Money and credit class 10

1.

Multiple Choice

30 sec

5 pts

Which among the following banks issues currency notes on behalf of the Central Government in India?

(a) RBI

(b) State Bank of India

(c) Bank of India

(d) Central Bank of India

2.

Multiple Choice

30 sec

5 pts

An agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment refers to

(a) Debt

(b) Deposit

(c) Credit

(d) Collateral

3.

Multiple Choice

30 sec

5 pts

Which body (authority) supervises the functioning of formal sources of loans?

(a) Finance Ministry

(b) Head Office of each Bank

(c) Reserve Bank

(d) Cooperative Societies

4.

Multiple Choice

30 sec

5 pts

Money-lenders usually demand a ‘security’ from the borrower. What is the formal word used for the ‘security’, such as land, vehicle, livestock, building, etc.?

(a) Deposit

(b) Collateral

(c) Credit

(d) Guarantee

5.

Multiple Choice

30 sec

5 pts

A typical Self Help Group usually has

(a) 100-200 members

(b) 50-100 members

(c) less than 10 members

(d) 15-20 members

6.

Multiple Choice

30 sec

5 pts

Which of the following is not an informal source of credit?

(a) Money-lender

(b) Relatives and Friends

(c) Commercial Banks

(d) Traders

7.

Multiple Choice

30 sec

5 pts

When a person wants to sell exactly what the other person wants to buy. This situation is known as

Barter System

Double coincidence of wants

Trading

None of these

8.

Multiple Choice

30 sec

5 pts

What prevents the poor from getting bank credit?

absence of collateral

documentation procedure

high rate of interest

none of these

9.

Multiple Choice

30 sec

5 pts

What is the main source of income for banks?

Interest on loans

Interest on deposits

Difference between the interest charged on borrowers and depositors

None of these

10.

Multiple Choice

30 sec

5 pts

Goods are directly exchanged without the use of money in this system.

Cooperative system

Bank system

Barter system

Pascal system

11.

Multiple Choice

30 sec

5 pts

No individual in India can legally refuse a payment made in _________.

Rupees

money

deposits

cheque

12.

Multiple Choice

30 sec

5 pts

In India, the ________ of India issues currency notes on behalf of the central government

The Reserve Bank of India

The Federal Bank of India

The Central Bank of India

The World Bank

13.

Multiple Choice

30 sec

5 pts

Who is the founder of Grameen Bank of Bangladesh?

Mohammad Yunus

Mohammad Kasim

Mohammad Tuglaq

Mohammad Zakir

14.

Multiple Choice

30 sec

5 pts

In a SHG most of the decisions regarding loan activities are taken by

Banks

Members

Non-government organisation

Cooperative

15.

Multiple Choice

30 sec

5 pts

Which one of the following is the new way of providing loans to the rural poor?

Co-operative societies

Traders

Relatives and friends

SHG's

16.

Multiple Choice

30 sec

5 pts

Which one of the following is the main source of credit for rich urban households in India?

Formal sector

Informal sector

Money lenders

Traders

17.

Multiple Choice

30 sec

5 pts

What is debt?

Money that is spent

Money that is owed because of borrowing

Money that you lend to others

18.

Multiple Choice

30 sec

5 pts

Deposits in the bank accounts can be withdrawn on demand, therefore these deposits are called

(a) Returnable deposits

(b) Acceptable Deposits

(c) Demand deposits

(d) None of the above

Explore this activity with a free account