Unit 7 Review

Unit 7 Review

11th Grade

10 Qs

quiz-placeholder

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Unit 7 Review

Unit 7 Review

Assessment

Quiz

Business

11th Grade

Practice Problem

Medium

Created by

Von Medley

Used 11+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you save money in a piggy bank to buy a new cell phone, this is most like the financial institution service of ___________________.

Lending

borrowing

saving

investing

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Most banks today go way beyond just offering checking and savings accounts. Many offer investment services and financial advisors.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a bank provides their customers a place to earn money over the long term by allowing other companies to use their money, they are offering the financial service of _____________

saving

investing

spending

borrowing

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cory gives his friend money to buy a cheeseburger since he forgot his wallet at home, but expects to be repaid. This  represents the financial service of:

lending

investing

saving

borrowing

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is NOT covered by FDIC at a commercial bank?

certificates of deposit

checking accounts

savings accounts

shares of stock

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is the first step in opening a new bank account?

ordering your checks

balancing check book

filling out application

taking out loan

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bank statements are monthly records of the activity in your bank account.

True

False

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