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PF Unit 4 Lesson 3

Authored by Drew Sullivan

Financial Education

10th Grade

DOK Level 1: Recall covered

Used 2+ times

PF Unit 4 Lesson 3
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of account typically earns interest on the balance?

Checking account

Savings account

Credit account

Loan account

Tags

DOK Level 1: Recall

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of account usually does not earn interest?

Savings account

Checking account

Investment account

Retirement account

Tags

DOK Level 1: Recall

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a demand deposit account?

An account that requires a fixed deposit term

An account where funds can be withdrawn at any time

An account that charges a fee for withdrawals

An account that does not allow withdrawals

Tags

DOK Level 1: Recall

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain why it might be important to maintain a minimum balance in some accounts.

To avoid overdraft fees

To earn higher interest rates

To avoid monthly maintenance fees

To qualify for a loan

Tags

DOK Level 2: Skill/Concept

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Compare the benefits of a savings account versus a checking account.

Savings accounts offer higher interest rates, while checking accounts provide easier access to funds.

Checking accounts offer higher interest rates, while savings accounts provide easier access to funds.

Both accounts offer the same benefits.

Neither account offers any benefits.

Tags

DOK Level 2: Skill/Concept

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might someone choose a checking account over a savings account for daily transactions?

Checking accounts typically have higher interest rates.

Checking accounts allow for easier access to funds for daily use.

Savings accounts have more fees.

Savings accounts are not available at most banks.

Tags

DOK Level 2: Skill/Concept

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Analyze the potential consequences of not maintaining a minimum balance in a savings account.

The account may be closed automatically.

The account holder may incur fees.

The interest rate may increase.

The account may convert to a checking account.

Tags

DOK Level 3: Strategic Thinking

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