Depository Institutions and Income/ Exp. Statements

Depository Institutions and Income/ Exp. Statements

9th - 12th Grade

40 Qs

quiz-placeholder

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Depository Institutions and Income/ Exp. Statements

Depository Institutions and Income/ Exp. Statements

Assessment

Quiz

Business, Life Skills

9th - 12th Grade

Practice Problem

Medium

CCSS
6.NS.C.5, 7.NS.A.1A, 7.NS.A.1C

Standards-aligned

Created by

Melissa Curtsinger

Used 6+ times

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40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a characteristic of a commercial bank?

For-profit
Non-profit
Membership qualifications
Only available online

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is  characteristic of a credit union?

Open to anyone
Membership qualifications
No physical locations
Non-profit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Does location affect your choice of depository institution? 

No
Yes

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Are credit unions insured?

Yes, and only credit unions are insured
Yes, by the NCUA
Only commercial banks are insured
No depository institutions are insured

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is interest?

Price paid for using someone else's money
Percentage of people interested in using banks
How much money the bank pays to keep running
The amount of money the bank has

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an interest rate?

Percentage rate used to calculate interest
Percentage rate of people using the bank
Percentage rate of how much money you've spent
Percentage rate of how much money the bank owns

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is credit?

Borrowed money that you have to pay back with interest
Money you do not need to pay back
Money you've earned for having good credit that isn't paid back
Borrowed money that isn't paid with interest

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