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Banking Products

Authored by Education 10x

Business, Social Studies

4th - 5th Grade

Used 1K+ times

Banking Products
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When I use my debit card, the money is almost immediately taken from my account.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An advantage of having a savings account is that the funds are immediately available when I need them.

true

false

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following best describes a LOAN?

Money borrowed that can be paid back if one feels like it.

Money borrowed

Money borrowed with the expectation of paying it back in a timely manner.

Money gifted to someone with no expectation of payback.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People who hide their money in a safe inside their house will not be able to . . . .

a. buy anything at the store.

b. pay for college.

c. earn interest on their money.

d. give their kids an allowance.

e. both b and c

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False:

When you deposit money in a bank, they keep it safe by locking it up in a secure vault within the bank itself.

TRUE

FALSE

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Why does the bank pay you interest when you deposit money?

Banks have a surplus of money and they can't keep it all in their vault.

Banks need people to make money so they can buy products and support the economy.

Banks are paying interest because they are paying you to use your money.

Banks pay interest because they are looking out for your best interest.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anil deposits his money in a bank that is going to pay out 4% interest. Mukesh is going to put her money in a bank that pays 5% interest. Who is going to make more money?

Anil

Mukesh

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