Financial Literacy Quiz

What should you look for when choosing a financial institution?

• The one with the highest number of branches

• The one that offers the services that meet your needs

• The one with the most advertising

• The one that is closest to your home

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 is the purpose of a personal identification number (PIN) with a debit card?

• To immediately transfer payment from your checking account

• To record debit transactions

• To protect the card by verifying the user's identity

• To allow individuals to send and receive money

What can a money transfer app enable individuals to do?

• Record debit transactions

• Protect transactions with a PIN

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

• Transfer payment from a checking account to the app

How do debit cards transfer payment?

• By recording the transactions in an app

• By protecting the transaction with a PIN

• By allowing individuals to send and receive money

• By immediately transferring payment from your checking account

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?

• Manage accounts

• Retrieve information about an account

• Transfer money between accounts

• Borrow books from a library

Electronic banking allows you to do your banking from where?

• From the bank only

• From home at any time

• From a physical ATM only

• From a post office

Before transmitting personal or financial information, what should you make sure of regarding the website?

• It has a lot of advertisements

• It is a secure website

• It offers free gifts

• It has a colorful design