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Unit 4 Review

Total questions: 50

Worksheet time: 44mins

Name
Class
Date
1.

A type of money that is backed by a material, such as gold, is referred to as

a)

certificate money

b)

representative money

c)

fiat money

d)

commodity money

2.

Commodity money can be best described as money that is

a)

backed up by a valuable material

b)

valuable based on the material that the money is made from

c)

used to purchase valuable materials

d)

valuable because a government says it is and people accept that it is valuable

3.

Money in the United States is which type of money?

a)

fiat money

b)

representative money

c)

commodity money

d)

speculative money

4.

The Federal Reserve is ....

a)

made up of 12 district banks and member banks

b)

made up of independent district banks

c)

managed by 12 board of directors

d)

made up of the President's money

5.

____________ is the privately owned, publicly controlled central bank of the U.S.

a)

J.P. Morgan Chase

b)

Bank of America

c)

The Federal Reserve System (FED)

d)

Wells Fargo

6.

_____________ are a paper currency issued by the FED

a)

Specie

b)

Federal Reserve Notes

c)

Disney bucks

d)

Shilling

7.

__________ is a U.S. government institution that provides insurance on depositor's accounts

a)

Congress

b)

Department of the Interior

c)

FDIC

d)

Department of Homeland Security

8.

____________ a system in which currency could be exchanged for a certain amount of gold.

a)

Legal tender

b)

Gold Standard

c)

FDIC

d)

Specie

9.

Which of the following is one of the three functions of money?

a)

scarcity

b)

portability

c)

divisibility

d)

store of value

10.

What are M1 and M2?

a)

fiat money

b)

specie

c)

currency

d)

money supplies

11.

When did Congress print money for the first time?

a)

during the Revolutionary War

b)

after the Spanish-American War

c)

during the Civil War

d)

after the War of 1812

12.

The National Banking-System was created by Congress in _________ to standardize currency and banking practices in the U.S. and issued the first national currency known as the Greenback.

a)

1811

b)

1900

c)

1933

d)

1863

13.

You can easily carry money in a pocket or a purse. This reflects what characteristic of money?

a)

durability

b)

legal tender

c)

divisibility

d)

portability

14.

In the early 1800's, currency in the U.S. was issued by

a)

the FED

b)

Congress

c)

a central bank

d)

banks

15.
The name for a part of a business that is bought and sold on the stock market is:
a)
Part
b)
Marker
c)
Stocker
d)
Share
16.
What is the stock market?
a)
A type of farmers market where people buy and sell food.
b)
A place where parts of businesses are bought and sold.
c)
A special type of grocery store that sells stocks.
d)
A type of bank that gives out loans to new businesses.
17.
Why would a company need to issue stock?  
a)
To increase its' customer base.
b)
To raise money.
c)
To stop the government from regulating it.
d)
To show customers that it's successful.
18.
The possibility of losing some or all of a particiular investment.
a)
risk
b)
index
c)
industry
d)
profit
19.
What does the "I" in the interest formula stand for?
a)
Principal
b)
Interest
c)
Rate
d)
Time
20.
What does the "r" in the interest formula stand for?
a)
Principal
b)
Interest
c)
rate
d)
time
21.
Anna invested $2,500 at an annual rate of 5%.  How long will it take until Anna earns $1,125 in interest?
a)
5 years
b)
8 years
c)
10 years
d)
9 years
22.
Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years?
a)
$480
b)
$3,480
c)
$4,800
d)
$7,800
23.

Which of the following is a commonly accepted definition of money?

a)

Any good which is commonly uiesd as a store of value

b)

Any good which is exchanged foe gold at a fixed rate.

c)

Any good which is acceptable to a bank

d)

Any good which is commonly accepted as medium of exchange

24.

