SS 9.03-9.05

SS 9.03-9.05

4th - 5th Grade

10 Qs

quiz-placeholder

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SS 9.03-9.05

SS 9.03-9.05

Assessment

Quiz

Social Studies, Education

4th - 5th Grade

Hard

Created by

Erin Braden

Used 34+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What might happen if the government did not insure bank deposits?

Banks would be robbed far more often.

People would lose their savings if their banks went out of business.

Banks would have to buy safes with extremely thick walls.

Banks could no longer make loans to their customers.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a TRUE statement about banking?

Keeping your money at home instead of a bank prevents you from paying the interest fees that banks charge.

It's generally safer to keep your money in a bank than to keep it home.

Most new businesses are forced to start without loans from banks.

Most banks give their customers interest-free loans.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You can withdraw (take out) money from a savings account as many times as you want each month.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wes wants to get enough money to buy himself a new bicycle. He should probably open a:

checking account

credit card account

savings account

debit card account

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you borrow money from a bank for a loan, where does that money come from?

the money other customers have deposited with the bank

the bank's own business checking account

a credit card company

the federal government

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one way that banks make a profit?

by charging people interest to borrow money from them

by charging people interest to keep their money there

by charging a fee every time a customer writes a check or uses a debit card

none of the above (banks are nonprofit institutions)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you use a credit card to make a purchase, you never have to pay the money back.

True

False

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