
9BFM revision quiz
Authored by Peta Noyes
Business
9th Grade
Used 2+ times

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20 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following are financial institutions?
ANZ
Westpac
ING
Credit Union Australia
BHP
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Financial institutions are
Banks
Credit Unions
Building Societies
All answers are correct
3.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Banks make money
through interest charged in relation to loans
by charging fees e.g. monthly fees, fees to transfer funds, late payment fees
by paying interest to customers who have savings accounts
from interest charged on credit cards
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do banks aim to make money?
They are public companies.
They have a responsibility to make a profit so share prices increase.
They need to pay associated costs e.g. salaries of staff, electricity and rent for branches
All answers are correct
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A secured personal loan
is used for a specific purpose disclosed to the bank
can be used to buy any product desired
can only be used to purchase an expensive item e.g. house or car
all answers are correct
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Examples of a secured loan would be
borrowing $500 000 to purchase a home
borrowing $30 000 to purchase a new car
borrowing $1000 to purchase a laptop
borrowing $5000 to spend on a range of items
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A bank account used to cover daily expenses which does not earn any interest
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