Financial Literacy: Session 4 Quiz

Why should you make deposits in a bank

• It ensures that the deposits are safe

• It inculcates habits of saving

• You get interest on the deposits

• All of the above

Which of the following are services of banks?

• Consultancy services

• Help in getting passports

• Provision of loans

• Foreign currency exchange

Which of the following is used to withdraw cash or make deposits?

• Debit card

• Credit card

• ATM

• Pin

When someone puts money into an account with a bank, this is called a...

• Deposit

• Donation

• Fee

• Loan

Which of the following has a limit on the number of withdrawals you can make each month?

• Checking account

• Savings account

• Both

• Neither

When a bank loans money to a person or a business, they charge a small fee to make money. What is this fee called?

• Savings

• Interest

• Credit

• Cash flow

The amount of money in your bank account is called?

• Deposit

• Interest

• Dollars

• Balance

When you buy something using a credit card, which of the following usually happens?

• You will receive a monthly bill and statement

• You will immediately receive a bill and statement

• You will be able to pay the store back whenever you want

• You will be have to pay for part of the item right away

What are the two types of accounts available at banks?

• Checking and loans

• Savings and loans

• Checking and savings

• Debit and credit

Who pays for the good or service when you use a debit card?

• Card provider

• Card holder

• Both

• Neither