As the saying goes, money makes the world go round. Below, I have written 111 money trivia questions and answers. These questions cover money and money related topics like economics, finance, accounting and more. If you’re anything like me, you will find the topic of money trivia fascinating.
Money has many interrelated subjects, so understanding the various facets of it can be quite enjoyable. If you enjoy the idea of money, how it works, where it came from in its current form, and how it will evolve in the future, these 111 money trivia questions and answers will provide you with a nice chunk of entertainment and learning for your time. You will find plenty of enjoyment in testing yourself on the topic; it is so interesting. Have fun!
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| 111 Money Trivia Questions & Answers 1.1 Play 111 Money Trivia Questions Quiz 1.2 Read 111 Money Trivia Questions & Answers Money Trivia Questions & Answers by Category 1.3 Accounting Money Trivia Questions & Answers 1.4 Currency Terms Money Trivia Questions & Answers 1.5 Economics Money Trivia Questions & Answers 1.6 Finance Money Trivia Questions & Answers 1.7 Fun Facts About Money Trivia Questions & Answers 1.8 Loans Money Trivia Questions & Answers Related Content 1.9 Play Math Trivia 2.0 Play Political Trivia 2.1 Play Sports Trivia 2.2 Play Computer & Technology Trivia 2.3 Play Random Trivia |
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Read 111 Money Trivia Questions & Answers
The following 111 money trivia questions cover every significant topic on and around money. The categories include currency terms, economics, accounting, finance and more. If you enjoy the topic of money, use these money trivia questions and answers to test yourself and others on these terms and concepts.
Accounting Money Trivia
Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business or organization. It involves tracking and reporting on the flow of money in and out of the organization, as well as the resources and liabilities. Accounting is also used to create financial statements, which are used to make informed business decisions. Additionally, accounting is used to assess the financial performance of the organization, and to generate financial reports for tax, regulatory, and other purposes.
If you are interested in accounting, read on for accounting money trivia questions and answers.
Accounting Money Trivia Questions & Answers
1. In accounting, what is the term for the measure of the ability of a debtor to pay their debts as and when they fall due, typically expressed as a ratio or a percentage of current liabilities?
Liquidity
2. What is name of what is either a government department related to finance and taxation, or a place or location where treasure, such as currency or precious items are kept?
A Treasury
3. What is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations, that measures the results of an organization’s economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators called?
Accounting or Accountancy
4. What is the term for a compulsory finance charge or levy imposed on an individual or legal entity by a government related organization used to fund government spending on a variety of public expenditures?
A Tax
5. What is an outflow of money, or any form of fortune in general, to another person or group to pay for an item or service, or for a category of costs called?
An Expense or Expenditure
6. What is the state of being unable to pay the debts, by a person or company at maturity called?
Insolvency
7. What is term for a type of bank account maintained by a financial institution in which a customer can deposit and withdraw money?
A Deposit Account
8. In financial accounting, what is the term for a resource owned or controlled by a business or an economic entity, that can be utilized to produce positive economic value, represents value of ownership, and can be converted into cash?
An Asset
9. What the name of the document that orders a bank to pay a specific amount of money from a person’s account to the person in whose name the document has been issued to?
A Check or Cheque
10. What is the process in accounting by which a company is brought to an end, and the assets and property of the company are redistributed?
Liquidation
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Currency Terms Money Trivia
Currency is a medium of exchange used to facilitate the exchange of goods and services. The term “currency” encompasses many forms, and the associated verbal terms. It is usually issued by a government and accepted as a legal tender. Currencies usually take the form of paper notes and coins, but can also take the form of digital tokens or electronic money. The value of a currency is determined by the demand for it, the supply of it, and the stability of the country it is issued in.
For currency terms trivia, please continue reading for currency terms money trivia questions and answers.
Currency Terms Money Trivia Questions & Answers
11. What is the mixture of metals that is typically used when making a coin called?
An Alloy
12. What is the name of the monetary system in which the standard economic unit of account is based on a fixed quantity of gold?
