Finance Quiz: Part 1

Total Questions : 25

Scoring System:
Correct Answer    : +1 points
Incorrect Answer  : -1 point
Not Answered      :  0 point


The final result will appear at the end. All The Best.
  

1. The safest place for keeping money
Money lender
An iron box
Bank
2. Gold and silver ornaments should be kept in bank lockers
It is safe
No risk of theft
Both
3. ATM can be used for
Cash withdrawal
Statement of account
Both
4. Bank provides loans for
Home
Education
All of above
5. General Insurance relates to insurance against
Fire
Burglary
Both
6. KYC means
Know your character
Know your customer
Both
7. Loans from money lenders are
With High rate of interest
No transparency
All of above
8. ATM password to be shared only with
Spouse
Obedient daughter
None
9. Life insurance means
Insurance of human
Insurance of Life of Machines
Insurance of life of human and Cattle
10. We should keep our savings with banks because
It is safe
Can be withdrawn anytime
Both
11. Internet Banking Refers To
Opening of account through ATM
Operation of account through internet
Both
12. RTGS Stands For
Real Time Gross Settlemen
Ready Time Gross Settlement
Ready Time Grocery Settlement
13. Can Illiterate Person Be Issued Debit Card?
No
Yes
Only in case of joint account
14. NEFT Stands For
National Electronic Fund Transfer
National Electric Fund Transfer
National Electrical Fund Transfer
15. Education Loans
Cover tuition fee & expenses
Are repayable after completion of course
Both
16. What is the federal funds rate?
The interest rate paid by banks on deposits held by the Federal Reserve.
The interest rate charged by the Federal Reserve to member banks.
The interest rate at which banks lend and borrow overnight funds from each other.
17. What is the prime rate?
The interest rate at which the Federal Reserve lends to member banks.
The interest rate charged by banks to their most creditworthy customers.
The interest rate paid by banks on deposits from their customers.
18. What is an interest rate?
The percentage at which an amount of money is borrowed or invested.
The cost of goods and services.
The amount of taxes paid to the government.
19. What is a treasury bill?
A long-term debt security issued by the US government.
A short-term debt security issued by the US government.
A stock issued by the US government.
20. What is a certificate of deposit (CD)?
A bond issued by the US government.
A share of ownership in a company.
A time deposit offered by banks and other financial institutions.
21. What is a money market account?
An interest-bearing account offered by banks and other financial institutions.
A short-term debt security issued by the US government.
A share of ownership in a company.
22. What is the discount rate?
The interest rate charged by banks to their most creditworthy customers.
The interest rate at which the Federal Reserve lends to member banks.
The interest rate paid by banks on deposits from their customers.
23. What is a fixed interest rate?
An interest rate that fluctuates based on market conditions.
An interest rate that remains constant for the life of a loan or investment.
An interest rate that is set by the borrower or investor.
24. What is a variable interest rate?
An interest rate that fluctuates based on market conditions.
An interest rate that remains constant for the life of a loan or investment.
An interest rate that is set by the borrower or investor.
25. What is inflation?
A general decrease in prices and increase in the value of money.
A measure of the creditworthiness of a borrower or issuer.
A general increase in prices and decrease in the value of money.