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ACCA Professional — free MCQ practice

Choose from 27 questions across 1 subjects and 6 topics. Open any question for its answer and worked solution, or keep learning through bite-sized lessons and reviews with Quill.

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ACCA Professional subjects

Banking (27)

Explore popular topics

BankingBanking CertificationEconomicsFinanceMoney and BankingMoney and Financial Institutions

Try a ACCA Professional question

A shopper hands over notes rather than swapping goods directly. Money is working here as a:Read the answer and worked solution →A saver keeps cash for months and expects it still to buy something later. Money is serving as a:Read the answer and worked solution →Prices in a shop are all quoted in the same currency, letting buyers compare them. Money is acting as a:Read the answer and worked solution →A loan lets someone buy today and pay later. That function of money is the standard of:Read the answer and worked solution →

Worked practice questions

A shopper hands over notes rather than swapping goods directly. Money is working here as a:

  1. Medium of exchange
  2. Method of taxation
  3. Measure of weight
  4. Mark of ownership
Show answer and solution

Correct answer: A. Medium of exchange

1. It sits between buyer and seller. 2. No goods are swapped directly. 3. It is a medium of exchange. _Source: OpenStax Principles of Economics 3e, Chapter 27, Money and Banking._

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A saver keeps cash for months and expects it still to buy something later. Money is serving as a:

  1. Store of grain
  2. Store of value
  3. Stock of goods
  4. Stack of paper
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Correct answer: B. Store of value

1. Value must survive the wait. 2. That is one of money's functions. 3. It is a store of value. _Source: OpenStax Principles of Economics 3e, Chapter 27, Money and Banking._

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Prices in a shop are all quoted in the same currency, letting buyers compare them. Money is acting as a:

  1. Unit of account
  2. Unit of energy
  3. Unit of weight
  4. Unit of length
Show answer and solution

Correct answer: A. Unit of account

1. It is the ruler for measuring value. 2. Comparison is what it enables. 3. It is a unit of account. _Source: OpenStax Principles of Economics 3e, Chapter 27, Money and Banking._

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How to practise

  1. Choose a ACCA Professional question and try to work out your answer.
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