Financial Institutions & Checking and Savings Accounts Quiz

Financial Institutions & Checking and Savings Accounts Quiz

11th Grade

•

33 Qs

quiz-placeholder

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Financial Institutions & Checking and Savings Accounts Quiz

Financial Institutions & Checking and Savings Accounts Quiz

Assessment

Quiz

•

Business

•

11th Grade

•

Practice Problem

•

Easy

Created by

Natalie Coronas

Used 48+ times

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33 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a financial institution (FI)?

A company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.

A company that manufactures financial products.

A government agency that regulates financial markets.

A non-profit organization that provides financial education.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT listed as a type of financial institution in the provided material?

Banks

Credit Unions

Retail Stores

Government Lenders

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a type of financial institution that deals with insurance?

Commercial Banks

Insurance Companies

Investment Companies

Credit Unions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a bank?

A place to store personal belongings

A financial institution licensed to receive deposits and make loans

A type of restaurant

A government office

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following services is NOT typically provided by banks?

Wealth management

Currency exchange

Safe deposit boxes

Medical services

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do financial institutions make money?

By charging fees for account maintenance

From the "spread" - the difference between the interest rate they pay for deposits and the interest rate they receive on the loans they make

By selling financial products

By offering investment advice

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do consumers look for a high interest rate on deposits?

Because the higher the number, the lower the earnings

Because the higher the number, the higher the earnings

Because the higher the number, the lower the risk

Because the higher the number, the higher the fees

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