JA Biztown Banking Understanding Check

JA Biztown Banking Understanding Check

6th - 8th Grade

8 Qs

quiz-placeholder

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JA Biztown Banking Understanding Check

JA Biztown Banking Understanding Check

Assessment

Quiz

Other

6th - 8th Grade

Practice Problem

Medium

Created by

Aaron Flay

Used 135+ times

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8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A __________ is an account that earns interest.

checking account
savings account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A citizen can write a _______which takes money directly from their checking account.

debit card
credit card
interest
check

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When somebody takes out a loan from the bank, they must pay back the amount they borrowed plus _______.

interest
credit
debit
tax

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A card owner has to pay interest when he or she uses their _______ if it is not paid back in a timely manner.

credit card
debit card

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which is true about a debit card?

It is a loan from the bank and requires the owner to pay interest.
It is the same as a credit card.
It electronically makes purchases from a checking account.
It is a written order to pay money from a checking account.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an advantage of using a credit card?

They are convenient.
The owner does not have to pay interest.
You are paying with your own money.
Money comes from your checking account.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A credit card is using the banks money and debit card is using your own money.

True

False

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the three main services a bank provides for people.

Checking Accounts, Savings Accounts, and

Free lollipops

Checking Accounts, Savings Accounts, and Free cash

Checking Accounts, Savings Accounts, and Checks

Checking Accounts, Savings Accounts, and Loans