
Checking Account Quiz
Authored by Quintin Smith
Life Skills
9th Grade
Used 6+ times

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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of a checking account?
To earn high interest
To save money for long-term goals
To manage daily expenses and transactions
To invest in stocks and bonds
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a common way to deposit money into a checking account?
Writing a check
Using a debit card
Direct deposit from an employer
Paying a bill online
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you withdraw money from a checking account?
Using a credit card
Writing a check
Making a wire transfer
Depositing a check
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one advantage of opening a checking account at a credit union?
Higher fees
Lower interest rates on loans
More branches nationwide
Higher interest rates on savings
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one disadvantage of opening a checking account at a credit union?
Limited access to ATMs
Higher fees
Lower interest rates on savings
Less personalized service
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does FDIC insurance protect?
The bank's investments
The bank's employees
The depositor's money up to a certain limit
The bank's building and property
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the current standard insurance amount provided by the FDIC per depositor, per insured bank?
$100,000
$250,000
$500,000
$1,000,000
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