Banking Basics Quiz
Authored by Merlande Desmangles
Business
10th Grade
DOK Level 2: Skill/Concept covered
Used 2+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of bank account typically offers no interest but provides unlimited transactions?
Savings account
Checking account
Certificate of deposit
Loan account
Tags
DOK Level 2: Skill/Concept
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a primary advantage of using a savings account over a checking account?
Higher interest rates
Unlimited withdrawals
No monthly fees
Direct bill payments
Tags
DOK Level 2: Skill/Concept
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Certificate of Deposit (CD) requires that you leave your money in the bank for:
A fixed period of time
An indefinite period of time
Less than a month
As long as you want without any restrictions
Tags
DOK Level 2: Skill/Concept
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial institution type traditionally focuses on customer service and community involvement?
Commercial banks
Credit unions
Online banks
Investment banks
Tags
DOK Level 2: Skill/Concept
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a common consequence of living paycheck to paycheck?
Increased savings
Investment in stocks
Difficulty in handling unexpected expenses
Higher credit scores
Tags
DOK Level 2: Skill/Concept
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which account is best suited for setting aside money for emergencies?
Checking account
Savings account
Certificate of deposit
Brokerage account
Tags
DOK Level 2: Skill/Concept
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What distinguishes a checking account from a savings account in terms of accessibility?
Checking accounts typically have higher interest rates.
Savings accounts allow unlimited check writing.
Checking accounts offer more frequent access to funds.
Savings accounts are primarily online.
Tags
DOK Level 2: Skill/Concept
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