Here are some MCQs on Overview of Banking Business
1. What is the primary function of a bank?
a) To provide loans
b) To accept deposits
c) To sell insurance
d) To issue credit cards
Answer: b) To accept deposits
2. Which of the following is not a type of bank?
a) Commercial bank
b) Investment bank
c) Central bank
d) Industrial bank
Answer: d) Industrial bank
3. Which of the following is a form of commercial bank?
a) World Bank
b) International Monetary Fund (IMF)
c) Citibank
d) Federal Reserve Bank
Answer: c) Citibank
4. The central bank of the United States is known as:
a) Federal Reserve Bank
b) Bank of America
c) JP Morgan Chase
d) Barclays Bank
Answer: a) Federal Reserve Bank
5. Which of the following is an example of a non-bank financial institution?
a) Stock exchange
b) Credit union
c) Online marketplace lending platform
d) All of the above
Answer: d) All of the above
