Free Printable Types and Characteristics of Money

1.

This type of money does not have any intrinsic value and does not represent an asset in a vault.

a)

Commodity money

b)

Representative money

c)

Fiat money

2.

This type of money is considered legal tender and gets its value from the people's faith in the government.

a)

Commodity money

b)

Representative money

c)

Fiat money

3.

The fact that people will allow you to buy items with a $20 bill is an example of which characteristic of money.

a)

Durability

b)

Portability

c)

Divisibility

d)

Uniformity

e)

Acceptability

4.

The fact that a $20 bill can be exchanged for a 10, a 5 and 5 ones is an example of which characteristic of money?

a)

Durability

b)

Portability

c)

Divisibility

d)

Uniformity

e)

Acceptability

5.

Our money supply is limited in an attempt to control its value. This is an example of which characteristic of money?

a)

Durability

b)

Portability

c)

Divisibility

d)

Scarcity

e)

Acceptability

6.

People exchange, or trade money for goods or services. (What is this called?)

a)

Medium of Trade

b)

Medium of Exchange

c)

Trade

d)

Exchange

7.

Which part of the Federal Reserve System serves as the “bankers bank”?

a)

Board of Governors

b)

Federal Reserve Banks

c)

Federal Open Market Committee (FOMC)

d)

Department of Treasury

8.

The Federal Reserve ensures banks and the rest of the financial system are ____ and consumers are protected.

a)

controlled

b)

monitored

c)

stable

d)

deregulated

9.

If we did not have money, we would have to _____, or trade for something of equal worth.

a)

barter

b)

currency

c)

debt

10.

Coins and paper bills make up the _____ of the United States.

a)

barter

b)

currency

c)

debt

11.

_____ accept deposits from depositors and lend money to businesses and consumers.

a)

Financial institutions

b)

Federal Reserve System

c)

District banks

12.

The _____ is the central bank of the United States.

a)

Financial institutions

b)

Federal Reserve System

c)

District Banks

13.

The central banking system in the United States.

a)

Federal Reserve

b)

The U.S. Treasury

c)

The Mint

d)

First National Bank of the U.S.

14.

The U.S. Treasury prints all paper money through the...

a)

Bureau of Engraving and Printing

b)

The Federal Reserve

c)

Bureau of U.S. Mints

d)

Office of the President

15.

The U.S. Treasury mints all coin through the...

a)

Bureau of Engraving and Printing

b)

The Federal Reserve

c)

Bureau of U.S. Mints

d)

Office of the President

16.

Newly printed money is distributed to banks through the...

a)

Bureau of Engraving and Printing

b)

The Federal Reserve

c)

Bureau of U.S. Mints

d)

Office of the President

17.

Responsibilities of the U.S. Treasury include...

a)

Manages all debts owed to the U.S. government

b)

Levies and collects federal income tax through the Internal Revenue Service (IRS)

c)

Oversees the building and repair of the national interstate system.

d)

Directs all operations for NASA.

18.

The U.S. Treasury funds the government through...

a)

Federal Income taxes paid by the public

b)

Import taxes paid by countries who import goods

c)

Borrowing money from foreign governments

d)

Selling property owned by the government such as national parks.

19.

How does the U.S. Treasury impact the U.S. economy?

a)

Oversees the creation of our money, funds all government agencies, and serves an advisory role on financial and economic matters facing the United States

b)

By making enough money for everyone to be happy.

c)

By making sure you get your tax refund check quickly

d)

By making sure that foreign governments pay for what they buy from the United States

20.

Which federal agency is in charge of levying and collecting income taxes?

a)

The U.S. Treasury

b)

The Federal Reserve

c)

The Federal Bureau of Investigation

d)

The Central Intelligence Agency

21.

A card that can only be used at a specific store.

a)

gift card

b)

check

c)

debit card

d)

EFT

22.

A payment using a smartphone or tablet.

a)

payment app

b)

check

c)

debit card

d)

credit card

23.

EFT means _____________

a)

eco-friendly transfer

b)

everyone flees tennessee

c)

electric flood transfer

d)

electronic funds transfer

24.

A card issued by a bank that allows a person to borrow money.

a)

EFT

b)

check

c)

gift card

d)

credit card

25.

