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BizTown-Payment Methods Quiz

Authored by Rachel Ferenczy

Social Studies

5th Grade

Used 25+ times

BizTown-Payment Methods Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one advantage of using cash for payments?

Accepted nearly everywhere

Can be replaced if lost

Spending is easily tracked

No yearly fees

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What could be two disadvantages associated with using checks?

Slow to write

No possibility of identity theft

Funds are not immediately deducted

Accepted everywhere

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a benefit of using a credit card?

No possible yearly fees

Items can be purchased without having the money to pay for them

No financial difficulties if misused

Funds are immediately deducted

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is a disadvantage of using a debit card?

Funds are not immediately deducted

Easy to keep track of spending

Possibility of identity theft

Must carry cash

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which is a disadvantage of using electronic payments?

They require cash

They are not accepted everywhere

They offer unlimited spending

They provide physical cards

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is an advantage of using a gift card?

It can be used in multiple places

It must be loaded with funds from a bank

It can only be spent up to the amount it was purchased for

It can be replaced if lost or stolen

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a unique feature of prepaid cards?

They can be used to withdraw cash

They can be loaded automatically with direct deposit

They require a credit check

They have no bank fees

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