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Business Quiz Unit 6 Chapter 13

Authored by Heather Whitford-Stronks

Fun

6th - 8th Grade

Used 4+ times

Business Quiz Unit 6 Chapter 13
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In 1871, Canadian parliament passed the Bank Act which outlines regulations that banks must follow. The government gives the bank the authority to operate which makes the banks known as:

Chartered banks

Unchartered banks

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False? Branch banking (CIBC, TD, etc.) offers residents of both small and large cities the same services at the same cost but branch banks are expensive to maintain

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most important function of the Bank of Canada is to:

give the citizens low interest rates

regulate the money supply

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False? Banks are the largest taxpayers in Canada and these profits help build roads, schools, hospitals, etc.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The bank rate, the minimum rate of interest that the Bank of Canada charges is also called the:

prime deal

prime lemonade

prime lending rate

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trust Companies were established in the 1800s to manage and invest

the funds entrusted to them by consumers

the funds made by taxes

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False? Trust Companies provide loans, savings, and chequing accounts, but it is NOT regulated by the Federal government's Bank Act.

True

False

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