Chapter 10 - Banking

Chapter 10 - Banking

9th - 12th Grade

•

22 Qs

quiz-placeholder

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Chapter 10 - Banking

Chapter 10 - Banking

Assessment

Quiz

•

Education, Life Skills, Business

•

9th - 12th Grade

•

Practice Problem

•

Hard

Created by

Julianne Hogan

Used 13+ times

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22 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

This is an account that a depositor uses where the bank pays you interest (low amount) for letting it use your money

2.

MATCH QUESTION

1 min • 1 pt

Match the following

Access your account by phone

Deposit Insurance

The movement of funds by electronic means

Electronic Funds Transfer (EFT)

A financial institution where you may deposit money.

Telephone Banking

A fee paid for the opportunity to use someone else's money over a period of time.

Bank

Insurance that protects your account when a bank fails.

Interest

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Loan is a lending of money that borrowers pay the bank interest (high amount) for money needed, allowing bank to make a profit.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Financial Services Modernization Act (1978) allowed financial institutions to consolidate the financial services they offer, which transformed the banking industry.

True

False

5.

MATCH QUESTION

1 min • 1 pt

Match the following Financial Institutions

nonprofit and owned by its members of a certain group.

Credit Unions

originally specialized in providing funds to home buyers, but now provide a variety of services

Commercial Banks

is not maintaining a branch office or employees, therefore passing the savings to customers.

Internet-Only Banks

state-chartered & are operated by trustees for the benefit of depositors

Savings and Loan

is owned by shareholders and operated for their profit.

Mutual Savings Banks

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

A document from the federal or state government that grants them the right to operate within certain legal limitations.

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

This is a federal agency that insures savings, checking, and other deposit accounts in most commercial banks, saving banks, and saving associations.

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