Bahamas?

• Ministry of National Security

• Ministry of Finance

• Ministry of Foreign Affairs

• Ministry of Public Works

Multiple Choice

Which type of bank offers tax havens?

• Commercial banks

• Offshore banks

• Development banks

• Central banks

Multiple Choice

The term "tax haven" refers to

• Money is kept safely

• Money is not issued

• No payment of taxes on the money

• No one knows the money is there

Multiple Select

How does the Government earn money from the Banking and Financial services industry?

• Taxes

• Stamp Duties

• Employment of workers

• Granting licenses

Multiple Choice

Which type of bank keeps a reserve of foreign currency for the government?

• Commercial Banks

• Central Bank

• Offshore Banks

• Development Bank

Multiple Choice

Which bank regulates all of the government distributing money into the society?

• Commercial banks

• Central bank

• Offshore banks

• Development banks

Multiple Select

What are some functions of a commercial bank? Select all that apply

• Deposits

• Withdraw (Cash)

• Loans

• ATM (Cash Dispenser)

• (issue) Cheques

Multiple Choice

Which of the following is NOT a commercial bank in The Bahamas

• Scotia Bank

• Royal Bank of Canada

• HSBC

• Commonwealth Bank

Multiple Choice

Which of the following is a commercial bank in The Bahamas?

• The Central Bank of The Bahamas

• The Development Bank of The Bahamas

• HSBC

• Commonwealth Bank of The Bahamas

Multiple Choice

The purpose of The Bahamas Development Bank is to ...

• to lend and collect mortgages

• provide medium and long term financing

• give scholarships

• transfer funds to foreign countries

Multiple Select

The function of the Central Bank of The Bahamas is to...

• advise banks and financial institution of The Bahamas

• oversee and regulate banks in the Bahamas

• to help save the governments money

• to advise and regulate the governments money

Multiple Select

The function of the Central Bank of The Bahamas is to...

• advise banks and financial institution of The Bahamas

• oversee and regulate banks in the Bahamas

• to help save the governments money

• to advise and regulate the governments money

Fill in the Blank

First bank in the Bahamas is _______________ established______

Weather

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Multiple Choice

What is weather?

• how hot or cold the air is

• the weight of the air

• conditions of the atmosphere over 100 years

• day to day conditions of the atmosphere

Multiple Choice

what is meteorology?

• study of weather

• study of climate

• study of fossils

• study of bones

Multiple Choice

Rain, snow, sleet, and hail are all forms of _____.

• precipitation
• condensation
• evaporation
• climate

Multiple Choice

The amount of water vapor present in the air is called ________________.

• weather
• humidity
• air mass
• dew point

Multiple Choice

Air pressure is greatest:

• closer to Earth
• farther from Earth

Multiple Choice

Warm air moving upwards from the Gulf of Mexico is:

• continental tropical
• continental polar
• maritime tropical
• maritime polar

Multiple Choice

Humidity is the...

• Amount of Water Vapor in the Air
• Amount of Wind in the Air
• Amount of Precipitation in the Air
• Amount of Pressure in the Air

Multiple Choice

________________ are made of water vapor that condenses in the troposphere.

• dew
• clouds
• evaporation
• transpiration

Multiple Choice

What layer does weather occur in?

• mesosphere
• troposphere
• thermosphere
• stratosphere

Multiple Choice

Where is the ozone layer located?

• Thermosphere
• Troposphere
• Stratosphere
• Mesosphere

Multiple Choice

The blanket of gases that surrounds the Earth

• Lithosphere
• Atmosphere
• Hydrosphere
• Green House Effect

Multiple Choice

what kind of pressure predicts good weather?

• high
• low
• cold
• stationary

Multiple Choice

Which weather tool measures air pressure?

• thermometer
• barometer
• anemometer
• psychrometer

Multiple Choice

This weather tool measures wind speed and direction

• thermometer
• barometer
• anemometer
• psychrometer

Multiple Choice

Which weather tool measures temperature?

• thermometer
• barometer
• psychrometer
• anememeter

Multiple Choice

This weather instrument is an...

