Lesson 3 Banking Today Quiz

Lesson 3 Banking Today Quiz

10th Grade

10 Qs

quiz-placeholder

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Lesson 3 Banking Today Quiz

Lesson 3 Banking Today Quiz

Assessment

Quiz

Social Studies

10th Grade

Medium

Created by

Patrick Dwyer

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one advantage of electronic payments over paper checks?

They are more secure.

They are faster and more convenient.

They are less expensive.

They are easier to track.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a primary activity of banks?

Selling goods

Lending money

Providing insurance

Manufacturing products

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is 'limited liability' in the context of a corporation?

Shareholders are responsible for the corporation's debt.

Shareholders are not responsible for the corporation's debt.

The corporation cannot incur debt.

The corporation must pay all debts immediately.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must a bank do to legally accept deposits?

Issue stock

Pay high interest rates

Follow state laws

Hire attorneys

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a Certificate of Deposit (CD) considered as?

A form of electronic payment

A deposit

A loan from a consumer to the bank

A type of savings account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens when a bank receives a new deposit?

It can only invest it in bonds.

It must return it to the depositor.

It can lend out a portion of it.

It must keep all of it as reserves.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the 'spread' in banking terms?

The difference between the interest rate paid on deposits and the interest rate charged on loans.

The total amount of deposits a bank has.

The percentage of reserves a bank must keep.

The number of loans a bank can issue.

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