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
A credit card
B
A check
C
Cash
D
A debit card
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 72
B
Rule of 62
C
Rule of 73
D
Rule of 63
3) ______________ refers to the specific amount of money circulating in a country's economy at a particular period of time.
A
Money supply
B
The time value of money
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 transfer of money
C
automatic time machine
D
automated teller machine
6) The FTC protects consumers by
A
encouraging banks to be fair and honest with customers.
B
discouraging competition in the marketplace.
C
encouraging competition in the marketplace.
D
insuring deposits up to $250,000 per person, per bank.
7) What two numbers are at the bottom of a personal check?
A
account number and PIN number
B
PIN number and ATM number
C
routing number and PIN number
D
routing number and account number
8) Who's job is it to investigate fraud and other securities law violations?
A
SCA
B
FOMC
C
SEC
D
FTA
9) You need to deposit money into an account to use all of the following services except a
A
savings account
B
money share account
C
debit card
D
credit card
10) What government agency insures bank deposits up to $250,000 per bank per customer per account?
A
FDIC
B
SEC
C
FIDC
D
SCA
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 note
B
payment note
C
bank run
D
money note
13) Has intrinsic value and is worth something in its own right
A
currency money
B
monetary policy
C
commodity money
D
fiat money
14) Money put at risk for the purpose of making money
A
spending
B
borrowing
C
investing
D
saving
15) A check that is returned due to insufficient funds
A
fraud check
B
bounced check
C
deposit slip
D
insufficient funds 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
ATM fee
B
Late fee
C
Overdraft fee
D
Minimum Balance fee
18) Savings tools offered by depository institutions may earn interest. Which of the following statements is NOT TRUE about interest?
A
The amount of interest earned or paid is determined by the interest rate.
B
When earning interest, look for low rates.
C
Interest is the price paid for using someone else’s money.
D
When paying interest, look for low rates.
19) Fiat money
A
is filled out at a bank when you make a deposit.
B
has intrinsic value and is worth something in its own right.
C
has value because the government says that it does.
D
is an amount earned on an investment
20) True or false? Compound interest is interest earned on the principal plus any previously earned interest.
A
TRUE
B
FALSE
*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?