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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
Medium of exchange
B
Measure of value
C
Store of value
D
Standard of value
2) Which is NOT a characteristic of money?
A
Durable
B
Uniform
C
Divisible
D
Replaceable
3) Which is NOT an advantage of bartering?
A
uses no money
B
services can be traded too
C
requires many trades
D
can trade for items with more value
4) Fiat money is……….
A
defined as money that is backed by gold
B
defined as money by government decree
C
defined as paper money
D
defined as money in excess reserves
5) What type of money would you classify tea as?
A
Commodity
B
Species
C
Bartering
D
Representative
6) What type of money would you classify a credit card as?
A
Bullion
B
Commodity
C
Representative
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
Durable
B
Uniform
C
Portable
D
Divisible
9) Which is a disadvantage of a debit card?
A
can't get into debt
B
can't over spend easily
C
keeps you organized
D
Identity theft
10) Which is an advantage of a credit card?
A
debt
B
interest rates
C
Fees
D
credit score
*select an answer for all questions
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