Banking Quiz

Banking Quiz

10th Grade

11 Qs

quiz-placeholder

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Banking Quiz

Banking Quiz

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Hard

Created by

Kristina Oliverson

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11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of American adults are either unbanked or underbanked?

10%

35%

22%

50%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary concern for 29.2% of unbanked households?

Lack of access to credit

High-interest fees

Fees or minimum balance requirements

Difficulty building an emergency fund

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the biggest issue with using prepaid cards instead of credit cards?

Monthly fees

Inability to build credit history

Limited acceptance at retailers

High activation fees

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to the Financial Health Network, how much did unbanked and underbanked Americans spend in fees and interest on financial products in 2018?

$250 billion

$189 billion

$300 billion

$100 billion

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the indirect costs that unbanked and underbanked households face?

Time costs

High-interest fees

Lack of access to credit

Difficulty building an emergency fund

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the benefits of modern banking mentioned in the text?

Limited access to savings accounts

Lower interest rates

Access to financial technology

Higher fees

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the biggest reason for remaining unbanked according to the text?

Lack of trust in banks

High fees associated with bank accounts

Difficulty in building an emergency fund

Limited access to traditional financial services

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