Financial Literacy Quiz

An example of a financial institution is...

• A department store

• A bank

• A school

• An ATM machine

Who uses financial institutions?

• Adults

• College graduates

• Someone who maintains a savings or checking account

• Account holders with a lot of cash

An electronic way to view account activity and pay bills via the internet...

• Online banking

• Internet banking

• Financial institution

• None of the above

True or False: A debit card is like a paper check but doesn't require the processing time of a check.

• True

• False

True or False: A debit card is handy in an emergency when you don't have the money to spend.

• True

• False

True or False: A debit card is a pay-now payment type with no grace period for payments.

• True

• False

True or False: A bank is a not-for-profit financial institution.

• True

• False

True or False: Internet banking means using a bank branch to make deposits and withdrawals.

• True

• False

True or False: The lower an applicant's credit score, the lower the risk to the lender.

• True

• False

True or False: A debit card allows for immediate electronic transfer of money from an account.

• True

• False