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Wise Financial Literacy Test -- Banking

Authored by Marybeth Deadmond

Social Studies

10th Grade

Used 47+ times

Wise Financial Literacy Test -- Banking
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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the

U. S. Treasury Department.

Federal Deposit Insurance Corporation. (FDIC)

State Banking Commission

Federal Reserve Board.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which financial product can you buy for $25, is safe, and will be worth $50 at a future date?

Series EE savings bond

Certificate of deposit

50 shares of ABC Co. stock

ABC Co. bond

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A blank endorsement on a check

Has no effect on the check

Cancels the check

Creates a check that can be cashed by anyone

Restricts the use of the check

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Patty is selling her car through a newspaper advertisement. When she finds a buyer, she wants a form of payment which is guaranteed to be good. Which form of payment should she avoid?

cash

certified check

cashier's check

personal check

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which financial product typically pays the highest rate of interest?

savings account

money market account

certificate of deposit

common stock

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Safe-deposit boxes are

A free benefit for accounts with deposits starting at $50,000

Safe and can be accessed only by the owner of the box

Available at all banks

Convenient and accessible at any hour of the day or evening

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which financial product has the most predictable income?

stock

real estate

certificate of deposit

option/future contract

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