Business - Ch 12 Money And Banking: Question Preview (ID: 17591)

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The Bible encourages saving and lending, but not borrowing
a) true
b) false
c) hummus and pita
d) sweet and sour chicken

if you get a 30 yr loan for 120,000 @ 5% interest. How much interest will you pay over the life of the loan?
a) @ 112,000
b) @39,000
c) @ 7200
d) @69,000

what is the primary way banks generate profits?
a) loans
b) late fees
c) overdraft fees
d) checking accounts

property or goods pledged by a borrower to use as security against a loan if it is not repaid
a) collateral
b) usury
c) promisory note

what is co-signing?
a) becoming responsible for the loans of others
b) trig term
c) getting a loan
d) loaning with interest

which of the following is an electronic way that money is transferred?
a) eft
b) cash withdrawal
c) deposit
d) check

in which of the following do you have to pay interest
a) mortage
b) savings account
c) cd
d) checking account

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
a) interest
b) withdrawal
c) premium
d) principal

which of the following stores money in the short term?
a) checking account
b) savings account
c) ira
d) mortgage

a record of the amount of money a customer has withdrawn or deposited
a) bank account
b) withdrawal
c) deposit
d) financial institution

what are the main types of financial institutions?
a) banks
b) mortgage companies
c) investment banks
d) credit unions

which of the following couldn't be counted as money because of it's durability?
a) tomatoes
b) gold
c) coin
d) parrot feathers

a firm that manages money
a) financial institution
b) deposit
c) credit
d) bank account

you need pennies, nickels, dimes, 20's and 50's because money must be
a) divisible
b) accepted
c) scarce
d) durable

giant concrete blocks cannot be money because they are not
a) portable
b) durable
c) stable

money has to be generally accepted as a measure of value and wealth. This means money is a
a) medium of exchange
b) standard of value
c) store of value

money should be a way to measure the weight, amount, size, or value of something. this means that money is a
a) standard of value
b) store of value
c) medium of exchange

money has to hold its value over time, or can be stored or saved. this means money is a
a) store of value
b) medium of exchange
c) standard of value

Money has always been either paper or coin
a) false
b) true
c) blueberry pancakes
d) breakfast burrito

money should be both a standard of value and a store of value
a) true
b) false
c) five cheese pasta
d) firecracker chicken pasta

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