
Accounting & Banking Test
Authored by Heather Donn
Financial Education
8th Grade
Used 1+ times

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22 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of a bank?
To sell goods
To provide financial services
To manufacture products
To create laws
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a checking account used for?
Saving money
Making everyday transactions
Investing in stocks
Earning high interest
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the Federal Reserve do?
Manages the country's education system
Controls the supply of money
Oversees the healthcare system
Regulates international trade
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
What is interest in banking terms? (Multiple correct answers)
The cost of borrowing money
A penalty for late payments
A return earned from savings and investments
A type of insurance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a savings account primarily used for?
Daily expenses
Long-term savings
Buying stocks
Paying taxes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a loan?
A gift of money
Money borrowed that must be repaid
A type of insurance
A form of currency exchange
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a budget?
A plan for spending and saving money
A type of bank account
A financial penalty
A government tax
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