
Understanding Checking and Savings Accounts

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard
Jennifer Brown
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the main purposes of having a checking or savings account?
To earn a high interest rate
To manage money conveniently and protect it
To invest in the stock market
To avoid all types of fees
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of account is typically used for everyday expenses?
Retirement account
Investment account
Checking account
Savings account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of a savings account?
No interest earned
Limited withdrawals per month
High interest rates
Unlimited withdrawals
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you easily transfer money between checking and savings accounts?
By visiting the bank in person
Using online banking or a mobile app
By writing a check
By calling customer service
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if you use a debit card and there are insufficient funds in your account?
The transaction is declined without any fees
The transaction is completed without any issues
You are charged a non-sufficient funds fee
The bank automatically transfers money from savings
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a benefit of having a checking account with mobile check deposit?
You earn higher interest rates
You can deposit checks without visiting a bank
You avoid all types of fees
You receive cash back on deposits
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you avoid monthly maintenance fees on your accounts?
By withdrawing cash regularly
By using your debit card frequently
By maintaining a minimum balance
By opening multiple accounts
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