A Gold Standard
13. What is the monetary standard in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, typically gold and silver, creating a fixed rate of exchange between them?
Bimetallism
14. Which U.S. president was on the no longer circulated U.S $500 bill with the green seal?
William McKinley
15. According to the Ancient Greek historian Herodotus, which people were the first to introduce coins made of gold and silver?
The Lydians
16. What were the first issue of paper money by the United States that achieved wide circulation called?
Demand Notes
17. What was the first country in Europe to use paper money?
Sweden
18. What type of coins are made from precious metals, typically minted in weights that are fractions of one troy ounce, and are most commonly made from gold and silver?
Bullion Coins
19. What type of digital asset is designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of computerized database, using a strong mathematical and computational practice of encoding and decoding data to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership?
A Cryptocurrency
20. What was the name of the traditional shell bead of the Eastern Woodlands Native American tribes, which were used as a currency and means of exchange between the Colonists and Native Americans?
Wampum
21. What is the study or collection of currency, including coins, tokens, paper money and related objects called?
Numismatics
22. What is the type of negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand in the form of what we know to be, “paper money” called?
A Banknote
23. What is the type of money created by private banks through the recording of loans as deposits of borrowing clients, with partial support indicated by the cash ratio, currently created as electronic money?
Bank Money
24. What is the cash created by a Central Bank by minting coins and printing banknotes called?
Legal Tender
25. What is the primary producer of a country’s coin currency, that has the consent of the government to manufacture coins to be used as legal tender called?
A Mint
26. What is the term for the use of a foreign currency in parallel to or instead of the domestic currency?
Currency Substitution
27. What kind of money is a very high quality counterfeit United States one hundred-dollar bill, alleged by the U.S. Government to have been made by unknown organizations or governments, and is in worldwide circulation?
A Superdollar, Superbill or Supernote
28. What type of money is any medium of exchange, often printed on paper, that represents something of value, but has little or no value of its own, but has something of intrinsic value supporting the face value of the money?
Representative Money
29. What is a small flat government issued, typically round piece of metal or plastic, used mostly as a medium of exchange or legal tender, standardized in weight, and produced in large quantities at a mint in order to facilitate trade called?
A Coin
30. What is the name for the type of United States paper money that was issued between August 1861 and April 1862 during the American Civil War in denominations of 5, 10, and 20 US$?
Demand Notes or Green Backs
31. What is the term for the type of money that is an established medium of exchange, often by government regulation, which lacks intrinsic value and does not have inherent use value, but value due to a government maintaining its value?
Fiat Money
32. What is the term for money in any form, when in use or circulation as a medium of exchange, especially circulating banknotes and coins?
Currency
33. What is the term for a legal relationship in which the legal title to property is entrusted to a person or legal entity with a fiduciary duty to hold and use it for another’s benefit?
A Trust
34. What is the term for a counterfeit coin, that is made from a base metal core that has been plated with a precious metal to look like its solid metal counterpart?
A Fourrée
35. What type of currency, money, or money-like asset is primarily managed, stored or exchanged on electronic computer systems, especially over the internet?
Digital Currency
36. What type of money is money whose value comes from having value or use in themselves, as well as their value in buying goods?
Commodity Money
37. What type of money is currency produced without the legal sanction of the State or government, usually in a deliberate attempt to imitate that currency and so as to deceive its recipient called?
Counterfeit Money
38. What is the value of a coin, stamp or paper money as printed on the coin, stamp or bill itself by the issuing authority called?
The Face Value or Nominal Value
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Economics Money Trivia
Economics is the study of how people interact with scarce resources to satisfy their unlimited wants and needs. It examines how individuals and societies decide to allocate resources in order to produce and distribute goods and services. It also looks at how the decisions of individuals, businesses, and governments affect the overall performance of the economy. Economics is broken down into two main branches: microeconomics and macroeconomics.
For trivia questions on economics, continue reading for economics money trivia questions and answers.
