Big Banks Mini Quiz

Big Banks Mini Quiz

12th Grade

15 Qs

quiz-placeholder

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Big Banks Mini Quiz

Big Banks Mini Quiz

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

Olivia Cochran

Used 14+ times

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15 questions

Show all answers

1.

DRAG AND DROP QUESTION

1 min • 1 pt

Can you exchange money for goods and services? (a)  

Yes
No

Answer explanation

Money is the “medium of exchange” people use to pay for things.

2.

DROPDOWN QUESTION

1 min • 1 pt

Does “money” ONLY refer to currency? (a)  

Yes
No

Answer explanation

Money includes currency and bank account balances, which can be turned into currency.

3.

DRAG AND DROP QUESTION

1 min • 1 pt

Can you make unlimited withdrawals from a savings account? (a)  

Yes
No

Answer explanation

Federal law limits the number of certain kinds of withdrawals you can make each month.

4.

DROPDOWN QUESTION

1 min • 1 pt

Is it safe to keep your money in the bank? (a)  

Yes
No

Answer explanation

The federal government insures bank deposits up to a certain amount of money.

5.

DROPDOWN QUESTION

1 min • 1 pt

Do banks pay people more for savings accounts than they charge for loans? (a)  

Yes
No

Answer explanation

Savings accounts pay a TINY amount of interest. Interest you pay on loans is much higher.

6.

DRAG AND DROP QUESTION

1 min • 1 pt

Could most people start a business without a loan? (a)  

Yes
No

Answer explanation

Starting a business can be expensive. Loans provide money for equipment and startup costs.

7.

DROPDOWN QUESTION

1 min • 1 pt

Does lending make more money available to spend? (a)  

Yes
No

Answer explanation

Lending actually multiplies the amount of money out in the community.

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