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WorksheetsBanking and Finance : Banking Quiz
Total questions: 20
Worksheet time: 10mins
Which of the following is digital currency that does not have a physical form?
Currency
Cryptocurrency
Coinage
What is the purpose of a bank?
A financial intermediary
A financial advisor
A financial investigator
A financial tracker
Valerie has a plastic card that she can only use to withdraw money directly from her checking account. She cannot use this card to make purchases. What is she using?
Debit card
Credit card
ATM card
Check
Which type of account functions like a savings account, but limits the number of transactions?
Savings
Money market
Line of credit
Checking
Which type of account is also a type of loan, which the customer has access to for a set amount of time?
Checking
Money market
Savings
Line of credit
What type of account is used regularly and handles day-to-day transactions?
Savings
Line of credit
Money market
Checkings
Frank has ten dollars. If he does not spend any of the money, it will keep its worth of ten dollars. How is that using money?
A unit of measure
A store of value
A medium of exchange
What type of account holds money that is guaranteed for a specific rate of interest for a specified amount of time?
Savings
Certificate of deposit
Checking
Line of credit
Who guarantees currency?
The person who holds the money
The financial institution that issued the money
The FDIC
The country of issue
What is interest?
A fee paid to save someone else's money
A fee paid to give away someone else's money
A fee paid to use someone else's money
A fee paid to invest someone else's money
What type of account holds money that a customer does not plan to spend immediately?
Line of credit
Checking
Savings
Money market
If Ryan purchases a sandwich, he is using money as:
a medium of exchange
a store of value
a unit of measure
Which type of account functions like a savings account, but limits the number of transactions?
Line of credit
Checking
Money market
Savings
This financial institution helps everyday customers and small businesses with everyday transactions.
Commercial bank
Online bank
Credit union
John has misplaced his debit card, but needs to mail a payment for his electricity bill. What other form of payment can he use?
ATM card
Check
Credit card
Debit card
What entity implements policies concerning the availability of money and its cost?
The National Credit Association
The Federal Reserve System
The Federal Deposit Insurance Corporation
The National Credit Union Administration
Helena set the price of her scarves at $20. How is she using money?
A store of value
A unit of measure
A medium of exchange
A financial intermediary is an entity that acts as a(n) ___________________ between two parties in a financial transaction.
investigator
investor
merchant
middleman
This financial institution can only be accessed using a computer or smart device. What type of institution is this?
Credit union
Commercial bank
Online bank
This financial institution was formed by military personnel to meet their financial needs. What type of institution is this?
Online bank
Credit union
Commercial bank
