BizTown Unit 1: Financial Literacy Quiz

Which option lists financial institutions?

• credits and debits

• banks and credit unions

• libraries and schools

• clothing and food shops

Which services is a bank likely to offer?

• advertising and web searches

• time management

• balance and net deposits

• savings and checking accounts

What is private property?

• property that the government owns

• property that is free

• property that no one can see

• property that you own

If you wanted to start a new a store or business, which bank service do you need for money to start it?

• business loan

• savings account

• safe deposit box

• electronic payment

Which action is required when depositing money into an account?

• include your account number

• list your income

• swipe your credit card

• sign your money tracker

What is the purpose of a paycheck?

• to show proof of income

• to be sure you have money

• to keep track of your withdrawals

• to give you the money you earned in exchange for work

Where do you endorse a paycheck?

• on the back

• in the memo section

• in the money tracker

• after "Pay to the Order of"

Which is a responsible action to make with your money?

• spend it

• track it

• give it all away

• barter it

What does a savings account allow you to do?

• use a money tracker

• have money on hand for unexpected expenses or emergencies

• get money out of the bank

• have more spending money now

How does your money increase in a savings account?

• The banks pays you interest because it uses your money for other investments

• it grows by sitting in your checking account

• your money is multiplied by other people's money

• the government sets an interest rate that's the same for every bank