Banking Quiz
Authored by Richelle Osborner
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12th Grade
Used 24+ times
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51 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary goal of banks as a business?
To provide free services
To earn a profit
To support government policies
To offer loans without interest
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Where does most of a bank's profit come from?
Service fees
Selling financial products
Interest charged on loans
Government subsidies
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
From where do banks get the money they lend to customers?
Government funds
Their own reserves
Deposits of other customers
Stock market investments
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of the Federal Deposit Insurance Corporation (FDIC) in banking?
It regulates the interest rates banks can offer.
It insures deposits up to $250,000.
It provides loans to banks.
It sets the inflation rate.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What requirement is placed on bank owners to ensure regulation?
They must provide free services to customers.
They must invest and keep money on reserve.
They must offer loans to everyone.
They must set their own interest rates.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary difference between commercial banks and credit unions in terms of profit distribution?
Commercial banks distribute profits to members; credit unions distribute to shareholders.
Commercial banks distribute profits to shareholders; credit unions reinvest in the business.
Both distribute profits to shareholders.
Both reinvest profits in the business.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who are the primary customers of commercial banks?
Members with a common characteristic
Any consumer
Only business owners
Only government entities
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