Question

Quiz: Understanding the Banking Industry
Standard: MS-BMF-FIF-2

You will be successful in this subject when you can

2.1 Explain the purpose and functions of a bank.

2.2 Differentiate between a central bank (Federal Reserve Bank) and your local bank.

2.2a Create a flow chart that tracks what happens to your money when you put it in a bank using excel.



There are 10 multiple choice questions. Please answer each question to your best ability.

Question at position 1
1

Multiple Choice
1 point



Question at position 1

Why are banks important for the economy?

They print money

They set tax rates

They create jobs

They manage money flow

Answer 1

They manage money flow