Banking Quiz

True or False: Commercial Banks do not make a profit.

• True

• False

Citi Bank is what kind of bank?

• Savings & loan

• Commercial

• Credit Union

• Money Market Account

Name a way that a bank makes money.

What does the bank use your deposited money for?

The FDIC will insure up to how much of your money?

Banks that specialize in offering long term financing for homes and small businesses.

• Commercial Bank

• Savings & Loan

• Money Market Account

• Credit Union

True or False: Credit Union are For-Profit.

• True

• False

Nonprofit banks owned by members, who are often from a single organization or trade union.

• Commercial Bank

• Savings and Loan

• Credit Union

• Money Market Account

True or False: Credit Union fee and loan rates are lower than commercial banks.

• True

• False

True or False: Most Credit unions are NOT insured by the FDIC.

• True

• False