Class 10 Social Science: Money and Credit — Chapter Test 1

Class 10 • Social Science • Money and Credit • Chapter Test

MediumFREE

Questions

20 min

Duration

Marks (1 each)

Negative marking

Original practice questions with full solutions by ExamPortal.

Instructions

• Read each question carefully and pick the correct answer.
• You can mark questions for review and come back to them.
• Answers are saved automatically.
• The test is submitted automatically when time runs out.

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SYLLABUS & QUESTION BLUEPRINT

Sample Practice Questions

Preview 5 sample questions from this 15-question test. Test your knowledge below or take the full exam in timed CBT mode.

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Question 1 of 15

Exchanging goods directly without the use of money is called:

banking

barter

credit

trade credit

View Correct Answer & Step-by-Step Solution

Correct Option:(B)barter

Detailed explanation is available inside the official test attempt review.

Question 2 of 15

Barter requires 'double coincidence of wants', which means:

both parties want to keep their goods

what one person wants to sell is exactly what the other wants to buy, and vice versa

two people have the same money

goods are sold twice

View Correct Answer & Step-by-Step Solution

Correct Option:(B)what one person wants to sell is exactly what the other wants to buy, and vice versa

Detailed explanation is available inside the official test attempt review.

Question 3 of 15

In India, currency notes are issued by the:

State Bank of India

Reserve Bank of India

Finance Ministry

Prime Minister

View Correct Answer & Step-by-Step Solution

Correct Option:(B)Reserve Bank of India

Detailed explanation is available inside the official test attempt review.

Question 4 of 15

Deposits in bank accounts that can be withdrawn on demand are called:

fixed deposits

demand deposits

loans

collateral

View Correct Answer & Step-by-Step Solution

Correct Option:(B)demand deposits

Detailed explanation is available inside the official test attempt review.

Question 5 of 15

An asset that a borrower owns and uses as a guarantee to a lender is called:

interest

collateral

principal

credit

View Correct Answer & Step-by-Step Solution

Correct Option:(B)collateral

Detailed explanation is available inside the official test attempt review.

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Frequently asked questions

How many questions are there in Class 10 Social Science: Money and Credit — Chapter Test 1?

There are 15 questions to answer in 20 min. Each correct answer gives 1 mark, for a total of 15 marks.

Is there negative marking?

No. Wrong answers do not lose marks, so attempt every question.

Is this mock test free?

Yes, it is completely free. Just log in with your email to start.

What does this test cover?

It covers the chapter "Money and Credit" of Class 10 Social Science. All questions are original, with a full solution for each.

Will I see my result and the solutions?

Yes. Right after you submit you get your score, accuracy, rank and percentile, and you can review every question with the correct answer and a step-by-step explanation.

Can I take this test again?

Yes, you can retake it as many times as you like and compare your scores.