Money thai is issued by the authority of the government is called-

a)

full bodied money

b)

fait money

c)

fuduciary money

d)

all the above

25.
In 1789 Alexander Hamilton proposed a national bank.  However, in 1832 President ___________ vetoed the bank.
a)
Hoover
b)
Roosevelt
c)
Wilson
d)
Jackson
26.
Because it must withstand the wear and tear of every day use, money must be:
a)
Portable
b)
Durable
c)
Divisible
d)
Accepted
27.
What is the best rating that a bond can receive?
a)
AAA
b)
AA
c)
BBB
d)
D
28.
One risk about investing in the ______________ is that your money is NOT insured.
a)
Bonds
b)
Savings account
c)
Stock Market
d)
Certificate of Deposits
29.
The fact that fruits do not have a good ________________________ means that they would not make good forms of money.
a)
Medium of exchange
b)
Units of account
c)
Store of value
30.
One reason that the $100 dollar bill is the largest bill printed is because larger bills would not be very:
a)
Portable
b)
Durable
c)
Uniform
d)
Divisible
31.
One reason that cattle might not make the best money, is because they are not very: 
a)
Uniform
b)
Durable
c)
Divisible
d)
There's a limited supply
32.
The main US  stock exchange is located in:
a)
Dallas
b)
Chicago
c)
Los Angeles
d)
New York
33.
When the market is going up, over a long period of time, that is considered to be a:
a)
Bull Market
b)
Bear Market
34.
Your favorite stuffed animal would not be a very good _______________________ because it only has value to you.
a)
Unit of account
b)
Store of value
c)
Divisible product
d)
Medium of exchange
35.

Institutions such as banks that collect funds from savers that can be loaned to borrowers are known as

a)

financial intermediaries

b)

financial assets

c)

dividends

d)

Credit Unions

36.

A person who buys or sells equities for his or her clients is a

a)

Insurance agent

b)

financial advisor

c)

stockbroker

d)

accountant

37.

The Dow Jones

a)

is an indicator of how the Federal Reserve is doing.

b)

is an average of the top 30 firms on Wall Street in terms of how their stock is doing on a daily basis.

c)

dropped the lowest it ever had, one in one day ever, after Lehman Brothers failed.

d)

is the top company on Wall Street.

38.

The network of savers, investors, financial institutions, and financial assets is known as the

a)

stockbroker

b)

equities market

c)

Credit Union

d)

financial system

39.

Institutions such as banks that collect funds from savers that can be loaned to borrowers are known as

a)

financial intermediaries

b)

financial assets

c)

dividends

d)

Credit Unions

40.

The technique of spreading funds over a large number of investments to reduce the portfolio's overall risk is known as

a)

diversification

b)

mutual funds

c)

bear markets

d)

pension plans

41.

True or False: Stock values change daily.

a)

true

b)

false

42.

A mean market when prices move down for several months or years in a row is known as a

a)

bull market

b)

bear market

43.

_______ formal contract to repay borrowed money and interest on the borrowed money at regular future intervals

a)

equities

b)

savings

c)

bond

d)

futures contract

44.

The rate of return on a corporate, municipal, or government bond is its _______ .

a)

par value

b)

compensation rate

c)

interest rate

d)

coupon rate

45.

income not used for consumption

a)

Investment

b)

Savings

c)

diversification

d)

return

46.

the share of ownership in a corporation that gives holders voting rights and a share of profit.

a)

Common Stock

b)

Preferred Stock

c)

Stock index

d)

primary market

47.
"Stock Exchange"
a)
A person who manages the buying and selling of stocks
b)
A market where stocks can be bought and sold
c)
The range of investments held by a person or organization
d)
A report that describes a company's financial history
48.
"Yield"
a)
Money received after making an investment
b)
Percentage of an original investment that an investor collects
c)
The rate of return on a bond
d)
The interest rate a bond seller pays a bond buyer
49.

Stock that is paid first and offers no voting rights

a)

common stock

b)

preferred stock

c)

stock exchange

d)

Primary stock

50.

-Nationally Chartered bank members

-President appoints chair

-Board members serve 14 year terms

-12 Districts


Choose the answer the BEST fits the description above.

a)

stock exchange

b)

federal reserve system

c)

treasury department

d)

Washington, D.C

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