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Role Of Banks
Test Description: Role of Banks
Instructions: Answer all questions to get your test result.
1) The money, property, or other valuables which together represent the wealth of a business or individual. This is the definition for:
A
Collateral
B
Interest
C
Creditworthiness
D
Capital
2) Assets pledged by a borrower to secure a loan which are then subject to seizure if the loan is not repaid. This defines:
A
Loan Amount
B
Capital
C
Capacity
D
Collateral
3) A creditor's analysis of the ability of an individual to repay a loan. This defines:
A
Capital
B
Collateral
C
Creditworthiness
D
Bankruptcy
4) Legal process in which a person can not pay debts, resulting in the liquidation of assets and proceeds sold to creditors. This defines:
A
Collateral
B
Finance
C
Creditworthiness
D
Bankruptcy
5) Inflation is:
A
Increase in prices and decrease in purchasing value of money
B
Decrease in prices and increase in purchasing value of money
C
Increase in the value of money
D
Decrease in the value of money
6) Which of the following is a reason people store money in banks?
A
Security
B
Earn interest on money
C
Easy access to cash through the use of a Debit card
D
All of the above
7) How do banks make a profit?
A
Charge interest on purchases made with debit cards
B
None of the above
C
Banks charge interest on loans they provide clients
D
Banks charge clients interest to store money
8) Which of the following is not a form of loan?
A
Debit Card
B
Car loan
C
Credit Card
D
Mortgage
9) This is anything that has to do with the management of money.
A
Lendor
B
Finance
C
Consumer
D
Credit
10) Tuition is:
A
The cost of attending classes
B
The cost of living on a college campus
C
The cost of books
D
The total cost of attending college
*select an answer for all questions
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