Banking 101 Presentation quiz

Define positive interest.

• Earning money on your savings.

• The cost of borrowing money.

• Losing money on your investments.

Name one type of bank that has physical locations.

• Credit union.

• Online bank.

• Brick and mortar bank.

Name one type of bank that operates solely online.

• Credit union.

• Online bank.

• Brick and mortar bank.

Which type of bank would be most convenient if you prefer face-to-face interactions?

• Credit union.

• Online bank.

• Brick and mortar bank.

• Mobile bank.

Name one document you would need to open a bank account.

• Identification (like a driver's license).

• A social security card.

• A birth certificate.

• A utility bill.

What is overdraft protection?

• A feature that helps you avoid spending more money than you have in your account.

• A fee charged when you withdraw money from an ATM.

• A type of loan provided by the bank.

• A service that increases your credit score.

How can a savings account help your money grow?

• By earning interest.

• By decreasing the value of your money.

• By charging fees.

What is direct deposit?

• A method of electronically receiving money into your bank account.

• A type of loan provided by the bank.

• A fee charged for using online banking services.

Name one benefit of direct deposit.

• Convenience.

• Higher interest rates.

• Lower fees.

What is one way to store and manage money, provide loans, and offer financial services?

• To store and manage money, provide loans, and offer financial services.

• To invest in stocks and bonds.

• To buy real estate.