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Unit 4: Debit and Credit Test Review

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6th - 8th Grade

Used 6+ times

Unit 4: Debit and Credit Test Review
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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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