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Money And Banking
Test Description: Money and Banking review
Instructions: Answer all questions to get your test result.
1) What is NOT 3 functions of money?
A
Store of value
B
Measure of value
C
Medium of exchange
D
Standard of value
2) Which is NOT a characteristic of money?
A
Durable
B
Uniform
C
Replaceable
D
Divisible
3) Which is NOT an advantage of bartering?
A
services can be traded too
B
requires many trades
C
uses no money
D
can trade for items with more value
4) Fiat money is……….
A
defined as money by government decree
B
defined as paper money
C
defined as money in excess reserves
D
defined as money that is backed by gold
5) What type of money would you classify tea as?
A
Species
B
Commodity
C
Representative
D
Bartering
6) What type of money would you classify a credit card as?
A
Representative
B
Bullion
C
Commodity
D
Spieces
7) Which one is a negative of currency?
A
durable
B
acceptable
C
cost to make it
D
divisible
8) Which characteristic of money would a block of ice not meet?
A
Portable
B
Durable
C
Divisible
D
Uniform
9) Which is a disadvantage of a debit card?
A
Identity theft
B
can't get into debt
C
can't over spend easily
D
keeps you organized
10) Which is an advantage of a credit card?
A
Fees
B
interest rates
C
credit score
D
debt
*select an answer for all questions
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