
Unit 2 Review: Banking
Authored by Lara Sabatino
Mathematics
12th Grade
Used 1+ times

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11 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
You got your first $500 paycheck. If you are saving 10% of your paycheck, how much should you be saving each pay?
$5
$50
$100
$10
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the term for the money that a financial institution gives to you as a thank you for entrusting your money with them?
Interest
Principal
Equity
Dividends
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the term for a list telling you how much of your payment goes towards the principal and how much goes towards the interest for every single payment?
Appraised
Annual percentage rate (APR)
Amortization schedule
Liquid
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the term for a share of the profit of the company as a thank you for investing in them?
Dividends
Interest
Principal
Equity
5.
MATCH QUESTION
2 mins • 1 pt
Match the definition with the correct term.
bank
A person needs another person to sign for a loan.
credit union
This is a non-profit organization that is owned by its members.
cosigner
This can be added to an account in case more money is taken from an account than is in the account.
overdraft protection
This is a for-profit organization that is owned by the investors.
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Is the scenario below a situation where you opted-in or opted-out of overdraft protection when you opened your checking account? At the grocery store, you have a bill of $128, but you only have $100 in your account. Not realizing that your account was low, you attempt to make the purchase. When you swipe your debit card, the purchase is declined.
Neither
Opted-out
Opted-in
Not enough information to determine
7.
MATCH QUESTION
2 mins • 1 pt
Match the type of account with the description.
money market account
This type of account is where money is put to be used.
savings account
This type of account generally has a minimum balance, but typically has higher interest rates. You have the option of withdrawals, but they are limited.
checking account
This type of account has a mature date and higher interest rates. Money is placed here and left alone until the mature date.
certificate of deposit
This type of account is where money is typically placed and left alone. It also has a limited amount of withdrawals.
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