Class 12 Economics: Money and Banking — Chapter Test 1

Class 12 • Economics • Money and Banking • 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

Money is anything that is generally accepted as a:

gift

medium of exchange

commodity only

loan

View Correct Answer & Step-by-Step Solution

Correct Option:(B)medium of exchange

Detailed explanation is available inside the official test attempt review.

Question 2 of 15

The barter system faced the problem of:

too much money

double coincidence of wants

inflation

unemployment

View Correct Answer & Step-by-Step Solution

Correct Option:(B)double coincidence of wants

Detailed explanation is available inside the official test attempt review.

Question 3 of 15

The central bank of India is the:

State Bank of India

Reserve Bank of India

NABARD

SEBI

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

Money supply M1 includes:

currency with the public + demand deposits with banks + other deposits with RBI

only coins

time deposits only

gold reserves

View Correct Answer & Step-by-Step Solution

Correct Option:(A)currency with the public + demand deposits with banks + other deposits with RBI

Detailed explanation is available inside the official test attempt review.

Question 5 of 15

The Cash Reserve Ratio (CRR) is the fraction of deposits banks keep:

with themselves as cash

with the RBI

as gold

as loans

View Correct Answer & Step-by-Step Solution

Correct Option:(B)with the RBI

Detailed explanation is available inside the official test attempt review.

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Frequently asked questions

How many questions are there in Class 12 Economics: Money and Banking — 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 Banking" of Class 12 Economics. 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.