Why have a Bank Account?

Why have a Bank Account?

Assessment

Interactive Video

Information Technology (IT), Architecture, Business

KG - 12th Grade

Easy

Created by

Quizizz Content

Used 1+ times

FREE Resource

In this video, Jamal discusses a conversation with Malik about saving money. Malik wants to save for a video game console but forgets where he hid his money. Jamal suggests getting a bank account and explains the differences between current and savings accounts. He elaborates on the concept of interest, likening it to renting a bike. Malik learns about the benefits of savings accounts and decides to open one. He eventually remembers where he hid his money, resolving the issue.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was Malik's big idea for saving his birthday money?

To buy a new phone

To buy a car

To buy a video game console

To buy a bicycle

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What advice did Jamal give Malik about his money?

To ask mom for a bank account

To hide it in a sock

To lend it to a friend

To spend it quickly

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of a savings account?

To withdraw money anytime

To save money and earn interest

To spend money frequently

To pay bills online

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do banks use the money deposited in savings accounts?

They give it to charity

They keep it in a vault

They invest it in stocks

They use it for other projects

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is interest in the context of a savings account?

Money paid by the bank for saving

A charge for opening an account

A penalty for withdrawing money

A fee for using a bank account

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

At what age can most banks allow you to open a current account?

At age 5

At age 11

At age 18

At age 21

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What did Malik decide to do after learning about bank accounts?

Spend all his money

Open a current account

Open a savings account

Keep his money in a sock