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1. What problem did merchants face in 11th-century Italy that led to the creation of banks?
A
Difficulty in exchanging multiple currencies
B
Lack of security for their goods
C
High taxes on trade
2. Where does the word "bank" originate from?
A
The Italian word for "bench"
B
The Latin word for "currency"
C
The French word for "exchange"
3. What is the primary function of banks in today's economy?
A
Offering loans to governments
B
Managing risks and lending funds
C
Printing currency for circulation
4. What is the major problem with modern banks, according to the transcription?
A
They have abandoned long-term financial products for short-term, high-risk gains
B
They provide loans with excessively high interest rates
C
They charge customers hidden fees for basic services
5. What happened to the global economy in 2008 as a result of banking practices?
A
The stock market crashed and economies collapsed
B
The U.S. government nationalized all banks
C
Credit unions failed to withstand the crisis
6. What were the consequences of the 2008 banking crisis?
A
Millions of people lost their homes and banks flourished
B
Major banks paid billions in fines and lost public trust
C
Global banks became even wealthier due to bailout packages
7. How do credit unions differ from traditional banks?
A
They only serve the wealthiest members
B
They focus on shared value and are democratically controlled
C
They charge higher interest rates to offset risks
8. Why did credit unions survive the 2008 financial crisis better than traditional banks?
A
They were backed by governments
B
They took fewer risks compared to traditional banks
C
They received larger bailout packages
9. What is crowdfunding, as described in the transcription?
A
A way for banks to raise money for new branches
B
A platform for small investors to fund large projects
C
A type of government loan program for startups
10. What is the purpose of microcredits?
A
To provide loans for small business owners in developing countries
B
To invest in the technology sector in developed countries
C
To give large loans to major corporations