
Unit 4: Debit and Credit Test Review
Quiz
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Other
•
6th - 8th Grade
•
Medium
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of a financial institution is
Walmart
A school
Chase bank
A hospital
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who uses financial institutions?
Adults
College graduates
Everyone who maintains a savings or checking account
Account holders with lots of cash
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: A debit card allows for an immediate electronic transfer of money from a cardholder's savings or checking account.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: A debit card is useful during an emergency when you don't have the money you need to spend in your checking account.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Lenders use reporting agencies to determine
An applicant's credit score
An applicant's credit history
Whether an applicant has outstanding debts or defaults
All of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When lenders lend money to borrowers, they charge an additional fee for the use of their money. This fee is called:
Debit
Stock
Interest
Credit
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an important safety tip when banking online?
Never share your username and password with anybody
Always use computers in public areas
Never check your bank account online
Always store your important passwords on your mobile device
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