17.2 Our Banking System Quiz

What is the largest source of revenue for most banks?

• Fees and service charges

• New checking accounts

• Interest on loans

• Tariffs

Unlike most banks, mutual savings banks _________

• Are nonprofit institutions

• Are owned by depositors

• help families buy land or houses

• All the above

_________________ is money in a checking account.

• Fractional reserve banking

• Money supply

• Loan

• Demand deposit

Which of the following is not a major service banks provide?

• Checking accounts

• Savings accounts

• Donations to Charity

• Loans

_____________________________ is when banks keep a percentage of checking and savings deposits in reserve.

List TWO reasons why people take out a loan.

Evaluate responses using AI:

OFF

Which non-profit banking institution serves only its members?

• Bank

• Mutual savings bank

• Savings and loan association

• Credit union

When were the first banks created in Europe?

• In the Middle Ages

• During World War I

• During the Cold War

• In the 1800s

______________ is the total amount of money available for use as a medium of exchange.

• Loan

• Demand Deposit

• Money supply

• Fractional reserve banking

List TWO reasons people save money.

Evaluate responses using AI:

OFF