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Question 1 of 10
1. Question
When do the roots of banking-like activities go back to?
Correct
The passage states that some of the earliest banking-like activities began as far back as the 4th millennium BCE.
Incorrect
The passage states that some of the earliest banking-like activities began as far back as the 4th millennium BCE.
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The passage states that some of the earliest banking-like activities began as far back as the 4th millennium BCE.
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Question 2 of 10
2. Question
Where did modern banking practices begin taking shape?
Correct
Modern banking practices began taking shape in medieval and early Renaissance Italy.
Incorrect
Modern banking practices began taking shape in medieval and early Renaissance Italy.
Unattempted
Modern banking practices began taking shape in medieval and early Renaissance Italy.
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Question 3 of 10
3. Question
Which of the following was one of the wealthy northern Italian cities associated with the development of modern banking?
Correct
Florence, Siena, Venice, and Genoa are identified as important northern Italian cities.
Incorrect
Florence, Siena, Venice, and Genoa are identified as important northern Italian cities.
Unattempted
Florence, Siena, Venice, and Genoa are identified as important northern Italian cities.
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Question 4 of 10
4. Question
Who founded the Medici Bank in 1397?
Correct
The passage states that Giovanni di Bicci de’ Medici founded the Medici Bank in 1397.
Incorrect
The passage states that Giovanni di Bicci de’ Medici founded the Medici Bank in 1397.
Unattempted
The passage states that Giovanni di Bicci de’ Medici founded the Medici Bank in 1397.
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Question 5 of 10
5. Question
In which year was the Banco di San Giorgio established in Genoa?
Correct
Genoa established the Banco di San Giorgio in 1407.
Incorrect
Genoa established the Banco di San Giorgio in 1407.
Unattempted
Genoa established the Banco di San Giorgio in 1407.
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Question 6 of 10
6. Question
What did London goldsmiths initially provide to merchants?
Correct
Goldsmiths with private vaults provided storage for merchants‘ gold and issued receipts as proof of deposit.
Incorrect
Goldsmiths with private vaults provided storage for merchants‘ gold and issued receipts as proof of deposit.
Unattempted
Goldsmiths with private vaults provided storage for merchants‘ gold and issued receipts as proof of deposit.
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Question 7 of 10
7. Question
Why was the goldsmith system described as fractional-reserve banking?
Correct
Goldsmiths kept only a small portion of deposited gold on hand while lending the rest.
Incorrect
Goldsmiths kept only a small portion of deposited gold on hand while lending the rest.
Unattempted
Goldsmiths kept only a small portion of deposited gold on hand while lending the rest.
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Question 8 of 10
8. Question
What did goldsmiths‘ promissory notes eventually evolve into?
Correct
The passage states that these promissory notes eventually evolved into early forms of banknotes.
Incorrect
The passage states that these promissory notes eventually evolved into early forms of banknotes.
Unattempted
The passage states that these promissory notes eventually evolved into early forms of banknotes.
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Question 9 of 10
9. Question
Which bank created the first overdraft facility in 1728 according to the passage?
Correct
The Royal Bank of Scotland created the first overdraft facility in 1728.
Incorrect
The Royal Bank of Scotland created the first overdraft facility in 1728.
Unattempted
The Royal Bank of Scotland created the first overdraft facility in 1728.
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Question 10 of 10
10. Question
What major transaction did the Rothschild family help the British government carry out in 1875?
Correct
The passage states that the Rothschild family helped the British government purchase shares in the Suez Canal in 1875.
Incorrect
The passage states that the Rothschild family helped the British government purchase shares in the Suez Canal in 1875.
Unattempted
The passage states that the Rothschild family helped the British government purchase shares in the Suez Canal in 1875.