BII Final Quizizz

The US economy is best described as a _____.

• Capitalist
• Communist
• Socialist
• Mixed

Which of the following is NOT a way that banks make money?

• Interest on personal loans
• Interest on savings accounts
• Account overdraft charges
• Investing in securities

Which two items on a paycheck stub are the FICA deductions (Federal Insurance Contributions Act-US Federal Payroll Tax) f?

• 401k and 403b
• Social Security and Medicare
• Social Security and Health Insurance
• 401k and Medicaid

All economies and people struggle with scarcity which is best defined as ___.

• unlimited quantities of resources to meet unlimited needs
• limited quantities of resources to meet limited needs
• limited quantities of resources to meet unlimited needs
• unlimited quantities of resources to meet limited needs

Company ABC has performed well during the third quarter. One can see this by comparing the revenues and expenses on which document?

• Balance sheet
• Income statement
• Statement of cash flows
• Retained Earning Statement

Which of the following is true about US Currency?

• Dollars are worth more because they are backed by Gold.
• Dollars were representative money (backed by Gold) but are now Fiat Money.
• Dollars are the only example of FIAT Money.
• All of the above are true statements

_____ refers to the monetary gain or loss of an investment over time.

• ROY
• IRA
• ROI
• IRO

The risk to a bank's financial success of the ability to turn assets into cash is called a(n)______ risk.

• Operational
• Credit
• Reputational
• Liquidity

Which statement is true regarding The Federal Reserve?

• The Federal Reserve is composed of 7 board members who are elected by the President.
• There are 12 regional banks created by the Federal Reserve.
• The Federal Reserve was created to promote the health of the US economy and stability of the US financial system.
• All are true

What is considered a "Good through Excellent '' Credit score?

• 350-400
• 400-500
• 500-670
• 670-850