Economics Money Trivia Questions & Answers
39. In economics, what is the term for the monetary principle stating that “bad money drives out good”?
Gresham’s Law
40. What is the term for the central bank regulation that sets the minimum amount of reserves that must be held by a commercial bank?
Reserve Requirement or Cash Reserve Ratio
41. What is a monetary measure of the market value of all the final goods and services produced in a specific time period called?
Gross Domestic Product or GDP
42. What is the term in economics, which is the very high and typically accelerating inflation that quickly erodes the real value of the local currency, as the prices of all goods increase?
Hyperinflation
43. What is the name of the economic system in which the prices for goods and services are self-regulated by buyers and sellers negotiating in an open market?
A Free Market
44. What is the name of the committee within the U.S. Federal Reserve System, which oversees the nation’s open market operations, making key decisions about interest rates and the growth of the United States money supply?
The Federal Open Market Committee or FOMC
45. What is the name of the government guaranteed institution in a financial system that acts as the provider of liquidity to a financial institution, which may find itself unable to obtain sufficient liquidity in the interbank lending market and other facilities or sources have been exhausted?
A Lender of Last Resort or LOLR
46. What type of institution manages the currency and monetary policy of a state or formal monetary union, oversees their commercial banking system, possesses a monopoly on increasing the monetary base, and most importantly, has supervisory and regulatory powers to ensure the stability of member institutions?
A Central Bank or Reserve Bank
47. In macroeconomics, what kind of debt is debt which is used to fund consumption rather than investment?
Consumer Debt
48. In monetary economics, what is the term for the closely related ratio of commercial bank money to central bank money under a fractional-reserve banking system, where the total amount of loans that commercial banks are allowed to extend is equal to a multiple of the amount of reserves, and sets a maximum amount of commercial bank money that can be created?
A Money Multiplier
49. What is the school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation, that asserts that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy?
Monetarism
50. What type of funds are held in demand accounts in commercial banks, where the account balances are usually considered money and form the greater part of the narrowly defined money supply of a country, and can be withdrawn on demand, without any prior notice?
Demand Deposits or Non-confidential Money
51. What is the macroeconomic term for the total value of money available in an economy at a point of time?
Money Supply or Money Stock
52. In economics, what is the term for the business cycle contraction when there is a general decline in economic activity and there is a widespread drop in spending?
A Recession
53. What is the name of the most common form of banking practiced by commercial banks worldwide, which involves banks accepting deposits from customers and making loans to borrowers while holding in reserve an amount equal to a smaller portion of the bank’s deposit liabilities?
Fractional-reserve Banking
54. What is a general rise in the price level in an economy over a period of time, where each unit of currency buys fewer goods and services called?
Inflation
55. In economics, what is the concept that refers to the total satisfaction received from consuming a good or service?
Utility
56. What is the process by which a government, central bank, or monetary authority manages the money supply to achieve specific goals, usually to accommodate economic growth in an environment of stable prices?
Monetary Policy
57. Which is the system by which a government provides money in a country’s economy and usually consists of the national treasury, the mint, the central banks and commercial banks?
A Monetary System
58. What is the term in economics that is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high?
Stagflation
59. What is the term for what is occurring, when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future?
A Bank Run
60. In economics, what is the difference between the revenue a business has received from its outputs and the opportunity costs of its inputs called?
A Profit
61. In business, economics or investment, what is a market’s feature whereby an individual or firm can quickly purchase or sell an asset without causing a drastic change in the asset’s price called?
Market Liquidity
62. In contrast to investing, what kind of spending is used for the acquisition of utility?
Consumption
63. In economics, what is the decrease in the general price level of goods and services that occurs when the inflation rate falls below 0% called?
Deflation
64. What is the process by which the money supply of a country, or of an economic or monetary region, is increased called?
Money Creation or Money Issuance
65. What is the economic model of price determination in a market, where the unit price for a particular good, or other traded item, will vary until it settles at a point where the quantity requested at the current price, will equal the quantity provided, resulting in an economic equilibrium for price and quantity transacted?
