Which of the following is the most significant difference between commercial banks and credit unions?
Banks & Financial Institutions

Quiz
•
Life Skills
•
12th Grade
•
Medium
Alexandra Heiney
Used 31+ times
FREE Resource
30 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
A) How they pay interest on deposits
B) How they charge interest on loans
C) How they are regulated by the government
D) What types of deposits they accept
2.
MULTIPLE SELECT QUESTION
5 mins • 1 pt
Credit unions, savings banks, and investment companies all serve a similar function.
False
True
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The interest rate that banks charge for loans they make is higher than the interest rate they pay for customers' deposits.
True
False
4.
MULTIPLE SELECT QUESTION
5 mins • 1 pt
Identify all depository institutions bellow:
A commercial bank
An investment company
A credit union
An insurance company
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which of the following is a written order from you to your bank instructing your bank to pay money from your account to another party?
A) A check
B) A deposit slip
C) A certificate of deposit
D) A debit card
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which of the following would be the LEAST secure way to send payment to another person or business through the mail?
A) A personal check
B) A cashier's check
C) A money order
D) Cash
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Which of the following is the main difference between a NOW account and a typical checking account?
A) A NOW account pays a small amount of interest on the money in the account.
B) A typical checking account pays a small amount of interest on the money in the account.
C) A NOW account charges a small amount of interest for the money in the account.
D) A typical checking account charges a small amount of interest for the money in the account.
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