Bank of Canada Quiz

When did the Bank of Canada Open?

• March 1935

• March 1934

• March 1938

• March 1937

Who was the first Governor of the Bank?

• Graham F. Young

• Graham F. Towers

• John F. Kennedy

• Paul F. Tompkins

What's the role of the Bank of Canada?

• To take in funds from those with money, pool them, and lend them to those who need funds

• Accepting deposits. The basic function of commercial banks is to accept deposits of the customers

• To Promote the economic and financial welfare of Canada

• monetary policy; promoting a safe, sound and efficient financial system within Canada and internationally

Who controls the Bank of Canada?

• Federal Government

• Board of Directors

• Governor

• Investors

Who owns the Bank of Canada?

• Board of Directors

• Governor

• Investors

• Federal Government

Where does the Federal Government report their spending to?

• Investors' Board

• Treasury Board

• Board of Directors

• Board of Treasury

Where does the Bank of Canada report their spending to?

• Board of Treasury

• Treasury Board

• Board of Directors

• Investors' Board

Who Appoints the Governor and Senior Deputy Governor?

• Board of Directors

• Federal Government

• Provincial Government

• Municipal Government

What's the Interest Rate in 2024?

• 6.50%

• 4.75%

• 5.25%

• 5.00%

What's the difference between Variable and Fixed Interest rates?