The Ultimate Quiz On Banking Basics And Services!
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Banking is all about the managing, saving and lending money, credit/ loan and other financial transactions. A bank provides financial assistance by accepting the deposits from the public and creating credit. There are several schemes offered by banks like savings accounts, home mortgages, business loans, and car loans etc. This quiz has been designed to test your knowledge about banking and services. Let's try out this quiz. All the best!
- 1.The business dealing with money and credit is
- A.
Banking
- B.
Health care
- C.
Education
- D.
Technology
- 2.
- A.
Loan
- B.
Mortgage
- C.
Interest
- 3.The money that a person borrows from a bank or other financial institutions is called a
- A.
Interest
- B.
Commercial
- C.
Loan
- 4.The money that a person places in a bank account for the bank to use to invest and that also earns interest is called a
- A.
Loan
- B.
Deposit
- C.
Mortgage
- 5.A loan to pay for a home, business or other real estates over a period of time is a
- A.
Deposit
- B.
Bankruptcy
- C.
Mortgage
- 6.When a person publicly announces they cannot repay their loans it is called
- A.
Deposit
- B.
Bankruptcy
- C.
Mortgage
- 7.Groups of people such as workers who pool their money together for savings and to make loans is called a
- A.
Labor union
- B.
Credit union
- C.
State of the union
- 8.A credit report is
- A.
A list of you financial assets and liabilities
- B.
Your monthly credit card statement
- C.
A loan and bill payment history
- D.
Your credit line with your financial institution
- 9.Negative financial information can stay on your credit report for?
- A.
2 years
- B.
5 years
- C.
7 years
- D.
10 years
- 10.In financial transactions, a CD is a:
- A.
Certificate of Debt
- B.
Certificate of Deposit
- C.
Citizen's Deposit
- D.
Certificate of Collateral
- 11.A ____________________ is used to add funds to a bank account.
- A.
Check
- B.
Deposit slip
- C.
Signature card
- D.
Withdrawal slip
- 12.A service charge on your bank statement will result in:
- A.
A higher balance
- B.
A lower balance
- C.
Earning more interest
- D.
More outstanding checks
- 13.A pawnshop offers loans to people starting their own business.
- A.
True
- B.
False
- 14.Opening a checking account requires completing a signature card.
- A.
True
- B.
False
- 15.A blank endorsement allows anyone to cash a check.
- A.
True
- B.
False
- 16.A outstanding check refers to one written on an account with a very low balance.
- A.
True
- B.
False
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