Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Money And Banking Review
Test Description: Money and Banking review
Instructions: Answer all questions to get your test result.
1) _____ is a written order to a bank to pay a stated amount to a person or business.
A
Cash
B
A credit card
C
A debit card
D
A check
2) The ______________ provides a quick formula for computing how long it will take to double your money invested at a given interest rate.
A
Rule of 62
B
Rule of 72
C
Rule of 63
D
Rule of 73
3) ______________ refers to the specific amount of money circulating in a country's economy at a particular period of time.
A
The time value of money
B
Money supply
C
Cash supply
D
Monetary policy
4) True or false? The “time value of money” means that the value of an amount of money is greater today than the value of the same amount of money in the future.
A
FALSE
B
TRUE
5) ATM stands for...
A
automatic teller money
B
automated teller machine
C
automatic time machine
D
automated transfer of money
6) The FTC protects consumers by
A
encouraging banks to be fair and honest with customers.
B
discouraging competition in the marketplace.
C
insuring deposits up to $250,000 per person, per bank.
D
encouraging competition in the marketplace.
7) What two numbers are at the bottom of a personal check?
A
account number and PIN number
B
routing number and PIN number
C
routing number and account number
D
PIN number and ATM number
8) Who's job is it to investigate fraud and other securities law violations?
A
SCA
B
SEC
C
FOMC
D
FTA
9) You need to deposit money into an account to use all of the following services except a
A
debit card
B
savings account
C
money share account
D
credit card
10) What government agency insures bank deposits up to $250,000 per bank per customer per account?
A
FIDC
B
SEC
C
SCA
D
FDIC
11) The amount that is earned on an investment; also known as the fee for borrowing money
A
endorsement
B
income
C
principal
D
interest
12) A promissory note that provides payment to the bearer when redeemed
A
bank run
B
money note
C
bank note
D
payment note
13) Has intrinsic value and is worth something in its own right
A
currency money
B
fiat money
C
monetary policy
D
commodity money
14) Money put at risk for the purpose of making money
A
borrowing
B
saving
C
spending
D
investing
15) A check that is returned due to insufficient funds
A
deposit slip
B
insufficient funds check
C
fraud check
D
bounced check
16) True or false? Currency is the practice of trading by use of commodities or products instead of money.
A
FALSE
B
TRUE
17) Common fees that may be charged by a depository institution include all EXCEPT:
A
Late fee
B
Minimum Balance fee
C
Overdraft fee
D
ATM fee
18) Savings tools offered by depository institutions may earn interest. Which of the following statements is NOT TRUE about interest?
A
When paying interest, look for low rates.
B
When earning interest, look for low rates.
C
The amount of interest earned or paid is determined by the interest rate.
D
Interest is the price paid for using someone else’s money.
19) Fiat money
A
is an amount earned on an investment
B
has intrinsic value and is worth something in its own right.
C
has value because the government says that it does.
D
is filled out at a bank when you make a deposit.
20) True or false? Compound interest is interest earned on the principal plus any previously earned interest.
A
FALSE
B
TRUE
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?