What is the primary reason people historically started bank accounts?
The Functions of Modern Banks

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Business
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11th Grade - University
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Hard
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To get free financial advice
To avoid paying taxes
To receive interest on their deposits
To hide money from others
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of bank account typically offers the lowest risk but also the lowest interest?
Money market accounts
Savings accounts
Certificates of deposit
Investment accounts
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of a certificate of deposit (CD)?
Fixed interest rate
Unlimited withdrawals
High risk
No interest earned
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do banks primarily earn profit from loans?
By charging service fees
Through interest rate differences
By selling customer data
Through government subsidies
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is a credit score important when applying for a loan?
It sets the loan interest rate
It guarantees loan approval
It determines the loan amount
It predicts the likelihood of timely repayment
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a mortgage primarily used for?
Buying a car
Paying for education
Purchasing real estate
Starting a business
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is typically required from a borrower when taking out a mortgage?
A business plan
A down payment
A co-signer
A full cash payment
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