Quiz review - Banking, Taxes, Insurance
Authored by Jana Lane
Social Studies
9th Grade
Used 1+ times
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12 questions
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1.
REORDER QUESTION
1 min • 1 pt
Reorder the following about Banks
The bank lends out the money you deposited.
The bank pays some of that interest to those with savings accounts.
The borrowers pay interest.
You deposit savings in a bank (#1)
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
As your income goes up the percentage of taxes you pay goes up (what type of tax?)
Progressive tax
Proportional tax
Regressive tax
None of the aove
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A _____________tax may at first appear to be a fair way of taxing citizens because everyone, regardless of income level, pays the same dollar amount. By taking a closer look, it is easy to see that such a tax causes lower-income people to pay a larger share of their income than wealthier people pay
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which consumer credit option is known for its high interest rates and short repayment terms?
Payday loans
Mortgages
Credit cards
Personal loans
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role does insurance play in financial planning?
It guarantees that income and assets are protected
It helps build and maintain one's credit score
It helps cover day-to-day expenses
It grows in value and appreciates over time
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the four types of services offered by financial institutions for saving?
Credit cards, Auto loans, Mortgages, Personal loans
Checking accounts, Money Markets, CDs, Personal Loans
Savings accounts, Mutual Funds, Stocks, Treasury Bonds
Checking accounts, Savings accounts, Money Markets, CDs
Answer explanation
The correct types of services offered by financial institutions for saving are checking accounts, savings accounts, money markets, and CDs.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or False: Age is a factor that affects insurance premiums.
False
Age has no impact on insurance premiums
True
Insurance premiums are only based on income
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