Money and Banking Test

Result

Money and Banking Test - 3

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Weekly Quiz Competition

Question 1
1 / -0

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

A
Medium of exchange

B
Store of value

C
Standard of deferred payments

D
Can't say

Solution

Medium of exchange is a primary function of money.
Question 2
1 / -0

Which one of the following is not a secondary function of money

A
Store of value

B
Measure of value

C
Standard of deferred payments

D
Can't say

Solution

Measure of value is a primary function of money.
Question 3
1 / -0

The functions of money is that it is a

A
Store of stocks

B
Store of currency

C
Store of value

D
None of the above

Solution

Person can store money for future consumption.
Question 4
1 / -0

Bank rate is for

A
Central banks by the central bank

B
Central bank by the commercial banks

C
Commercial banks by the government

D
Commercial banks by the central bank

Solution

Central bank is a wholesaler of money and commercial bank is its retailer
Question 5
1 / -0

One of the various quantitative instruments used by the central bank in during inflation is

A
Raise CRR

B
Remove CRR

C
Reduce CRR

D
Fix CRR

Solution

Raising CRR leads to deficient aggregate demand.
Question 6
1 / -0

One of the various quantitative instruments used by the central bank in during deflation is

A
Raise CRR

B
Reduce CRR

C
Remove CRR

D
Fix CRR

Solution

Reducing CRR leads to excess demand.
Question 7
1 / -0

One drawback of barter exchange is

A
Lack of trust

B
Lack of goods

C
Lack of coincidence of wants

D
Lack of double coincidence of wants

Solution

The functioning of the barter system requires a double coincidence of wants on the part of those who want to exchange goods or services. It is necessary for a person who wishes to trade his good or service to find some other person who is not only willing to buy his good or service, but also possesses that good which the former wants.
The existence of such a double coincidence of wants is a remote probability. For, it is a very laborious and time-consuming process to find out person who want each other’s goods.
Question 8
1 / -0

Open market operations is done by

A
Rural bank

B
Commercial banks

C
Central bank

D
World bank

Solution

Central bank is the only bank which can maintain stablity in monetary sector.
Question 9
1 / -0

Open market operations is

A
Buying and selling of foreign exchange by the central bank

B
Buying and selling of currency by the central bank

C
Buying and selling of securities by the commercial banks

D
Buying and selling of securities by the central bank

Solution

Doing so is the responsibility of central banks to control credit in the economy .
Question 10
1 / -0

The lender of last resort is a function of

A
Rural bank

B
Commercial bank

C
Post office

D
Central bank

Solution

Central bank is the wholesaler of all commercial banks.

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Re-Attempt Weekly Quiz Competition

Money and Banking Test - 3

Result

Money and Banking Test - 3

Score

-

Rank

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SHARING IS CARING

Question 1

Medium of exchange

Store of value

Standard of deferred payments

Can't say

Solution

Question 2

Store of value

Measure of value

Standard of deferred payments

Can't say

Solution

Question 3

Store of stocks

Store of currency

Store of value

None of the above

Solution

Question 4

Central banks by the central bank

Central bank by the commercial banks

Commercial banks by the government

Commercial banks by the central bank

Solution

Question 5

Raise CRR

Remove CRR

Reduce CRR

Fix CRR

Solution

Question 6

Raise CRR

Reduce CRR

Remove CRR

Fix CRR

Solution

Question 7

Lack of trust

Lack of goods

Lack of coincidence of wants

Lack of double coincidence of wants

Solution

Question 8

Rural bank

Commercial banks

Central bank

World bank

Solution

Question 9

Buying and selling of foreign exchange by the central bank

Buying and selling of currency by the central bank

Buying and selling of securities by the commercial banks

Buying and selling of securities by the central bank

Solution

Question 10

Rural bank

Commercial bank

Post office

Central bank

Solution

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Question Analysis

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Rank

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