BrainPop - Banking

What might happen if the government did not insure bank deposits?

• Banks would be robbed far more often.

• People would lose their savings if their banks went out of business.

• Banks would have to buy safe with extremely thick metal walls.

• Banks could no longer make loans to their customers.

Tags

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

CCSS.RI.8.3

Which of the following is a true statement about banking?

• Keeping your money at home instead of a banks prevents you from paying the interest fees that banks charge.

• It's generally safer to keep your money in a bank than to keep it at home.

• Most new businesses are forced to start without loans from banks.

• Most banks give their customers interest-free loans.

Compared to a checking account, the rules governing your use of a savings account are generally more:

• Negotiable

• Intuitive

• Restrictive

• Liberal

We will need years to accumulate enough money to move to Norway. He should probably open a:

• Checking account

• Credit card account

• Savings account

• Debit card account

When you borrow money from a bank, where does that money come from?

• The accounts of the bank's customers.

• The bank's own business checking account

• A credit card company

• The federal government

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

How do banks make profits?

• By charging people interest to borrow money.

• By charging people interest to keep their money there.

• By charging a fee every time a customer writes a check or uses a debit card.

• None of the above - banks are nonprofit institutions

Banks generally pay a higher interest rate on savings accounts than on checking accounts. What inference can you draw from this?

• Checking accounts are completely useless

• Banks only lend money that customers have deposited in savings accounts.

• The administrative costs associated with processing checks are really high.

• Banks encourage individuals to keep money in savings account.

Tags

CCSS.RI.11-12.2

CCSS.RI.8.1

CCSS.RI.9-10.1

CCSS.RL.8.1

CCSS.RL.9-10.1

After writing a check for $172, your account is overdrawn by $31. How much money did you have in the account before you wrote the check?

• $203

• $141

• $172

• $131

Tags

CCSS.3.OA.D.8

What is the difference between a credit card and a debit card?

• A debit card is issued by a bank, a credit card is not.

• A debit card can only be used at an ATM, while a credit card can be used to by things at stores or online.

• A debit card takes money directly from your checking account,while using a credit card is a form of borrowing

• Debit card users must pay interest to banks; credit card users collect interest from banks.

Why are banks an essential part of any functioning national economy? Choose the best answer.

• The interest they pay out causes the national economy to grow.

• The money they ban the government allows policemen, firemen, and soldiers to get paid.

• Without banks, the money supply would be extremely limited.

• The loans they provide keep many businesses functioning.