JA Biztown Financial Litracy Test

Which option lists financial institutions?

• debits and credits

• banks and credit unions

• clothing and food shops

• libraries andschools

Which services is a bank likely to offer?

• balance and net deposit

• 
  savings and checking accounts

• advertising and Web searches

• time management

What is private property?

• property that the government owns

• property that is free 

• property that is free 

• property that you own

Which bank service do you need for money to start a new store?

• business loan

• savings account

• safe deposit box

• electronic payment

What is the purpose of a paycheck?

• to show proof of your income

• to keep track of your withdrawals

• to give you money in exchange for work

• as a receipt that you purchased something

What does a savings account allow you to do?

• use a money tracker

• have money on hand for unexpected expenses or emergencies

• get money out of the bank

• have more spending money now

How does your money increase in a savings account?

• The bank pays because it uses your money for other investments.

• It grows by sitting in the bank account

• Your money is multiplied by other people's money.

• The longer you leave you money in savings account, the more it grows by a government-set rate

What would tell you how much money is in your bank account?

• certificate of deposit

• personal check

• transaction

• balance

Who protects the money in a bank's accounts?

• your parents

• the governement

• private security company

• you

Where does the money come from when you use a debit card to buy groceries?

• your certificate of deposit

• the credit company

• your bank account

• the government