Banking Unit Review
Quiz
•
Business
•
9th - 12th Grade
•
Practice Problem
•
Easy
Nolan Frank
Used 2+ times
FREE Resource
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31 questions
Show all answers
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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