Section 4.1: Part #1

Section 4.1: Part #1

10th Grade

15 Qs

quiz-placeholder

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Section 4.1: Part #1

Section 4.1: Part #1

Assessment

Quiz

History

10th Grade

Practice Problem

Hard

Created by

Jacob Smith

Used 1+ times

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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of financial institutions?

To provide entertainment services

To build highways, schools, and hospitals

To keep money flowing throughout the economy

To produce paper money and coins

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a depository institution?

Real estate agency

Investment firm

Credit union

Insurance company

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is money known as?

Stock

Currency

Bond

Commodity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who produces paper money in the United States?

The Department of Commerce

The US Treasury

The Federal Reserve

The United States Mint

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to money deposited in a bank?

It is converted into stocks

It is sent to the Federal Reserve

It is lent to other consumers and organizations

It is stored in a vault

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of bank is owned by its depositors?

Commercial bank

Internet bank

Mutual savings bank

Community bank

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary advantage of Internet banks?

Physical locations

Personalized customer service

Paper-based transactions

Higher interest rates on savings

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