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WorksheetsFundamentals of Money Review
Total questions: 19
Worksheet time: 10mins
Name
Class
Date
1.
Money used to for exchange of goods and service describes which basic function of money?
a)
Medium of exchange
b)
Store of value
c)
Unit of account
d)
Standard of deferred payments
2.
Class discussion of the history of money include all of the following concepts except....
a)
2bits, 4 bits, and 6 bits
b)
discontinuance of the gold standard
c)
fiat money
d)
National Currency Act
3.
Currency is
a)
the exchange of money between buyer and seller
b)
a system of money in general use in a country
c)
the rate of exchange set by a country
d)
used to moderate the business cycle
4.
Form of payment from a unsecured line of credit
a)
Debit Card
b)
EFT
c)
Credit card
d)
Personal check
5.
Increased use of Electronic Funds Transfer allow banks....
a)
to reduce interest charges
b)
to reduce employees
c)
to increase customer service
d)
all of the above
6.
Monetary Theory states.....
a)
if supply of money increases, eco activity will increase
b)
supply of money decreases, eco activity will decrease
c)
both a and b
d)
niether a nor b
7.
Money saved and used in the future describes which basic function of money?
a)
Medium of exchange
b)
Store of value
c)
Unit of account
d)
Standard of deferred payments
8.
Payment card which provides the cardholder electronic access to their bank account
a)
Visa Card
b)
EFT
c)
Debit card
d)
MC card
9.
The central banks monetary policy involves
a)
adjusting interest rates
b)
buying and selling government bonds
c)
adjusting bank reserve ratio
d)
all of the above
10.
The most widely accepted method of financial exchange
a)
cash
b)
EFT
c)
Debit card
d)
personal check
11.
The US central bank
a)
is know as the "Fed"
b)
is an independent entity with congressional oversight
c)
both a and b
d)
none of these
12.
What is a real world term for a bank note?
a)
T bond
b)
mortgage
c)
money
d)
rate
13.
Which of the following forms of exchange refers to money in the physical form of currency
a)
cash
b)
EFT
c)
Debit card
d)
personal check
14.
a slip of paper which allows the user to make a payment from his account to a business
a)
Cash
b)
Debit card
c)
Personal check
d)
Credit card
15.
a type of currency declared to be legal tender, but is not backed by a physical commodity?
a)
Treasury money
b)
Commodity money
c)
Representative money
d)
Fiat money
16.
rate at which a unit of currency of one country is exchanged for a unit of another country
a)
Exchange rate
b)
Inflation rate
c)
Treasury rate
d)
Tax rate
17.
Which of the following treasuries are NOT a type of government bond?
a)
Treasury bonds
b)
Treasury funds
c)
Treasury bills
d)
Treasury notes
18.
Which of the following types of treasuries have the longest maturities of all
government bonds?
a)
Treasury funds
b)
Treasury bills
c)
Treasury notes
d)
Treasury bonds
19.
Who sets the monetary policy in the United States?
a)
Senate
b)
The Federal Reserve
c)
Supreme Court
d)
Federal Trade Commission
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