NCERT Class 7 Social Science Chapter 8 Banks and the Magic of Finance Test Mock Test
This free online test covers Chapter 8, Banks and the Magic of Finance, from the NCERT Class 7 Exploring Society India and Beyond Part II textbook. The 30 questions are written directly from the chapter — definitions, processes, worked examples and the points the book italicises — so a score here tells you how much of the chapter actually stuck, not how well you guess. Each answer carries an explanation that says why the right option is right and why the other three fail, which is where most of the learning happens. Attempt it after your first read of the chapter, then again before the exam. There is no negative marking, and you can review the full solution the moment you submit.
Duration
30 mins
Questions
30 MCQs
Total Marks
30 pts
Negative
0 per wrong
Topics Covered in This Paper
Sample Questions
Q1.Financial infrastructure, as the chapter defines it, is:
- AThe currency notes and coins that circulate in a country
- BThe roads, railways and telecommunication networks that support economic activity
- CThe system of barter that existed before money was invented
- DA network of banks, payment systems, stock markets and other financial institutions that help people, businesses and the government manage money and make transactions
Q2.A bank is described in the chapter as a financial institution that:
- ACollects money from people in the form of deposits and lends money to borrowers as loans
- BCollects taxes from individuals and businesses
- CPrints and distributes the currency notes of the country
- DBuys and sells shares on behalf of the government
Q3.In the chapter's illustration, why does Navdeep decide to deposit his monthly savings in a bank rather than keep them at home?
- AThe bank will not allow him to withdraw the money later
- BSaving all that money in his cupboard might not be safe
- CBanks charge him a fee for holding his money
- DHe is required by law to deposit all his salary
Before you begin
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Each correct answer carries +1 marks.
Each wrong answer carries -0 marks.
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Disclaimer: The questions provided here are extracted and digitized from previous year papers using automated processes. They may contain typographical errors, formatting issues, or minor variations from the actual examination paper. While we have done our best to verify the accuracy of the official answer keys, discrepancies may occasionally exist. Please refer to the official commission website for the most authentic paper.
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FAQ
Frequently asked questions
Frequently Asked Questions
- How many questions are in the NCERT Class 7 Social Science Chapter 8 Banks and the Magic of Finance Test mock test?
- This paper has 30 multiple-choice questions carrying 30 marks in total, to be attempted in 30 minutes.
- Is the NCERT Class 7 Social Science Chapter 8 Banks and the Magic of Finance Test mock test free to attempt?
- Yes. You can attempt the full paper online for free on AI Test Planet, and see your score and correct answers immediately after submitting.
- Does this paper have negative marking?
- No, there is no negative marking on this paper, so an attempted guess costs you nothing.
- Are solutions and explanations available?
- Yes. After you submit, every question shows the correct answer with a step-by-step explanation, along with a topic-wise breakdown of your performance.