Modern Banking Test Review

Modern Banking Test Review

9th - 12th Grade

40 Qs

quiz-placeholder

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Modern Banking Test Review

Modern Banking Test Review

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

Hard

Created by

James Norman

Used 46+ times

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40 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following statements about M1 Assests is true?

M1 assets cannot be converted easily into cash
M1 assets are stored in savings accounts.
M1 assets can be converted into cash easily.
M1 assets do not have liquidity.

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is a family most likely to do if they want to purchase a home?

use a credit card
get a mortgage
open a checking account
purchase a certificate of deposit

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which type of financial institution plays the largest role in the economy?

credit unions
savings banks
savings and loan associations
commercial banks

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which would somebody use to withdraw money from a checking account?

stored-value card
debit card
credit card
gift card

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What kinds of money are included in M1?

Money market funds
currency
savings deposits
small-time deposits

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In which of the following is a positive aspect of using a credit card?

the interest charged on credit cards is lower on all other types of loans
with a credit card, money is automatically deducted from the user's bank account
using a credit card allows consumers to buy goods even if they don't have cash
credit card bills can quickly add up if the conusmer only pays the minimum

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What service is available through home banking on the internet?

checking account balances
withdrawing cash
lending money to a friend
selling gold

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