Finance Concepts (Banks2)

Finance Concepts (Banks2)

8th Grade

23 Qs

quiz-placeholder

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Finance Concepts (Banks2)

Finance Concepts (Banks2)

Assessment

Quiz

Computers

8th Grade

Easy

Created by

Karen Heard

Used 14+ times

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23 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A bank is a business.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When people have a savings account, they

earn interest on the money in the savings account.

pay interest to the bank because the bank is storing their money for them in a safe place

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Banks put money to work once it is deposited in accounts. What happens to the money?

All of it is placed in a vault. (In Reserve)

All of it is loaned to people.

Some of it is held in reserve; Much of it is loaned to people.

4.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

Banks loan money to people. Identify examples of loans which are available for consumers at banks.

Home Loans (Mortgages)

Car Loans

Expand a Business

Student Loans for College

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

If savers didn't put their money in banks, what would happen? Choose the realistic answer...

A panic would occur & people would start hiding their life savings somewhere in their home.

Banks would have little or no money to lend.

Banks would open more bank branches in the same area.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When a person borrows money from a bank, the bank will charge the person interest on the amount borrowed.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which type of bank is NOT classified as a thrift institution?

Credit Union

Savings & Loan Associations

Savings Banks

Commercial Banks

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