Econ Unit 4 Test

Econ Unit 4 Test

Assessment

Flashcard

Social Studies

10th Grade

Hard

Created by

Wayground Content

FREE Resource

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22 questions

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1.

FLASHCARD QUESTION

Front

What is the difference between a bank and a credit union?

Back

Banks are for-profit organizations, and credit unions are non-profit organizations.

2.

FLASHCARD QUESTION

Front

What are overdraft fees?

Back

What the bank charges when you withdraw more money from your checking account than what was in it.

3.

FLASHCARD QUESTION

Front

What do you need to open a bank account before you turn 18?

Back

An adult as the co-owner

4.

FLASHCARD QUESTION

Front

What is the purpose of a checking account?

Back

It is money that is meant for daily spending.

5.

FLASHCARD QUESTION

Front

What is the purpose of a savings account?

Back

To save money, but still be able to access it during times of need.

6.

FLASHCARD QUESTION

Front

How much should you be able to put down on a house?

Back

20%

7.

FLASHCARD QUESTION

Front

What do you have to have if you are not able to put down the minimum down payment on a house?

Back

Mortgage Insurance

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