This quiz works best with JavaScript enabled. Home > Finance > General > Money – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Quiz 13 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Deposits which are payable after the expiry of a fixed period are called- A) Time deposits. B) . C) NONE. D) None of above. Show Answer Correct Answer: A) Time deposits. 2. Which example best illustrates money as a store of value? A) Buying a product at the store with the lowest price. B) Buying a product at the store with the nicest people. C) Buying a product at the store with the most choices. D) Saving your money toward a large purchase. Show Answer Correct Answer: D) Saving your money toward a large purchase. 3. Keisha wants new books. How will she get the money? A) Save it. B) Burn it. C) Borrow it. D) Steal it. Show Answer Correct Answer: A) Save it. 4. It allows us to place a monetary value on goods and services A) Means of exchange. B) Unit of Account. C) Store of Value. D) Legal Tender. Show Answer Correct Answer: B) Unit of Account. 5. When does the bank have a debt to you?A, when you withdraw banknotes from an ATM.B, when you deposit money into your own account.C, when you pay your electricity bill with a cash transfer. A) A. B) B. C) C. D) None of above. Show Answer Correct Answer: B) B. 6. Mrs. Brady took her family out to eat. She handed the waitress a card to purchase the meal. This charge appeared on a bill that she paid three weeks later. A) Credit. B) Debit. C) Both. D) None of above. Show Answer Correct Answer: A) Credit. 7. Something we use from nature A) Natural resource. B) Human resource. C) Capital resource. D) Entrepreneur. Show Answer Correct Answer: A) Natural resource. 8. More characteristics of money A) There's only 5 types of money. B) Money must be available but only in limited supply. C) Money is the most important thing in the world. D) None of above. Show Answer Correct Answer: B) Money must be available but only in limited supply. 9. A good tax should be all of these but? A) Simple. B) Efficient. C) Equal. D) Overbearing. Show Answer Correct Answer: D) Overbearing. 10. When you drive away from the gas pump, you have just paid a(n) A) Import fee. B) Sales tax. C) Corporate income tax. D) Tariff. Show Answer Correct Answer: B) Sales tax. 11. This is the price paid for borrowing money: A) Principal. B) Interest. C) Maturtity. D) Cost. Show Answer Correct Answer: B) Interest. 12. Money must be durable, which means A) Long lasting. B) Easy to carry. C) Limited in supply. D) Easily identified. Show Answer Correct Answer: A) Long lasting. 13. The ease with which an asset can be converted into payment for goods & services. A) Medium of Exchange. B) Legal Tender. C) Liquidity. D) Banking. Show Answer Correct Answer: C) Liquidity. 14. Dollars and cents A) Currency. B) Money. C) Certificate of Deposit. D) Money Market. Show Answer Correct Answer: A) Currency. 15. Which of following is not included in M1 A) Inter bank deposits. B) Currency and coins with public. C) Other deposits with RBI. D) Demand deposits with banks. Show Answer Correct Answer: A) Inter bank deposits. 16. Includes less liquid assets: A) M1. B) M2. C) Currency. D) Debit Card. Show Answer Correct Answer: B) M2. 17. Store of value A) Holding purchasing power for later use. B) Equity. C) Liability. D) Medium of exchange. Show Answer Correct Answer: A) Holding purchasing power for later use. 18. If a country's central bank sells bonds in the open market, the interest rate will most likely change in which of the following ways? A) Increase. B) Decrease. C) Stay the same. D) Not enough information is present to determine effect. Show Answer Correct Answer: A) Increase. 19. Which of these is NOT a function of the Federal Reserve? A) Conduct monetary policy. B) Supervise and regulate banks. C) Provide financial services to banks. D) Manage the federal deficit. Show Answer Correct Answer: D) Manage the federal deficit. 20. When people went to the bank to withdraw their money and the banks had no money was known as the A) Bank Crisis. B) Black Tuesday. C) Stock Market Crash. D) New Deal. Show Answer Correct Answer: A) Bank Crisis. ← PreviousNext →Related QuizzesFinance QuizzesMoney Quiz 1Money Quiz 2Money Quiz 3Money Quiz 4Money Quiz 5Money Quiz 6Money Quiz 7Money Quiz 8Money Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books