Banking Unit Review 18

Banking Unit Review 18

9th - 12th Grade

33 Qs

quiz-placeholder

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Banking Unit Review 18

Banking Unit Review 18

Assessment

Quiz

Other

9th - 12th Grade

Practice Problem

Medium

Used 8+ times

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33 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which financial product typically pays the highest rate of interest?

Savings account
Certificate of deposit
Money market account
Common stock

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Safe-deposit boxes are:

A free benefit for accounts with deposits starting at $50,000
Safe and can be accessed only by the owner of the box
Available at all banks
Convenient and accessible at any hour of the day or evening

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Fed” is short for

The Federal Reserve System
Congress
FBI
The Federal Deposit Insurance Corporation

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The best reason for depositing money in a bank or credit union savings account instead of keeping your money “under the mattress” is that:

Money deposited in savings accounts are F.D.I.C. insured.
Most savings accounts earn a guaranteed rate of interest.
Most savings accounts come with a free credit card.
Money in a savings account can be accessed any time during day or night.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the

Federal Reserve Board.
State Banking Commission.
Federal Deposit Insurance Corporation (FDIC)
U. S. Treasury Department.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The financial institution where Ms. Sanchez has her checking account will continue to pay out money for the checks she writes as long as:

She uses checks from her checkbook
The financial institution has sufficient funds
There is enough money in Ms. Sanchez’s account to cover the amount of the checks
She maintains a good record of deposits and handles her account responsibly

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial services and products generally offered by banks and credit unions include:

Real estate listings
Legal services
Savings and loans
Business plan

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