
Big Banks Mini Quiz
Authored by Olivia Cochran
Social Studies
12th Grade
Used 14+ times

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15 questions
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1.
DRAG AND DROP QUESTION
1 min • 1 pt
Can you exchange money for goods and services? (a)
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)
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)
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)
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)
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)
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)
Answer explanation
Lending actually multiplies the amount of money out in the community.
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