• wind vane
• anemometer
• barometer
• thermometer

Multiple Choice

This weather instrument is a...

• anemometer
• barometer
• wind vane
• thermometer

Multiple Choice

This weather instrument is a...

• thermometer
• wind vane
• anemometer
• rain gauge

Multiple Choice

This weather instrument is a...

• rain gauge
• U.F.O.
• satellite
• anemometer

Multiple Choice

This weather instrument is a...

• thermometer
• anemometer
• rain gauge
• barometer

Multiple Choice

This weather instrument is a...

• anemometer
• Christmas ornament
• wind vane
• barometer

Multiple Choice

Temperature is measured in...

• degrees
• inches
• centimeters
• feet

Multiple Choice

This instrument measures air pressure.

• anemometer
• barometer
• rain gauge
• thermometer

Multiple Choice

A low pressure system means we might have this weather.

• Sunny 
• A clear sky
• Dry day
• Stormy or wet

Multiple Choice

This tool photographs clouds and sends data to meteorologists.

• camera
• iPhone 5
• satellite
• radar

Multiple Choice

What pushes weather from place to place?

• magic
• water
• wind
• clouds

Multiple Choice

What does the wind vane point towards.

• Where the wind is coming from
• Where the wind is blowing to
• the sun
• the moon 

Multiple Choice

• thermometer 
• wind vane
• rain gauge 
• barometer 

Multiple Choice

• barometer 
• anemometer 
• hydrometer 
• thermometer 

Multiple Choice

• barometer 
• anemometer 
• rain gauge 
• thermometer 

Multiple Choice

• wind vane
• hydrometer 
• rain gauge 
• anemometer 

Multiple Choice

When air temperatures over the land are cooler than air temperatures over the ocean, a ______ will occur. 

• sea breeze
• land breeze
• atmospheric pressure 
• tornado 

Multiple Choice

When the wind speed is high that is a good indication that: 

• the temp difference between land and ocean is small
• the temp difference between land and ocean is large
• the temp of land and sea are the same (equilibrium) 
• nothing can be inferred by the temp difference

Multiple Choice

What type of breeze would you expect to encounter at 2:00 am?

• land breeze
• sea breeze 
• Febreeze 
• A small breeze

Multiple Choice

The temperature in which water vapor condenses to form clouds. 

• Dew Point
• 78 degrees
• 53 degrees
• Vaporization point 

Multiple Choice

What weather map symbol is this: 

• Cold front
• Warm front
• Stationary front
• Occluded front

Multiple Choice

Storms generally move in what direction? 

• from east to west
• from north to south
• from south to north
• from west to east

Multiple Choice

Water vapor that is released by open bodies of water is called: 

• Evaporation
• Transpiration
• Condensation
• Transportation 

Multiple Choice

The main reason land and sea breezes exist is because: 

• the earth revolves around the sun
• the earth is tilted on an axis
• of the temperature difference between land and water
• of global warming

Multiple Choice

What causes warm air to rise?

• the fact that it's less dense than cold air 
• The fact that it weighs more than cold air 
• The fact that it has higher pressure than cold
• the fact that its more dense than cold air 

Multiple Choice

What can you conclude about prevailing winds from their name? 

• They blow from west to east
• They blow all the time
• The air they contain is very warm 
• The air they contain is very cool

Multiple Choice

How are the winds in the northern hemisphere different from winds in the southern hemisphere? 

• Winds int he northern hemisphere are deflected right; winds int eh southern hemisphere are deflected left
• winds in the northern hemisphere are deflected south; winds in the southern hemisphere are deflected north 
• winds in the northern hemisphere are deflected eart; winds in the southern hemisphere are deflected west
• winds in the northern hemisphere are deflected left; einds in the southern hemisphere are deflected right 

Multiple Choice

If you wanted to visit an area with very little wind, where might you go? 

• The doldrums around the equator
• the jet streams in the northern and southern hemisphere 
• the North or South Pole 
• the area around the Mediterranean Sea 

Multiple Choice

How do jet streams influence the weather? 

