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Banking and Finance
12th Grade Banking/Finance End of Course Test
| Question | Answer |
|---|---|
| A banks public relations activities... | Apply to the general public and stockholders. |
| If you use another bank's slogan in your media, you would be breaking the - | Copyright law. |
| Adding interest to the principal and paying interest on the new total is called - | Compound interest. |
| The official currency of the US - | Fiat money. |
| What are the main parts that make up the Fed? | The board, the district banks, the member banks |
| The largest denomination of paper currency circulated in the US - | One hundred dollar note |
| Which of the following is a non depository intermediary? | Insurance company. |
| Which of the following is NOT a time deposit? | Checking account. |
| A bank robbery is underway; which of the following should a teller not do? | Do not try to stop the robber in any way. |
| If there is too much money moving in the economy- | Prices rise causing inflation |
| Teenagers are targeted as a potential market; which of the following is an inappropriate advertising campaign - | Mortgage |
| If banks must hold more money in reserve- | There is less available money to lend. |
| The interest rate the FED charges for loans to member banks - | Discount rate |
| The rate of interest the FED charges banks for short-term loans - | Discount rate |
| Which of the following is NOT a typical duty of a bank teller - What do they not do? | Manage large sums of money for individual clients. |
| Which law attempts to protect the information that credit bureaus may collect - | Fair Credit Reporting Act |
| The first thing you should do when a problem arises with a customer is - | Apologize |
| In an economy, a decline in total production lasting a minimum of two quarters - | Recession |
| The 9-digit number printed on a check that identifies the bank - | Transit number. |
| Money on deposit, minus ____, can be loaned to customers. | Reserve requirements |
| Marisol has written a $500 check to Stephen, but she only has $300 in her account and it is returned unpaid to Stephen. Marisol has written - | Bounced check |
| The difference between what a bank pays in interest and what it receives in interest is called - | Spread |
| Which of the following bank collection services allows accounts receivable payments to be sent directly to the bank - | Lock box |
| In the US, banks and the _____ work together to form the banking system and to ensure the money supply is adequate, appropriate, and trustworthy. | Government |
| Documentation of most credit problems stays in a customer's file for at least - | 7 years |
| Which of the following is NOT an element of negotiability- | On demand |
| The physical security of a bank includes all BUT - | Employee friendliness |
| Which of the following accounts are you LEAST likely to encounter at a modern bank - | Passbook account |
| The most common form of a transaction account is - | Checking account |
| Debt divided by Income equals - | Debt ratio |
| The person who signs a draft is called the - | Drawer |
| Which of the following retirement products allows employees to make tax-deferres contributions, which are matched by the company to a trust: | 401 K |
| What happens when bank employees are dressed too casually? | Gives an apathetic image |
| A public employment event at which a bank can present employment opportunities to a large number of people at one time is - | Job fair |
| Which of the following components of a fixed rate loan do not change - | The rate |
| If a good employee comes into work late for the very first time, they most likely will get a - | Verbal worning |
| Which of the following is an example of restrictive endorsements - | For deposit only |
| One result of competition among banks is - | More services |
| Which of the following statement about open-end loans is true (explain the features that makes it open ended) - | The longer you use it, the more you are going to pay. |
| Junk e-mail is commonly referred to as - | Spam |
| Which of the following is NOT a source of income for a bank? | Interest to depositors |
| Which of the following is considered a liability for a bank? | Deposits |
| Which of the following features of a check indicates who is to receive the funds - | Payee |
| Total assets minus liabilities equals - | Equity |
| Except routine processing, this occupies more resources of the banking industry than any other activity - | Fraud |
| All of the following are considered installment loans except - | Line of credit |
| A debt instrument issued for a period of more than one year with the purpose of raising capital through borrowing is - | Bond |
| Which of the following is NOT considered a factor in money creation? | Printing money |
| To combat inflation, the government may institute any of the following policies EXCEPT - | They will not lower taxes |
| If the government restricts the flow of cash into the economy too severely what happens - | Interest rates go up and people can't afford to borrow. |
Created by:
abby.butler