This quiz works best with JavaScript enabled. Home > Finance > General > Money – Quiz 26 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Quiz 26 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The Masaai measure their wealth in ..... A) Dollars. B) Euros. C) Animals. D) Salt. Show Answer Correct Answer: C) Animals. 2. Suppose Alex owns a bond with a current return of 6 percent. New bonds issued have a 4 percent return. What has happened to the face value of Alex's bond? A) It has increased. B) It has decreased. C) It has stayed the same. D) None of above. Show Answer Correct Answer: A) It has increased. 3. What is the price paid for the use of borrowed money. A) Principal. B) Interest. C) Mortgage. D) Tax. Show Answer Correct Answer: B) Interest. 4. Which part of the Fed is also known as the FOMC? A) Board of Governors. B) Federal Open Market Committee. C) Reserve Banks. D) None of above. Show Answer Correct Answer: B) Federal Open Market Committee. 5. Prices ..... A) Are set by sellers without regard to buyers. B) Reflect the relative scarcity of goods and services. C) Are determined by give and take in the marketplace. D) Both b and c. Show Answer Correct Answer: D) Both b and c. 6. When money prices are used to facilitate comparisons of value, money is said to function as a A) Unit of account. B) Medium of exchange. C) Store of value. D) Payments-system rule. Show Answer Correct Answer: A) Unit of account. 7. A PIN (Personal Identification Number) is required to make a purchase. A) Credit. B) Debit. C) Both. D) None of above. Show Answer Correct Answer: B) Debit. 8. When people hold money, theyare using money to maintain value until theywant to exchange that value for a good or service.A) Measure of ValueB) Store of ValueC) Medium of Exchange A) A. B) B. C) C. D) None of above. Show Answer Correct Answer: B) B. 9. The ease with which assets can be converted into cash A) Liquidity. B) Return. C) Futures. D) Options. Show Answer Correct Answer: A) Liquidity. 10. Fee charged to borrow money A) Inflation. B) Interest. C) Discount rate. D) Reserve requirement. Show Answer Correct Answer: B) Interest. 11. Money that is valuable because the government says it is. A) Fiat. B) Comodity. C) Representative. D) Billz. Show Answer Correct Answer: A) Fiat. 12. The amount you pay to use someone else's money. It is also the amount of money you earn when allowing others to use your money. A) Interest. B) Late Payment Fee. C) Line of Credit. D) Minimum Payment. Show Answer Correct Answer: A) Interest. 13. Which of the following is NOT an example of Fiat money? A) U.S. government announces it will now accept bottle caps as currency. B) Cavemen trade stone tools for cows. C) Dollar bills and coins we currently use. D) Early state bank dollar bills. Show Answer Correct Answer: B) Cavemen trade stone tools for cows. 14. Which of the following refers to the payee's signature on the back of the check? A) Signature card. B) Check register. C) Endorsement. D) Bank statement. Show Answer Correct Answer: C) Endorsement. 15. The central bank of the United States that is responsible for regulating the banking industry, interest rates, and the money supply A) Federal Reserve. B) Checking Account. C) Federal Reserve Note. D) Savings Account. Show Answer Correct Answer: A) Federal Reserve. 16. A person who looks at a company's financial statements and trends in the economy to make decisions illustrates what style of investing? A) Socially responsible investing. B) Fundamental analysis. C) Technical analysis. D) Zero-sum investing. Show Answer Correct Answer: B) Fundamental analysis. 17. The direct exchange of one set of goods or services for another A) Store of Value. B) Currency Exchange. C) Medium of Exchange. D) Barter System. Show Answer Correct Answer: D) Barter System. 18. What is important to know about this chapter? A) Spend all your money. B) Save some money. C) Money grows on trees. D) Burn some money. Show Answer Correct Answer: B) Save some money. 19. Lucie wants to save money. What can she do without? A) Lunch and supper. B) Clothes and shoes that fit. C) Candy and pop. D) A place to live and keep warm. Show Answer Correct Answer: C) Candy and pop. 20. The Rule of 72 is used to find how long an it will take for A) Investments to double. B) Debt to double. C) Interest to increase. D) None of above. Show Answer Correct Answer: A) Investments to double. ← 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