Financial Institutions Quiz

What should you look for when choosing a financial institution?

• The one with the most branches

• The one that offers the services that meet your needs

• The one with the highest fees

• The one with the most advertising

What type of account allows you to withdraw money by writing a check or using a debit card?

• Savings account

• Checking account

• Loan account

• Credit account

What do savings accounts typically provide?

• A fixed amount of interest

• No interest

• Various amounts of interest

• A line of credit

What does a debit card do when you make a payment?

• Charges your credit card

• Immediately transfers payment from your checking account

• Requires a signature for every transaction

• Withdraws cash from an ATM

What is used to protect debit card transactions?

• A password

• A personal identification number (PIN)

• A security question

• A fingerprint

What is the purpose of a money transfer app according to the text?

• To invest money in stocks

• To pay for online purchases

• To send and receive money to and from friends and family using a mobile device

• To check your bank account balance

What is electronic banking also known as?

• Mobile banking

• E-banking

• Online shopping

• Digital purchase

Which of the following is NOT a feature of electronic banking?

• Managing accounts

• Retrieving information about an account

• Transfer money between accounts

• Borrowing books from the library

Where can you do your banking when using electronic banking?

• At the bank only

• At home

• In the office during work hours

• At a friend's house

What can you do with electronic banking?

• Make payments

• Transfer money between accounts

• Retrieve information about an account

• All of the above