Business Finance # 1

A cooperative that accepts deposits from individuals (who are its members) and provide loans to them at a low interest rates. This financial institution is called _______.

• investment banks

• commercial banks

• credit unions

• insurance companies

One of the financial institutions that operates by collecting premiums from clients is called ____________ .

• brokerage

• credit union

• investment banks

• insurance companies

How many central banks are there in Jamaica

• 1

• 2

• 3

• 4

Who owns the Central Bank

• The Prime Minister

• Government

• Private Business Owner

• Opposition Leader

Acting as a Government's bank means

• All the government departments have an account at the Central Bank

• All the members of parliament have an account at the Central Bank

• Prime Minister has an account tat Central Bank

• None of the Above

The Central Bank can print money whenever they want.

• TRUE

• FALSE

What is the other name for " chequing account"?

• Investment deposit

• Current account

• Time deposit

• Savings account

Which is NOT a function of commercial bank?

• Providing financial and tax planning advice
• Print money
• Providing insurance
• Exchanging foreign currencies

Which of the following is NOT a part of the financial sector

• Central bank

• Credit unions

• Building societies

• Trade Union

I'm an institution which performs the function of accepting deposits, lending funds & making an investment with the main aim of profit maximization.

What am I?

• Commercial Bank

• Central Bank

• Government

• None of these