17.2 Our Banking System Quiz

17.2 Our Banking System Quiz

7th Grade

15 Qs

quiz-placeholder

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17.2 Our Banking System Quiz

17.2 Our Banking System Quiz

Assessment

Quiz

Social Studies

7th Grade

Hard

Created by

Lauren Inclema

Used 7+ times

FREE Resource

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the largest source of revenue for most banks?

Fees and service charges

New checking accounts

Interest on loans

Tariffs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Unlike most banks, mutual savings banks _________

Are nonprofit institutions

Are owned by depositors

help families buy land or houses

All the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

_________________ is money in a checking account.

Fractional reserve banking

Money supply

Loan

Demand deposit

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a major service banks provide?

Checking accounts

Savings accounts

Donations to Charity

Loans

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

_____________________________ is when banks keep a percentage of checking and savings deposits in reserve.

6.

OPEN ENDED QUESTION

3 mins • 2 pts

List TWO reasons why people take out a loan.

Evaluate responses using AI:

OFF

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which non-profit banking institution serves only its members?

Bank

Mutual savings bank

Savings and loan association

Credit union

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