Accounting: 9-2 Business Banking

Accounting: 9-2 Business Banking

9th - 12th Grade

10 Qs

quiz-placeholder

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Accounting: 9-2 Business Banking

Accounting: 9-2 Business Banking

Assessment

Quiz

Business

9th - 12th Grade

Hard

Created by

Steve Wills

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary role of banks in the economy?

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An endorsement that limits the amount of money that can be withdrawn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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