Money and Banking Test

Result

Money and Banking Test - 2

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Weekly Quiz Competition

Question 1
1 / -0

Money overcomes the problems of barter system.

A
Seldom

B
0

C
Can’t say

D
1

Solution

The most crucial limitation of barter system is double coincidence of wants. Use of money eliminates this limitation and many others.
Question 2
1 / -0

Central Bank is an

A
Regional bank

B
Commercial bank

C
Rural bank

D
Apex bank

Solution

It is the highest banking authority in an economy. Therefore, it is also known as apex body in banking sector.
Question 3
1 / -0

The narrow definition of money is based on

A
Medium of payment function

B
Store of value function

C
Transferability of money

D
Can't say

Solution

Narrow money is most liquid.
Question 4
1 / -0

Legal reserve ratio is equal to

A
CRR+SLR

B
CRR÷SLR

C
SLR-CRR

D
CRR-SLR

Solution

As per the definition of LRR.
Question 5
1 / -0

Which role of Central Bank makes it as the controller of money supply or credit

A
Issuing coins

B
Issuing only Rs.1000 denomination notes

C
Issuing currency

D
Issuing only Rs.100 denomination notes

Solution

When central bank is the sole authority to print currency, it can easily maintain money supply.
Question 6
1 / -0

Lending rate is for

A
Public by the commercial banks

B
Commercial banks by the government

C
Central bank by the commercial banks

D
Central banks by the central bank

Solution

Public borrowers from commercial banks and not from central bank.
Question 7
1 / -0

The lender of last resort is not a function of

A
Central bank

B
Post office

C
Commercial bank

D
Rural bank

Solution

It itself lends from central bank and thus has not such bulk supply of money.
Question 8
1 / -0

Which one of the following is not a primary functions of money

A
Medium of exchange

B
Measure of value

C
Store of value

D
Can't say

Solution

If money is not stored, it will still be called money.
Question 9
1 / -0

The broad definition of money is based on

A
Store of value function

B
Transferability of money

C
Medium of payment function

D
Can't say

Solution

Broad money is less liquid. So ,based on store of value function.
Question 10
1 / -0

Money is something that is

A
Regionally accepted

B
Accepted by banks

C
Locally accepted

D
Universally accepted

Solution

Money is widely accepted as a medium of exchange. It can be used to buy a commodity.

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Re-Attempt Weekly Quiz Competition

Money and Banking Test - 2

Result

Money and Banking Test - 2

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Rank

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SHARING IS CARING

Question 1

Seldom

0

Can’t say

1

Solution

Question 2

Regional bank

Commercial bank

Rural bank

Apex bank

Solution

Question 3

Medium of payment function

Store of value function

Transferability of money

Can't say

Solution

Question 4

CRR+SLR

CRR÷SLR

SLR-CRR

CRR-SLR

Solution

Question 5

Issuing coins

Issuing only Rs.1000 denomination notes

Issuing currency

Issuing only Rs.100 denomination notes

Solution

Question 6

Public by the commercial banks

Commercial banks by the government

Central bank by the commercial banks

Central banks by the central bank

Solution

Question 7

Central bank

Post office

Commercial bank

Rural bank

Solution

Question 8

Medium of exchange

Measure of value

Store of value

Can't say

Solution

Question 9

Store of value function

Transferability of money

Medium of payment function

Can't say

Solution

Question 10

Regionally accepted

Accepted by banks

Locally accepted

Universally accepted

Solution

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