Supply and Demand
66. What is the term in economics, for a measure of the amount of money, or money supply, in a national economy including both highly liquid “narrow money” and less liquid forms?
Broad Money
67. What is term for the total amount of bank notes and coins in a country, which includes the total currency circulating in the public, plus the currency that is physically held in the vaults of commercial banks, as-well-as the commercial banks’ reserves held in the central bank?
The Monetary Base
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Finance Money Trivia
Finance is the study of managing money. It involves managing and investing funds, as well as understanding the markets, taxes, and laws that govern financial decisions. It also involves understanding the different types of investments, such as stocks, bonds, mutual funds, and other financial instruments. In addition, finance involves understanding how to estimate the future value of investments and how to manage risks associated with investments.
For finance trivia facts, read on for finance money trivia questions and answers.
Finance Money Trivia Questions & Answers
68. What is the legal financing and debt instrument, in which the issuing party promises in writing to pay a determinate sum of money to the payee party, at either a fixed or determinable future time or on demand of the payee, under specific terms called?
A Promissory Note
69. What is the term of finance and economics, which is the entity that manages a country’s currency and money supply, often with the objective of controlling inflation, interest rates, real GDP or unemployment rate?
A Monetary Authority
70. What is the term for a non-physical asset whose value is derived from a contractual claim, such as bank deposits or bonds, and are usually more liquid than other tangible assets, such as commodities or real estate?
A Financial Asset
71. What is the legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts called?
Bankruptcy
72. What is the financial term, which is the cost at which one national currency will be traded for another?
An Exchange Rate
73. In finance, what type of debt is a general obligation that is not protected by a guarantor, or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment called?
Unsecured Debt
74. What is the term for allocating money in the expectation of some benefit or return in the future by owning an asset or an item with the goal of generating income from the investment or the increase in the value of the asset over a period of time?
Invest
75. In financial accounting, what are used to always have a credit balance and can refer to a part of shareholders’ equity, a liability for estimated claims, or contra-asset for uncollectible accounts?
Reserve
76. What is the term for the amount of capital a bank or other financial institution has to have as required by its financial regulator?
A Capital Requirement or Regulatory Capital or Capital Adequacy
77. What is the measurement of a company’s liquidity, specifically the ratio of a company’s total cash and cash equivalents to its current liabilities called?
Cash Ratio
78. What is the term for matters regarding the management, creation, and study of money and investments, specifically dealing with questions around how and why an individual, company or government acquire the money needed and how they spend or invest that money?
Finance
79. What is the financial term for something a person or company owes, usually a sum of money, that is settled over time through the transfer of economic benefits including money, goods, or services?
A Liability
80. What is the term for all of the shares into which ownership of a corporation is divided?
Stock or Capital Stock
81. What is the term for a distribution of profits by a corporation to its shareholders, where when a corporation earns a profit or surplus, it is able to pay a proportion of the profit to shareholders?
A Dividend
82. What is the ownership of assets that may have debts or other liabilities attached to them called?
Equity
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Fun Facts About Money Trivia
Money is a pretty interesting topic. When you break it down in simple terms, money is any form of currency or commodity used to purchase goods or services. Beyond its simple concept, money encompasses many forms and has certainly evolved over time, whether it be through government intervention, the evolution of banking, regulations, and even forms. So while money is simple by definition, is actually quite the complex topic with a long standing history behind it.
If you are interested in money fun facts, keep reading for fun facts about money trivia questions and answers.
Fun Facts About Money Trivia Questions & Answers
83. Which U.S. president was on the no longer printed $100,000 Gold Certificate?
Woodrow Wilson
84. Which U.S. law created the central banking system of the United States?
The Federal Reserve Act
85. Which act created a decimal currency by creating the dime, nickel, and penny coins, as well as the dollar, half dollar, and quarter dollar coins, all of which are presently still minted?
