Why are the decisions of the Federal Reserve usually not influenced by politics?

The members of the Fed have long terms and don't have to worry about getting re-elected.

The Fed is not part of the government.

The Fed is controlled by the President.

The Fed doesn't have to ask Congress for money.

What is the name of the group of people who make decisions about interest rates?

The Federal Open Market Committee

The Regional Federal Reserve Banks

What happens when the Fed lowers interest rates?

It makes it easier for businesses to grow.

It makes it more expensive to borrow money.

It makes it harder for people to buy things.

It makes it harder for banks to borrow money.

Why does the Fed not have to ask Congress for money?

They are independent of Congress.

They get money from the President.

What is a key difference between credit unions and retail banks?

Credit unions are only for people who live in a certain area.

Credit unions are owned by their members.

Credit unions do not offer loans.

Credit unions do not offer checking accounts.

What is one advantage that credit unions sometimes have over bigger banks?

They can offer better interest rates.

They offer more types of loans.

What is the main purpose of insurance companies?

To protect people from financial losses

To help people invest in stocks

What is the main difference between a bank and a credit union?

Banks are for-profit businesses, while credit unions are not-for-profit.

Banks are owned by the government, while credit unions are owned by their members.

Banks offer more services than credit unions.

Banks are only for people with good credit, while credit unions are for everyone.

What is one advantage of using a credit union?

Credit unions often offer better interest rates on savings accounts.

Credit unions usually have more branches than banks.

Credit unions are faster at adding new technology.

Credit unions are always cheaper than banks.

What is one thing you should consider when choosing between a bank and a credit union?

What kind of interest rates they offer on savings accounts.

How many friends use that bank or credit union.

How many years the bank or credit union has been in business.

How much money you have to deposit.

What is the main reason why credit unions often offer better deals on loans and savings accounts?

Credit unions are not-for-profit.

Credit unions are owned by the government.

Credit unions have more branches.

Credit unions are only for people with good credit.

What is one thing you should think about when deciding if a credit union is right for you?

If you need to use a lot of ATMs.

How many friends use that credit union.

How many years the credit union has been in business.

If you need to borrow money from a credit union.

What is one thing that is the same about banks and credit unions?

They both are insured by the government.

They both offer the same interest rates.

They both have the same number of branches.

They both are owned by their members.

What is one thing you should do after you compare your top choices for a bank or credit union?

Wait a few months to see if the rates change.

What is the main purpose of a checking account?

To pay for things you need now.

To earn interest on your money.

To keep your money safe from theft.

What is one way to keep your bank account safe?

Checking your bank account often.

Sharing your account number with friends.

Saving your bank login information on your computer.

What is the best way to make sure you are paying for everything correctly?

Keep your receipts and compare them to your bank statement.

Trust that your bank is always correct.

What is the best way to think about a checking account?

A place to spend money on things you need now.

A place to save money for a rainy day.

A place to keep your money safe from theft.

A place to earn interest on your money.

What is the best way to think about a savings account?

A place to spend money on things you need now.

A place to keep your money safe from theft.

A place to earn interest on your money.

Why is it important to check your bank account often?

To make sure everything looks correct.

To see how much money you have.

To see if you have any new messages.

To see if you have any new offers.

What is one way to protect your account information?

Don't share your account numbers or card details with anyone.

Share your account number with friends.

Save your bank login information on your computer.

What is one way to keep your account safe?

Don't check your bank account often.

Share your account number with friends.

Save your bank login information on your computer.

What are two reasons why keeping a lot of cash at home is risky?

It can be destroyed in a fire or flood.

It can be used to buy things you don't need.

What is the main difference between a checking account and a savings account?

A checking account is for paying bills, while a savings account is for saving money.

A checking account is for teenagers, while a savings account is for adults.

A checking account is for people who don't trust banks, while a savings account is for people who do trust banks.

What is one benefit of using online bill pay?

You can pay bills from anywhere with an internet connection.

You can get a discount on your bills.

You can pay bills without a bank account.

What is one reason why some people don't have a bank account?

They don't like using checks or debit cards.

They don't know how to use a bank account.

What is one way that a checking account can help you keep track of your money?

You can see all your finances by logging into your account.

You can get a discount on your bills.

You can pay bills without a bank account.

What is the main reason why it's important to check your bank statement every month?

To make sure you and the bank agree on all the transactions.

To see how much money you have in your account.

To make sure your bank is charging you the right fees.

To see if you have any new offers from the bank.

What should you do if you see a charge on your bank statement that you don't recognize?

Ignore it and hope it goes away.

Wait until the next statement to see if it's still there.

Check your receipts to see if you can find it.

What is the starting balance on your bank statement?

The amount of money you have in your account at the beginning of the month.

The amount of money you have in your account at the end of the month.

The amount of money you deposited during the month.

The amount of money you withdrew during the month.

What is the best way to make sure your bank statement is accurate?

Compare your list of spending to the statement.

Ask your parents to check it for you.

Call the bank every month and ask them to check it.

Don't worry about it, the bank will catch any mistakes.

What is a debit on your bank statement?

Money that you take out of your account.

Money that you add to your account.

A fee that the bank charges you.

A notice about a change in the bank's rules.

Why is it important to have money in your checking account?

To get a checkbook and debit card.

What happens to the money in your savings account?

It is used to give loans to other people.

It is used to pay for your rent.

It is used to buy things you need.

What is the main difference between a checking account and a savings account?

A checking account is used for spending money, but a savings account is used for saving money.

A checking account earns interest, but a savings account does not.

A savings account earns interest, but a checking account does not.

A checking account is used for saving money, but a savings account is used for spending money.

What is the main reason why you should transfer money from your savings account to your checking account?

To earn interest on your money.

To get a checkbook and debit card.

Module 3: Financial Exchanges and Institutions

Authored by Nicole King

Business

11th Grade

Module 3: Financial Exchanges and Institutions

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MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one way ethical investing can help the environment?

Ethical investing can help companies use less energy from fossil fuels.

Ethical investing can help companies make more money.

Ethical investing can help companies make new products.

Ethical investing can help companies hire more workers.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a robo-advisor?

A person who gives advice about investing.

A computer program that helps manage investments.

A type of investment fund.

A company that sells ethical products.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one thing you should look for when choosing an ethical investment?

How much money the company makes.

How many employees the company has.

How the company treats its workers and the environment.

How popular the company is.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a prospectus?

A document that explains how a company makes money.

A document that explains how an investment fund works.

A document that lists all the companies in a fund.

A document that shows how much money an investment has made.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Why might companies that care about their impact be better run?

They are more likely to make a profit.

They are more likely to be honest and fair.

They are more likely to be popular.

They are more likely to be big companies.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the main job of the Federal Reserve?

To help people find jobs.

To make sure the economy is doing well.

To control the price of gas.

To print money.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one way the Federal Reserve controls the economy?

They control the price of food.

They control the amount of money banks can lend.

They control the amount of taxes people pay.

They control the amount of money people can spend.

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Module 3: Financial Exchanges and Institutions

What is one way ethical investing can help the environment?

What is a robo-advisor?

What is one thing you should look for when choosing an ethical investment?

What is a prospectus?

Why might companies that care about their impact be better run?

What is the main job of the Federal Reserve?

What is one way the Federal Reserve controls the economy?

Why are the decisions of the Federal Reserve usually not influenced by politics?

What is the Federal Reserve's nickname?

What is the name of the group of people who make decisions about interest rates?

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