
Lesson 3 Banking Today Quiz

Quiz
•
Social Studies
•
10th Grade
•
Medium
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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