Banking (EPF12)

Banking (EPF12)

9th - 12th Grade

11 Qs

quiz-placeholder

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Banking (EPF12)

Banking (EPF12)

Assessment

Quiz

Social Studies

9th - 12th Grade

Hard

Created by

Richard Jr.

Used 3+ times

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of financial institution is member owned

Savings Bank

Commercial Bank

Payday lender

Credit Union

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

FDIC insurance covers up to what dollar amount for depositors?

$100,000

$150,000

$200,000

$250,000

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An internet only bank does not have any ...

ATMs

Physical branches

Checking accounts

Capacity to deposit checks

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This type of business charges a flat fee + a % of the total amount of the check

check cashing business

pawn shop

payday lender

savings and loan

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are benefits of having a checking account EXCEPT:

safety

bill pay

week-long loans

check cashing

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Banks make most of their money between the interest rate given to depositors vs. the interest rate charged on loans. This is called ...

the vig

the spread

the butter

the academy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a bank says that their savings account earns 3% interest, that typically means you will earn 3% interest over what period of time?

Quarterly (every 3 months)

Monthly

Annually

Daily

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