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Understanding Banking Basics Quiz

Authored by Benoit Pongo

Mathematics

6th Grade

CCSS covered

Used 4+ times

Understanding Banking Basics Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one key difference between a checking account and a debit card?

A checking account earns interest, while a debit card does not.

A checking account is a type of savings account, while a debit card is a type of credit card.

A checking account allows for writing checks, while a debit card is used for electronic transactions.

A checking account is only available at online banks, while a debit card is available at all banks.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a feature of a debit card?

It allows you to borrow money from the bank.

It is linked directly to your checking account.

It requires a monthly fee to use.

It offers rewards points for purchases.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a debit card differ from a credit card?

A debit card requires a credit check, while a credit card does not.

A debit card uses funds directly from your bank account, while a credit card allows you to borrow money.

A debit card has a higher interest rate than a credit card.

A debit card can be used internationally, while a credit card cannot.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common feature of credit cards that debit cards do not have?

They are linked to a savings account.

They offer a line of credit.

They require a PIN for transactions.

They are issued by local credit unions only.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$150

$250

$200

$100

Tags

CCSS.7.NS.A.1C

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$625

$575

$725

$675

Tags

CCSS.3.OA.D.8

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What information is typically found in a credit report?

Your current bank account balance

Your employment history

Your credit card payment history

Your social media activity

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