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- 1. Multiple Choice
Which is not a function of money?
store of value
unit of value
standard of deferred payment
medium of exchange
- 2. Multiple Choice
Which of the following is not a feature of money?
portability
uniformity
divisibility
suitability
- 3. Multiple Choice
What is the definition of broad money?
notes and coins, all chequing accounts and travellers’ cheques
notes and coins plus savings deposits and money market accounts
M1 plus money market accounts only
M1 plus savings deposits and money market accounts
- 4. Multiple Choice
What is the role of the financial sector in the economy?
It attracts funds from lenders which it loans to firms, private individuals and the government.
It issues notes and coins for circulation.
It obtains foreign loans for the government
It lends money to individuals free of interest
- 5. Multiple Choice
Which of the following is part of the informal sector?
a credit union
an insurance company
a building society
a phone card vendor
- 6. Multiple Choice
Which of the following is a function of the central bank?
It accepts deposits
It is banker for the government.
It makes loans to individuals.
It issues foreign currency
- 7. Multiple Choice
Which of the following is a function of a commercial bank?
It issues notes and coins.
It sells insurance policies
It manages the country’s foreign exchange reserves
It makes loans to firms and individuals
- 8. Multiple Choice
How is a commercial bank different from a credit union?
Commercial banks charge a lower rate of interest than credit unions.
A commercial bank is owned by its depositors.
A credit union is owned by its members.
Unlike commercial banks, credit unions do not give loans.
- 9. Multiple Choice
Which is not a financial institution in Jamaica?
National Commercial Bank
Jamaica Money Market Broker
Jamaica National Building Society
The Federal Reserve
- 10. Open Ended
What is the ‘informal sector’ of the economy?
- 11. Open Ended
Give five examples of professions in the informal sector.
- 12. Multiple Choice
What is money?
notes and coins
cheques and debit cards
anything that is acceptable as a means of settling debts
anything the seller pays to settle a debt
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