Depository Institutions Quiz

What is one characteristics of a  

commercial bank?  

• For Profit

• Have membership qualifications – members must share a “common bond”

• Not-for-profit – owned by members

• Offer many services but usually not as many as a bank

What is NOT a characteristics of a  

Credit Union?  

• Offer numerous financial services

• Have membership qualifications – members must share a “common bond”

• Not-for-profit – owned by members

• Offer many services but usually not as many as a bank

How much is each depositor insured per institution?

• $255,000

• $250,000

• $225,000

• $260,000

The price paid for using someone else's money is called ___________.

• Interest Rate

• Interesting

• Interest

• Interested

The (2) most common banking accounts are:

• Checking/Bank

• Savings/Pensions

• Money market/IRA's

• Checking/Savings

ATM stands for ________.

• Automated Teller Machines

• Automated Talking Machines

• Automated Teller Market

• Automatic Tracker Machines

What service is NOT offered by depository institutions?

• Online Banking

• Mobile Banking

• Debit Cards

• Cash App Cards

Businesses that provide financial services are called ______.

• Online Banking

• Depository institution

• Debit Cards

• Department Stores

The ability to borrow money with the promise that you'll repay it in the future, often with interest.

• Debit

• Borrow

• Credit

• Department Stores

Apps that many depository institutions have developed that allow online banking access from devices such as cell phones, tablets, and other mobile devices

• Simple Banking

• Credit Banking

• Online Banking

• Mobile Banking