Types of Bank Accounts ~ Savings and Checking

Types of Bank Accounts ~ Savings and Checking

9th - 12th Grade

12 Qs

quiz-placeholder

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Types of Bank Accounts ~ Savings and Checking

Types of Bank Accounts ~ Savings and Checking

Assessment

Quiz

Others

9th - 12th Grade

Practice Problem

Hard

Created by

Jaime Key

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of bank account typically offers a higher interest rate: savings or checking?

savings

credit

mortgage

investment

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of bank account is best for everyday transactions like paying bills and making purchases?

Checking account

Investment account

Retirement account

Savings account

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Joint accounts are only for married couples.

Sometimes

True

False

Yes

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main advantage of a joint account?

Only one person can access the funds

Higher interest rates

Limited transaction capabilities

Multiple people can manage and access the funds in the account.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of bank account usually has a higher minimum balance requirement: savings or checking?

Investment

Credit

Checking

Savings

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of a savings account?

To pay bills online

To withdraw money easily

To store money securely and earn interest.

To invest in stocks

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of bank account allows multiple people to access the funds in the account?

Collaborative bank account

Joint bank account

Shared bank account

Group bank account

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