• by creating clouds 
• by increasing the moisture in the atmosphere 
• by moving weather from one area to another very quickly 
• by drying out the atmosphere 

Solar system

Mercury

Mercury is the 1st planet of the solar system.It is the smallest planet in the solar system. One side of the mercury is the night side it can get minus 180 celsius(minus 120 f).The other side is 800 degrees celsius(427 degrees f). Mercury has no moon.Mercury have frozen water

Venus

Venus is the 2nd planet of the solar system. Venus is the hottest planet in the solar system.Venus's atmosphere is made up of carbon dioxide.Venus has no moon.Venus's temperature is 465 degrees celsius (900 Degrees f).

Earth

Earth is the 3rd planet of the solar system.Earth is the only planet that has life.Earth is the only planet that have one moon.Only the earth have liquid water.

Mars

Mars is the 4th planet of the solar system.It is also called the red planet.Nasa is trying to make life on mars.Nasa has landed a helicopter on mars.Mars have two moons.Phobos and deimos.Mars have the tallest mountain in the solar system. It is called olympus mons

Write the order of the planets in your journal.

Jupiter

Jupiter is the 5th planet of the solar system. Jupiter is the biggest planet in the solar system.In Jupiter there is a thunderstorm that has been going on for 4 thousand years.Jupiter is the fastest spinning planet in the solar system.Just like saturn jupiter has rings but very thin.

Saturn

Saturn is the 6th planet of the solar system.Saturn is the 2nd biggest planet in the solar system.Saturn has ring made of of ice and dust.Saturn has 62 moons.saturn could float on water.Saturns rings are not solid.

Uranus

Uranus is the 7th planet of the solar system.Uranus is the 3rd biggest planet in the solar system.Uranus is also called the side ways planet because it rotates on it's side.Uranus was discovered on 1781 by william herscal.

Neptune

Neptune is the 8th planet of the solar system.Neptune is the coldest planet in the solar system.Neptune has the strongest wind in the solar system.Neptune has rings.Neptune is the third biggest planet.

Multiple Choice

Earth and the other planets closest to the Sun are made mostly of _______

• gas
• metal
• water
• rock

Multiple Choice

The moon is a natural  ______ of Earth.

• comet
• axis
• satellite
• space probe

Multiple Choice

Earth's ________ on its axis causes day and night.

• rotation
• revolution
• phase
• comet

Multiple Choice

One kind of  _______ is the crescent Moon.  

• axis
• asteroid
• phase
• space probe

Multiple Choice

One full orbit of an object around another object is called a ________.

• axis
• rotation
• revolution
• satellite

Multiple Choice

The __________ has planets, moons, comets, and asteroids.

• solar system
• earth
• rotation
• United States

Multiple Choice

Which factor makes Earth different from all the other planets in the solar system in its ability to support life? 

• The Earth is exposed to rays from the sun. 
• The Earth has only one moon that orbits around it. 
• The Earth rotates in an elliptical orbit around the sun. 
• The Earth has a breathable atmosphere. 

Multiple Choice

Which best explains why the moon has phases?

• The moon’s position changes in relation to the sun and Earth. 
• The sun’s position changes in relation to the moon and Earth. 
• The Earth casts a shadow on the moon as it rotates. 
• The moon rotates along its axis

Multiple Choice

Which outer planets have rings?

• Just Saturn
• Saturn and Jupiter
• Jupiter, Neptune, and Saturn
• all 4 of them

Multiple Choice

a pattern of stars that form an imaginary picture or design in the sky

• Orbit
• Rotate
• constellation
• Milky Way

Multiple Choice

A spiral galaxy of stars that contains our Sun

• Planisphere
• Intensity
• Star
• Milky Way

Multiple Choice

Which is the largest object in our solar system?

• Sun
• Jupiter
• Earth
• Pluto

Multiple Choice

Which is the second closest planet to the sun?

• Earth
• Saturn
• Venus
• Mercury

Multiple Choice

Which planet is third from the sun?

• Mars
• Pluto
• Venus
• Earth

Multiple Choice

Which planet is the hottest planet?

• Mercury
• Mars
• Venus
• Saturn