CSmith Economics Unit 3: Banking Review

CSmith Economics Unit 3: Banking Review

12th Grade

20 Qs

quiz-placeholder

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CSmith Economics Unit 3: Banking Review

CSmith Economics Unit 3: Banking Review

Assessment

Quiz

Social Studies

12th Grade

Easy

Created by

Collin Smith

Used 12+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is a reason to have a savings account at a bank?

To ensure that your money is invested

To keep the economy strong

To improve your chances of a better interest rate

To keep your savings protected and insured

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What account is best to gain interest on a large sum of money you do not need access to anytime soon?

Savings

Checking

Certificate of Deposit

Money Management Account

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Which account should be used to make regular online payments for bills and expenses?

Savings

Checking

Certificate of Deposit

Money Management Account

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Media Image

What mistake did this account user make?

Too many transactions

Overdrafted account

Wrong account for these actions

Too much money deposited this month

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is one negative of putting your savings into a Certificate of Deposit?

Too much of it is invested

Money does not gain interest

Money can only be used for college tuition

Money cannot be withdrawn without large penalty

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is an issue when using an ATM outside of your bank's network to get cash?

Too hard to find

Too easy to get your account information stolen

Not enough cash can be withdrawn

Fees will be charged per withdrawal

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What can be done to avoid overdraft fees when using a bank account?

Online banking apps and alerts

Allowing it to happen, as it cannot be prevented

Setting up a trust with your bank

Opening an MMA, as these do not have overdraft charges attached

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