This quiz works best with JavaScript enabled. Home > Economics > Institutions > General > Economic Institutions – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Economic Institutions Quiz 4 (18 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. System of roles and norms that governs the distribution and exercise of power in society A) Political institution. B) Religious institution. C) Economic institution. D) Family institution. Show Answer Correct Answer: A) Political institution. 2. Commercial banks earn money in all of the following ways EXCEPT: A) Investing in other companies. B) Charging fees for their services. C) Collecting interest on loans. D) Taking a percentage off of all deposits. Show Answer Correct Answer: D) Taking a percentage off of all deposits. 3. Which is an example of a secondary-sector job? A) Real estate agent. B) Steel factory worker. C) Racher. D) Bank teller. Show Answer Correct Answer: B) Steel factory worker. 4. A business organization that is owned by stockholders and treated by law as if it were an individual person A) Merger. B) Stock option. C) Trust. D) Corporation. Show Answer Correct Answer: D) Corporation. 5. Which of the following institutions is not part of the World Bank community? A) WTO. B) IFC. C) IBRD. D) MIGA. Show Answer Correct Answer: A) WTO. 6. Which account is used for a fixed period of time and allows restricted access to the funds? A) Certificate of Deposit. B) Savings Account. C) Checking Account. D) Money Market Deposit Account. Show Answer Correct Answer: A) Certificate of Deposit. 7. Established by a group of shareholders who have ownership in the corporation and is usually set up to make a profit and provide a return to its shareholders. A) Banks. B) Cooperatives. C) Corporations. D) IMF-World Bank. Show Answer Correct Answer: C) Corporations. 8. Refers to a system of economic exchange involving the centralized collection of goods A) Health. B) Transfers. C) Redistribution. D) Reciprocity. Show Answer Correct Answer: C) Redistribution. 9. What are two characteristics of a bank? A) They are non-profit organizations owned by members. B) They pay profits to their shareholders and can be used by anyone. C) They charge better interest rates on loans and have low fees. D) Deposits are insured for $ 100, 000 by the NCUA. Show Answer Correct Answer: B) They pay profits to their shareholders and can be used by anyone. 10. A change in ownership of an asset, or a movement of funds and/or assets from one account to another. A) Balanced Reciprocity. B) State-Market Relations. C) Transfer. D) Banking. Show Answer Correct Answer: C) Transfer. 11. Which of the following statement is correct? A) Every member country of the IMF automatically becomes the member of the World Bank. B) The World Bank has 45 founder members. C) India is not the founding member of the World Bank. D) IMF is the part of World Bank group. Show Answer Correct Answer: A) Every member country of the IMF automatically becomes the member of the World Bank. 12. All of the following are economic institutions EXCEPT: A) Banks. B) Credit union. C) Court. D) Insurance Companies. Show Answer Correct Answer: C) Court. 13. It is the institution that provides for the production and distribution of goods and services, which people in every society need. A) Markets and States. B) Economy. C) Redistribution. D) Transfers. Show Answer Correct Answer: B) Economy. 14. Where is the headquarter of the WTO? A) Barcelona. B) Geneva. C) Paris. D) New York. Show Answer Correct Answer: B) Geneva. 15. Which of the following is a for-profit institution that offers numerous financial services? A) Commercial bank. B) Credit union. C) Financial counselor. D) School. Show Answer Correct Answer: A) Commercial bank. 16. Tyler needs a place for his paycheck to be direct deposited, he knows he will not earn much interest and does not really like being a member of anything. What would be Tyler's best choice? A) Bank. B) Credit Union. C) Payday Loan. D) Title Pawn. Show Answer Correct Answer: A) Bank. 17. Which of the following body is not related to the WTO? A) Trade Policy Review Body. B) Exchange Rate Management Body. C) Dispute Settlement Body. D) Council of trade in goods. Show Answer Correct Answer: B) Exchange Rate Management Body. 18. What service offered by a bank involves keeping valuables safe (other than just money)? A) Savings account. B) Safe-deposit box. C) Checking account. D) Drive-through window. Show Answer Correct Answer: B) Safe-deposit box. ← PreviousRelated QuizzesInstitutions QuizzesEconomics QuizzesEconomic Institutions Quiz 1Economic Institutions Quiz 2Economic Institutions Quiz 3 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books