General Awareness: Banking Awareness Quiz

1. The business dealing with money and credit is

a) banking
b) health care
c) education

The correct answer is a) banking

2. The amount of money a bank charges for the privilege of allowing a person to borrow money or the amount of money the bank pays a person for depositing his money for the bank to invest is called

a) loan
b) mortgage
c) interest

The correct answer is c) interest

3. The money that a person borrows from a bank or other financial institutions is called a

a) interest
b) commercial
c) loan

The correct answer is c) loan

4. The money that a person places in a bank account for the bank to use to invest and that also earns interest is called a

a) loan
b) deposit
c) mortgage

The correct answer is b) deposit

5. A loan to pay for a home, business or other real estate over a period of time is a

a) deposit
b) bankruptcy
c) mortgage

The correct answer is c) mortgage

6. When a person publicly announces they cannot repay their loans it is called

a) deposit
b) bankruptcy
c) mortgage

The correct answer is b) bankruptcy

7. Groups of people such as workers who pool their money together for savings and to make loans is called a

a) labor union
b) credit union
c) state of the union

The correct answer is b) credit union