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BBI (Bachelor of Banking & Insurance) — free MCQ practice

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BBI (Bachelor of Banking & Insurance) subjects

Finance (30)

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BankingBanking CertificationEconomicsFinanceMoney and BankingMoney and Financial Institutions

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Money is best defined as anything that is acceptable as payment for goods and:Read the answer and worked solution →Money must be scarce enough to have value but not so scarce as to be:Read the answer and worked solution →Too much money in circulation pushes up prices and causes:Read the answer and worked solution →Fruit and vegetables would fail as money because they lack:Read the answer and worked solution →

Worked practice questions

Money is best defined as anything that is acceptable as payment for goods and:

  1. Services
  2. Salaries
  3. Supplies
  4. Shipments
Show answer and solution

Correct answer: A. Services

1. Money must be taken in exchange by others. 2. It buys both physical things and work done. 3. So it pays for goods and services. _Source: OpenStax Introduction to Business 2e, Chapter 15, Understanding Money and Financial Institutions._

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Money must be scarce enough to have value but not so scarce as to be:

  1. Unbearable
  2. Unavailable
  3. Unbreakable
  4. Uncountable
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Correct answer: B. Unavailable

1. Small rocks would fail as money because they are everywhere. 2. Something too rare cannot circulate at all. 3. So it must not be unavailable. _Source: OpenStax Introduction to Business 2e, Chapter 15, Understanding Money and Financial Institutions._

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Too much money in circulation pushes up prices and causes:

  1. Inflation
  2. Insulation
  3. Innovation
  4. Inspection
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Correct answer: A. Inflation

1. More money chasing the same goods raises prices. 2. That general rise has a name. 3. It is inflation. _Source: OpenStax Introduction to Business 2e, Chapter 15, Understanding Money and Financial Institutions._

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