Business - Ch 12 Money And Banking

Test Description: Review for test

Instructions: Answer all questions to get your test result.

1) Money has always been either paper or coin

2) money should be both a standard of value and a store of value

3) money should be a way to measure the weight, amount, size, or value of something. this means that money is a

4) money has to hold its value over time, or can be stored or saved. this means money is a

5) money has to be generally accepted as a measure of value and wealth. This means money is a

6) giant concrete blocks cannot be money because they are not

7) you need pennies, nickels, dimes, 20's and 50's because money must be

8) which of the following couldn't be counted as money because of it's durability?

9) a firm that manages money

10) what are the main types of financial institutions?

11) a record of the amount of money a customer has withdrawn or deposited

12) which of the following stores money in the short term?

13) in which of the following do you have to pay interest

14) what is money paid at a certain rate to customers for keeping their money at the bank? Also it could be money you pay the bank to use their money

15) which of the following is an electronic way that money is transferred?

16) what is the primary way banks generate profits?

17) property or goods pledged by a borrower to use as security against a loan if it is not repaid

18) what is co-signing?

19) The Bible encourages saving and lending, but not borrowing

20) if you get a 30 yr loan for 120,000 @ 5% interest. How much interest will you pay over the life of the loan?


*select an answer for all questions

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