Financial Institution Quiz

Which of these is the correct definition of a financial institution?

• A company that provides and/or deals with financial transactions, services or products.

• A company that locks people up for being bankrupt.

• A company that deals with ficticious services or products

• A company that uses online banking.

Which of these is the correct definition of The Bank of England?

• The central bank of the United Kingdom that maintainins monetary policy and financial stability.

• The central bank of the United Kingdom that can only be used by English people.

• The central bank of the United Kingdom that gives loans to people all over the country.

• The central bank of the United Kingdom where all of the money is kept.

Which of these is NOT a financial institution?

• Bank

• Building Society

• Mortgage Broker

• Citizen's Advice Bureau

Which of these is a benefit of a physical bank branch rather than online banking?

• Face-to-face communication in real time.

• Free pen.

• Long queues.

• More convenient for everyone.

Which of these is NOT a two-way communication method?

• Phone

• Live Chat

• Email

• Leaflet

Which of these communication methods is the most expensive for a business to use?

• TV advert

• Radio

• Leaflet

• Social Media post

Which of these communication methods provides the fastest response? (Assuming there are no queues)

• Face-to-Face conversation

• Live chat

• Email

• Letter

Why might someone choose live chat over a face-to-face conversation?

• Social anxiety

• Unable to access face-to-face

• More convenient

• All of the above/other options

Which of these is a drawback of using a pawnbroker?

• High interest rates on loans

• Quick cash

• Ability to buy back any goods that are pawned

• The ability to negotiate the price of an item

What is a credit union?

• A member-owned co-operative service for loans and savings

• A workplace based union for giving people credit

• A collective of credit providers with high interest rates

• A secret society providing secret loans for secret people