Banking Basics Quiz

Banking Basics Quiz

11th Grade

31 Qs

quiz-placeholder

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Banking Basics Quiz

Banking Basics Quiz

Assessment

Quiz

English

11th Grade

Practice Problem

Medium

CCSS
3.OA.D.9, 6.RP.A.3C

Standards-aligned

Created by

Whitney Hart

Used 5+ times

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31 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a deposit account held at a financial institution which allows withdrawals and deposits?

Checking account

Savings account

Money market account

Certificate of deposit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following bank accounts does NOT provide money access during the term length?

Savings account

Money market account

Certificate of deposit

Checking account

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT considered a withdrawal?

Purchases

Transfers sent

Checks cashed

ATM withdrawals

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following should NOT be included when interpreting a bank statement?

Statement date

Information from a different account

Account activities

Account summary

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a true statement about reconciling a bank statement?

It involves matching up records with the information on the bank statement

It is not necessary to ensure the balance is correct

It can help with understanding spending pattern

It can help catch any mistakes or even fraud

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following financial documents is recommended to be stored for at least three to seven years?

Mortgage contract

Supporting tax documentation

Passport

Utility bills

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT correct when maintaining financial records?

Keeping documents which are difficult to obtain

Keeping financial records as long as necessary

Keeping unneeded paperwork

Keeping files in a safe place

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