Financial Institutions & Checking and Savings Accounts Quiz
11th Grade
•33 Qs
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Financial Institutions & Checking and Savings Accounts Quiz
Quiz
•
Business
•
11th Grade
•
Practice Problem
•
Easy
Natalie Coronas
Used 44+ times
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33 questions
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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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