Banking Quiz

This type of bank operates its branches and makes a wide variety of services available across the country.

• National Bank

• Regional Bank

• Online Bank

• Credit Union

This type of bank operates with no brick-and-mortar branches and is typically able to offer higher rates on its products.

• National Bank

• Regional Bank

• Online Bank

• Credit Union

This type of bank is owned by its members who are also its customers and typically is more focused on providing high-quality services for its members.

• National Bank

• Regional Bank

• Online Bank

• Credit Union

This type of bank operates in a specific area or group of states and provides services that may have more localized services.

• National Bank

• Regional Bank

• Online Bank

• Credit Union

What type of banks are Chase, Bank of America, Wells Fargo, and Citi Bank?

• National Banks
• Regional Banks
• Online Banks
• Credit Unions

What kind of fee could you be charged when you spend more money from your checking account than you have?

• Monthly Maintenance Fee

• Low Balance Fee

• Overdraft Fee

• Late Fee

What are 3 factors to consider when choosing a bank?

What is the main purpose of a checking account and what are some features?

• Used for long-term savings, high interest rates, limited withdrawals
• Used for everyday transactions, easy access, typically no interest
• Used for short term savings, earns interest, strict withdrawal limits
• Investment growth, periodic withdrawals, tiered interest rates

What is the main purpose of a savings account and what are some features?

• Used for long-term savings, high interest rates, limited withdrawals

• Used for everyday transactions, easy access, typically no interest

• Used for short-term savings, earns interest, strict withdrawal limits

• Investment growth, periodic withdrawals, tiered interest rates

What are the components of a Certificate of Deposit (CD)?

• Short-term loan, flexible interest rates, unlimited withdrawals
• Variable-term deposit, variable interest rate, unlimited withdrawals
• Open-ended deposit, variable interest rate, no withdrawal limits
• Fixed-term deposit, fixed interest rate, no withdrawals