What is the primary function of a financial institution?

Exploring Financial Institutions for Teens

Interactive Video
•
Mathematics
•
1st - 5th Grade
•
Hard

Aiden Montgomery
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To provide educational services
To operate as non-profit organizations
To manage and invest customer's money
To sell insurance only
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of account is typically used for everyday expenses?
Savings account
Investment account
Checking account
Loan account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main difference between a savings account and a checking account in terms of interest?
Checking accounts offer higher interest
Both offer the same interest rates
Savings accounts generally offer interest
Neither accounts offer any interest
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of a cashier's check?
To transfer funds internationally
To withdraw money from an ATM
To secure a loan from a bank
To make secure large payments
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a major risk associated with investments through financial institutions?
Fixed interest rates
Potential to lose money
Guaranteed returns
No access to funds
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of financial institution is member-owned and not for profit?
Bank
Brokerage firm
Insurance company
Credit union
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary focus of savings and loan associations?
Providing personal loans
Selling insurance policies
Investment in stocks
Home loans and related assets
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