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Banking Unit Review

Authored by Nolan Frank

Business

9th - 12th Grade

Used 2+ times

Banking Unit Review
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31 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of a Checking Account?

To earn high interest

To invest in stocks

To store and access money

To apply for credit cards

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is true about Savings Accounts?

They typically have higher interest

You can only access money once a year

They're used only for retirement

They require a credit check

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is overdraft protection?

A policy that closes your account after a negative balance

A feature that prevents all purchases if funds are low

A service that covers transactions when you don't have funds (might have a fee)

A type of savings account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following financial institutions is nonprofit and member-owned?

Commercial Bank

Investment Firm

Payday Lender

Credit Union

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the FDIC insure?

Stock market investments

Cryptocurrency accounts

Bank deposits up to $250K

Home values

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of account is best for making frequent transactions like paying bills or using a debit card?

Certificate of Deposit

Checking Account

Savings Account

Retirement Account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A routing number is:

A unique number that identifies a bank

Your account number

A loan number

A type of fee

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