What is a reason to have a savings account at a bank?
CSmith Economics Unit 3: Banking Review

Quiz
•
Social Studies
•
12th Grade
•
Easy

Collin Smith
Used 12+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
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
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Money cannot be withdrawn without large penalty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Not enough cash can be withdrawn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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