The Coinage Act of 1792
86. Which U.S. secretary of the treasury was on the no longer circulated $1,000 bill with the blue seal?
Alexander Hamilton
87. What is the name of the event, which was the gathering of 730 delegates from all 44 Allied nations at the Mount Washington Hotel in New Hampshire, United States, to regulate the international monetary and financial order after the conclusion of World War II?
The Bretton Woods Conference
88. What is the name of the central banking system of the United States?
The Federal Reserve System
89. Which U.S. president was on the no longer circulated $1,000 bill with the green seal?
Grover Cleveland
90. In 1661, what was the name of the first bank in Europe to issue banknotes?
The Stockholms Banco
91. What was the name of the U.S. chief justice that was on the face of the no longer circulated $500 note with the blue seal?
John Marshall
92. Which U.S. secretary of the treasury was on both of the no longer circulated $10,000 bills with the blue, and the green seals?
Salmon P. Chase
93. What was the largest note ever printed by the U.S. Bureau of Engraving and Printing?
The $100,000 Gold Certificate
94. Which U.S. president was on the no longer circulated $5,000 bill with the blue seal?
James Madison
95. Which dynasty of China were the first to use paper money, known as “jiaozi”?
The Song Dynasty
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Loans Money Trivia
Loans are sums of money borrowed by an individual, business, or other entity from a financial institution such as a bank or credit union. Loans are typically secured by collateral and are used to finance large purchases, consolidate debt, pay for unexpected expenses, or fund a business venture. They are in essence, the core of banking and economics.
If you are interested in facts on monetary loans, read on for loans money trivia questions and answers.
Loans Money Trivia Questions & Answers
96. What is the name of the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately, thereby generating a debt, but promises either to repay or return those resources at a later date?
Credit
97. What is the form of security interest granted over an item of property to secure the payment of a debt or performance of some other obligation called?
A Lien
98. What is the amount of money originally invested or loaned, on which basis interest and returns are calculated called?
Principal
99. What is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum at a particular rate called?
Interest
100. What does the acronym APR stand for?
Annual Percentage Rate
101. What is the instrument of indebtedness which is a type of debt security, under with it the issuer holds a debt, functioning in the form of a type of loan, where the borrower uses the funds to finance investments or expenditures, and interest is usually paId out on fixed intervals, known as a coupon payment?
A Bond
102. What is a legal entity or person, that owes a debt to another entity, and may also be referred to as the borrower in specific scenarios?
A Debtor or Debitor
103. What is the name of the party that has a claim on the services of a second party and is owed money, property, or service by the borrower?
A Creditor or Lender
104. What is the term in finance, for the lending of money by one or more individuals, organizations, or other entities to other individuals, and the recipient incurs a debt on the principal amount borrowed, usually with interest?
A Loan
105. What type of loan is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged called?
A Mortgage Loan
106. What is the term for what occurs when the debtor has not met its legal obligations according to the debt contract such as not making the scheduled payments, or has violated a covenant in the debt contract?
Default
107. What kind of loan is a short term unsecured loan, typically with a high interest rate, where the borrower will write a posted dated check to the lender on their upcoming employment earnings, and receive a piece of that expected income from the lender in advance?
A Payday Loan
108. What is the legal term for unethical monetary loans, where the interest rate is charged in excess of the maximum rate that is allowed by law?
Usury
109. In a lending agreement, what is a borrower’s pledge of specific property to a lender, to secure repayment of a loan, and serves as a lender’s protection against a borrower’s default, so that it can be used to offset the loan if the borrower fails to pay the principal and interest satisfactorily under the terms of the lending agreement called?
Collateral
110. When a legal entity or person owes a debt where the bank is the creditor, what is the term for the debtor in this scenario?
A Borrower
111. What is the obligation that requires one party to pay money or any other agreed upon value to another party, who has issued credit on behalf of the initial party, and where payment or a series of payments are deferred to the creditor?
Debt
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