Features of Financial Institutions

A bank is a financial institution that offers both individuals and businesses a wide range of services to help them manage their money.

• True

• False

Issuing bank notes, monetary policy (setting interest rates) and financial stability is the role of .......

• TSB

• Bank of England

• HSBC

• All of these

Decisions on monetary policy are made ............ times a year

• Seven

• Six

• Eight

• Five

The Bank of England is responsible for making sure the financial system is .......... and ............. They provide critical services to the real economy in good times and bad.

• Working/Running well

• Good/Proper

• Safe/Sound

• Down/Out

The Bank of England make sure that banknotes include the latest .......................features, and provide training and education resources to help people spot .........notes.

• ant-forgery

• replica

• fake

• damaged

• non tear

One of the most well-known responsibilities of the bank of England is to ............. and .............. banknotes and make sure they get to the places they’re needed.

• Design

• Print

• Replace

• Find

• None of these

The Bank of England is responsible for keeping the UK’s economy on the right track. One of the ways they do this is through .............. ...........(raising or reducing interest rates).

• Economic Policy

• Fiscal Policy

• Monetary Policy

• None of these

Savings are only covered up to £65 000. Beyond this if the bank fails your savings can be lost.

• True

• False

A credit union is a form of co-operative. It is "not run by the members, for the members".

• True

• False

You can only join a credit union if you meet its .................. criteria. Usually this means that you must share the same common bond with the other members.

• Membership fee

• Eligibility

• Joining

• Code of Conduct