What is the primary role of banks in the economy?
Accounting: 9-2 Business Banking

Quiz
•
Business
•
9th - 12th Grade
•
Hard

Steve Wills
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To print and distribute physical money
To act as intermediaries between depositors and borrowers
To set interest rates for the entire economy
To provide security and surveillance services for businesses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Net Interest Margin?
The total amount of money a bank has in its vaults
The interest rate set by the Federal Reserve
A government-imposed limit on how much interest a bank can earn
The difference between the interest banks earn on loans and the interest they pay to depositors
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of account typically allows for unlimited withdrawals and deposits?
Money market account
Savings account
Certificate of Deposit (CD)
Checking account
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of FDIC insurance?
To protect against theft of physical cash
To protect depositors against the loss of their insured deposits if a bank fails
To insure the physical buildings of banks
To guarantee bank loans to businesses
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a restrictive endorsement on a check?
A signature that restricts the time period during which a check can be cashed
A signature with specific instructions, such as 'For deposit only'
A legal restriction placed by the government on large transactions
An endorsement that limits the amount of money that can be withdrawn
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main reason businesses use checking accounts?
For long-term investment purposes
To earn high interest on stored funds
To avoid paying taxes on income
For security, convenience, and liquidity of funds
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can businesses deposit money into their bank accounts?
Through Electronic Funds Transfer (EFT)
By borrowing from another bank
By purchasing stocks
Investing in real estate
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