Banking and Finance Quiz

Quiz
•
Financial Education
•
9th - 12th Grade
•
Medium
Jason Cross
Used 3+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Maria deposits $5,000 in a savings account earning 2% annual interest. The bank uses that money to lend out at 6%. How does this process benefit the economy?
Maria loses money while the bank profits.
The bank charges Maria a fee to cover the loan.
Maria can borrow back her own money anytime.
The bank’s lending helps someone buy a home or start a business.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A local farmer needs a $20,000 loan to buy new equipment. Which institution is most likely to offer him fair terms and reinvest in the local community?
Payday lender
Large international investment bank
Hedge fund
Local credit union
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A startup raises $500,000 through Kickstarter. What is a key benefit of crowdfunding over a traditional bank loan?
They avoid sharing profits with investors.
Investors automatically become company owners.
If the project fails, each backer only loses a small amount.
Banks will forgive any future debt.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
John has $10,000 to invest but doesn’t want his financial advisor motivated by sales commissions. What’s his best option?
A credit card company earning on interest charges
A payday lender offering fast cash
A bank that gives commission bonuses to salespeople
An investment bank that charges a flat yearly fee
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A bank offers 0.5% interest on savings but loans money at 5%. What is the biggest risk the bank faces?
Depositors might sue the bank for low rates
The bank forgets to charge interest
Interest rates could rise, hurting profits
Borrowers might default and not repay loans
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which situation MOST closely caused the 2008 financial crisis?
Banks refused to give out any loans at all
Banks ran out of paper money and closed
Banks increased interest rates on savings accounts
Banks gave loans to many people who couldn’t repay them
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A country struggles with ten local currencies. How could banks help solve this problem?
Banks create one world currency
Banks tax traders to prevent competition
Banks trade currency and convert values fairly
Banks stop all trade until one currency is used
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