Banking Exam Mock Test

10 Questions

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Banking Exam Quizzes & Trivia

If you are on your journey to becoming a banker then the quiz below is perfect for you. It has most of the questions that you may get when it comes to the banking exam. Give it a shot and see if you are ready to hit someone with some complex banking knowledge.


Questions and Answers
  • 1. 
    Your take-home pay, or net income, is:
    • A. 

      The amount you receive after benefits, such as vacation pay and health insurance, have been added.

    • B. 

      The amount you receive after taxes, insurance, or other costs have been subtracted.

    • C. 

      The total amount you earn.

  • 2. 
    The amount of interest you earn on money in your savings accout will depend a lot on which three factors?
    • A. 

      The interest rate, how often you make deposits, and how the financial institution invests your money.

    • B. 

      The interest rate, how long you keep the money in your account, and how the financia institution pays the interest.

    • C. 

      The prime rate, your credit rating, and how you make the deposits (cash, check, or direct deposit).

  • 3. 
    All of the following are good ways to establish a good credit record except:
    • A. 

      Don't write a check for more money than you have in your account.

    • B. 

      Pay your bills in full and on time.

    • C. 

      Use your credit card to buy something you can't really afford.

    • D. 

      Always keep your promises to repay the money you borrow.

  • 4. 
    Charging on a credit card is essentially taking out a loan.
    • A. 

      True

    • B. 

      False

  • 5. 
    Companies that keep track of everyone's credit history are called:
    • A. 

      Big Brother

    • B. 

      Collection Agencies

    • C. 

      Credit Unions

    • D. 

      Credit Bureaus

  • 6. 
    Which one of the following statements is true about a credit card's "minimum payment"?
    • A. 

      It is all you ever have to pay.

    • B. 

      Minimum payments are really just a guideline and it's okay to pay less, but only once in awhile.

    • C. 

      It is the minimum to keep your account in good standing. You should always pay the minimum, but it's much better to pay the entire balance if possible; that will also hep you avoid interest charges, too.

  • 7. 
    A good general guideline is to avoid having credit card debt that exceeds:
    • A. 

      10% of your monthly net income

    • B. 

      The amount of your school loans

    • C. 

      The amount you save on a monthl basis

    • D. 

      20% of your monthly gross income

  • 8. 
    What's the significance of being pre-approved for a loan?
    • A. 

      You'll get higher interest rates.

    • B. 

      You'll know the amount that will be available to you to make the purchase.

    • C. 

      You'll get a longer term for payment.

    • D. 

      You won't need a down payment.

  • 9. 
    What is APR?
    • A. 

      A way to estimate the time or interest rate you would need to double your money on an investment.

    • B. 

      A type of credit that is repaid to the lender in equal amounts, over a fixed period of time.

    • C. 

      A measurement used to compare different loans, that takes into account the interest rate, term, and fees to illustrate the total cost of the loan.

  • 10. 
    A good general guideline is to not borrow more than _____ percent of your annual net income.
    • A. 

      10

    • B. 

      20

    • C. 

      30

    • D. 

      40