Exploring Financial Institutions for Teens

Exploring Financial Institutions for Teens

Assessment

Interactive Video

Mathematics

1st - 5th Grade

Hard

Created by

Aiden Montgomery

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary function of a financial institution?

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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