
17.2 Our Banking System Quiz
Authored by Lauren Inclema
Social Studies
7th Grade
Used 17+ times

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15 questions
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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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