Paper form of payment that can bought at a post office, convenience store, or grocery store.

a)

payment app

b)

EFT

c)

debit card

d)

money order

26.

A card that is connected to a person's checking account.

a)

money order

b)

check

c)

gift card

d)

debit card

27.

How are debit cards and credit cards different?

a)

A credit card is YOUR money.

b)

You can buy a debit card at the post office

c)

A debit card is YOUR money.

d)

They are both the same

28.

People can use a ___________ to pay for bills if they do not have a checking account.

a)

gift card

b)

money order

c)

credit card

d)

debit card

29.

A fast and easy way to pay a person using your phone is _____________.

a)

payment app

b)

gift card

c)

check

d)

cash

30.

What is NOT an advantage of using not using cash?

a)

convenient

b)

easy

c)

fast

d)

difficult for some people

31.

Which is DISADVANTAGE a cashless society?

a)

easy to budget

b)

safer

c)

convenient

d)

identify theft

32.

Direct deposit, online payments, and ATMs are all examples of Electronic Funds Transfers

a)

True

b)

False

33.

What is a 'cashless society'?

a)

using coins and bills

b)

paying for things using gold and silver

c)

paying for goods and services without using cash

d)

a society that works nights and weekends

34.

What is being described as the future of physical money in the video?

a)

It will be stored in vaults

b)

It will disappear and become more electronic

c)

It will be minted more efficiently

d)

It will only be found in museums

35.

1. What is the meaning of the word "cashless"?

a)

A. Using only coins and paper money

b)

B. Having no access to banks

c)

C. Making transactions without using physical money

d)

D. Saving money in the form of cash

36.

2. A "transaction" is best described as:

a)

A. A financial crime

b)

B. A conversation between two people

c)

C. The process of buying or selling something

d)

D. An online advertisement

37.

3. The word "currency" refers to:

a)

A. A type of online banking

b)

B. The official money used in a country

c)

C. An illegal payment

d)

D. A mobile banking app

38.

4. What is a synonym of "convenience"?

a)

A. Difficulty

b)

B. Privacy

c)

C. Ease

d)

D. Obstacle

39.

7. In the article, "money laundering" refers to?

a)

A. Washing old money to make it clean

b)

B. Sending money overseas for charity

c)

C. Hiding the illegal origin of money

d)

D. Exchanging foreign currencies legally

40.

8. What does it mean to evade taxes?

a)

A. To pay more than necessary

b)

B. To avoid paying taxes illegally

c)

C. To report all income to the government

d)

D. To save money in a bank

41.

9. Which word means no longer useful or outdated?

a)

A. Obsolete

b)

B. Secure

c)

C. Modern

d)

D. Expensive

42.

10. If something is described as a glitch, what does it mean?

a)

A. A serious problem in the law

b)

B. A small error or technical issue

c)

C. A good feature of a system

d)

D. A type of security

43.

11. What does vulnerable mean in the context of a cashless society?

a)

A. Very confident

b)

B. Protected from harm

c)

C. At risk of being harmed or attacked

d)

D. Able to save more money

44.

12. What does the word mint (as in “minting coins”) mean?

a)

A. To save old coins

b)

B. To design paper money

c)

C. To produce metal coins

d)

D. To exchange foreign currencies

45.

13. Which of the following is the best meaning of the word deposit?

a)

A. To throw away money

b)

B. To borrow cash from a friend

c)

C. To put money into a bank account

d)

D. To exchange one currency for another

46.

Title: The Rise of Cashless Society

In many countries, people are using less cash and relying more on digital payment. This social phenomenon has been growing rapidly because technology makes financial transactions faster and safer. People can buy groceries, pay for transportation, and even donate money just by tapping their phones.

However, this system also brings challenges. Some groups of people, especially the elderly and those in rural areas, still depend on cash. They may find it difficult to adapt to digital payment. Moreover, cashless systems require strong internet and electricity. If these systems fail, people cannot access their money.

Therefore, while a cashless society makes life easier for many, it also creates new problems of inequality and dependence on technology.

What is the main idea of the text?

a)

People no longer need money in the future

b)

Cash is more reliable than technology

c)

Cashless society is only for young people

d)

Technology has no impact on money

e)

Cashless society makes life easier but also challenging

47.

