Money and Banking Quiz

What are the two types of money?

• Currency and paper

• Dollars and cents

• Coins and paper

• Coins and currency

What are two things that keep our financial system safe?

• Regulation

• Loans

• Insurance

• Banks

What are the types of financial institution?

• Withdrawal and Deposit

• Deposit and Borrowing

• Banks and Loans

• Checks and Cash

What is a credit union?

• A nonprofit organization

• People who give out loans from stolen money

• People who give out free credit cards

• Industries that have charge cards

What is commercial banks?

• Offer full banking services to individuals and businesses.

• Makes commercials about banks.

• One of the most regulated industries in the country.

• Currency.

What is insurance?

• Money guaranteed from loans

• Oversee many large commercial banks

• It insures bank accounts up to $250,000

• Bank accounts

What is savings and loan association?

• An insurance company

• Credit union

• People who use the money in their savings account to give out illegal loans

• Loaned money to people who are buying homes

What are the types of deposit and borrowing?

• Money

• Commercial Banks

• Savings and Loan Associations

• Credit union

What are the three functions of money?

• Medium of exchange

• Store of value

• Need to buy products

• Medium of value