Financial Literacy: Banking Quiz

Give 2 reasons why a bank or credit union is better than a piggy bank?

What amount is covered for each depositor per account in an FDIC insured bank?

• $150,000

• $200,000

• $250,000

• $350,000

The checking account balance you see on your banking app is always correct.

• True

• False

What would be the 3 most important factors that you would consider when deciding which depository institution fits your needs? Explain.

An overdraft fee may be charged if your balance falls below 0 in your checking account when using your debit card.

• True

• False

A person can earn and be charged interest.

• True

• False

What is the difference between a checking account and a savings account?

What are 2 ways you can access money from a checking account?

What is the difference between a debit card and a ATM card?

Why is it important to reconcile (balance) your check register?

• To see if all charges are valid

• To see if you received all of your refunds

• To see if your deposits went through

• All of the above