Title: The Rise of Cashless Society

In many countries, people are using less cash and relying more on digital payment. This social phenomenon has been growing rapidly because technology makes financial transactions faster and safer. People can buy groceries, pay for transportation, and even donate money just by tapping their phones.

However, this system also brings challenges. Some groups of people, especially the elderly and those in rural areas, still depend on cash. They may find it difficult to adapt to digital payment. Moreover, cashless systems require strong internet and electricity. If these systems fail, people cannot access their money.

Therefore, while a cashless society makes life easier for many, it also creates new problems of inequality and dependence on technology.

Why has cashless society become more popular?

a)

Because people dislike using cash

b)

Because it is easier to steal digital money

c)

Because governments force people to stop using cash

d)

Because technology makes transactions faster and safer

e)

Because it only works in urban areas

48.

Title: The Rise of Cashless Society

In many countries, people are using less cash and relying more on digital payment. This social phenomenon has been growing rapidly because technology makes financial transactions faster and safer. People can buy groceries, pay for transportation, and even donate money just by tapping their phones.

However, this system also brings challenges. Some groups of people, especially the elderly and those in rural areas, still depend on cash. They may find it difficult to adapt to digital payment. Moreover, cashless systems require strong internet and electricity. If these systems fail, people cannot access their money.

Therefore, while a cashless society makes life easier for many, it also creates new problems of inequality and dependence on technology.

Who may find it hard to adapt to cashless society?

a)

Teenagers

b)

Office workers

c)

Elderly and rural people

d)

Students

e)

Tourists

49.

Title: The Rise of Cashless Society

In many countries, people are using less cash and relying more on digital payment. This social phenomenon has been growing rapidly because technology makes financial transactions faster and safer. People can buy groceries, pay for transportation, and even donate money just by tapping their phones.

However, this system also brings challenges. Some groups of people, especially the elderly and those in rural areas, still depend on cash. They may find it difficult to adapt to digital payment. Moreover, cashless systems require strong internet and electricity. If these systems fail, people cannot access their money.

Therefore, while a cashless society makes life easier for many, it also creates new problems of inequality and dependence on technology.

What is one of the risks of a cashless system?

a)

Lack of ATMs

b)

Too many people donating money

c)

Increasing value of cash

d)

Weak internet and electricity

e)

People saving more money

50.

Title: The Rise of Cashless Society

In many countries, people are using less cash and relying more on digital payment. This social phenomenon has been growing rapidly because technology makes financial transactions faster and safer. People can buy groceries, pay for transportation, and even donate money just by tapping their phones.

However, this system also brings challenges. Some groups of people, especially the elderly and those in rural areas, still depend on cash. They may find it difficult to adapt to digital payment. Moreover, cashless systems require strong internet and electricity. If these systems fail, people cannot access their money.

Therefore, while a cashless society makes life easier for many, it also creates new problems of inequality and dependence on technology.

The word “phenomenon” in paragraph 1 can be best replaced by …

a)

habit

b)

creation

c)

invention

d)

improvement

e)

event

51.

Title: The Rise of Cashless Society

In many countries, people are using less cash and relying more on digital payment. This social phenomenon has been growing rapidly because technology makes financial transactions faster and safer. People can buy groceries, pay for transportation, and even donate money just by tapping their phones.

However, this system also brings challenges. Some groups of people, especially the elderly and those in rural areas, still depend on cash. They may find it difficult to adapt to digital payment. Moreover, cashless systems require strong internet and electricity. If these systems fail, people cannot access their money.

Therefore, while a cashless society makes life easier for many, it also creates new problems of inequality and dependence on technology.

What is the author’s attitude toward a cashless society?

a)

Fully supportive

b)

Completely against it

c)

Neutral but aware of pros and cons

d)

Ignorant

e)

Afraid of technology

Types and Characteristics of Money

Total questions: 51

Worksheet time: 28mins

3. The word "currency" refers to:

4. What is a synonym of "convenience"?

A. Difficulty

C. Ease

7. In the article, "money laundering" refers to?

A. Washing old money to make it clean

B. Sending money overseas for charity

C. Hiding the illegal origin of money

D. Exchanging foreign currencies legally

8. What does it mean to evade taxes?

A. To pay more than necessary

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