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WorksheetsMAHS Business Empire 1st Semester Exam
Total questions: 27
Worksheet time: 2hrs 13mins
Name
Class
Date
1.
Banks and credit unions are insured up to
a)
250.00
b)
250,000.00
c)
25,000.00
d)
2500.00
2.
____________ are small and ___________ are large.
a)
Banks and Credit Unions
b)
Credit Unions and Credit Unions
c)
Credit Unions and Banks
d)
Banks and Banks
3.
FIRST PRESIDENT OF UNITED STATES AND ALSO LOCATED ON THE DOLLAR BILL & QUARTER
a)
Abraham Lincoln
b)
None of the above
c)
John F Kennedy
d)
Benjamin Franklin
4.
a. Checking/Current account
b. Savings accounts
c. ATM Cards
d. Check Books
e. Deposit Accounts
f. Loans
g. Credit Cards etc
b. Savings accounts
c. ATM Cards
d. Check Books
e. Deposit Accounts
f. Loans
g. Credit Cards etc
a)
Services offered to Members Only
b)
Services offered to Customers Only
c)
Services offered to Credit Union Only
d)
Services offered to Credit Union and Banks
5.
True or False: There are four steps to opening a checking and savings account?
a)
True
b)
False
6.
Legal documents that function like cash are called_________.
a)
Cash
b)
Checks
c)
Money Market Account
d)
Savings Account
7.
Money must stay in this type of savings account for a SET PERIOD OF TIME. It is called a ___________________.
a)
Custodial Account
b)
Savings Account
c)
Money Market Account
d)
Certificate of Deposit
8.
True or False: You DON'T need your ID when opening a checking or savings account.
a)
True
b)
False
9.
True or False: Banks are For profit and owned by its members.
a)
True
b)
False
10.
Something unnecessary but desired.
a)
Need
b)
Want
11.
The main goal of a savings account is to
a)
Spend
b)
Save
c)
Spurge
d)
Think
12.
How much money should be in your savings account in the case that something ever happens?
a)
2 months worth
b)
5 months work
c)
6 months worth
d)
4 months worth
13.
Which one of the following would be listed under other deductions
a)
Federal
b)
FICA
c)
State
d)
Meals
14.
What is the most common method for paying employees?
a)
Payroll card
b)
Debit Card
c)
Cash
d)
None of the above
15.
Jonathan is excited because he just opened his first account at Bank of Bartlett. What is Jonathan called every time he enters the bank?
a)
Guest
b)
Representative
c)
Customer
d)
Member
16.
A plastic card, which looks like a credit card and is linked to bank accounts
a)
Credit Card
b)
Debit Card
17.
You have a water leak in the home you own and need to replace the flooring and cabinets in the kitchen.
a)
Renters
b)
Home owners
c)
Liability
d)
Long Term Care
18.
_________________ is a choice that affects a person’s life.
a)
Financial
b)
Major
c)
Decision
d)
Time
19.
What are the three methods for paying an employee
a)
Cash, Check, Card
b)
Check, Direct Deposit, Cash
c)
Payroll Card, Direct Deposit, Check
d)
Payroll Card, Cash, Direct Deposit
20.
How many savings accounts are there?
a)
3
b)
5
c)
2
d)
None of the above
21.
What will cover the risk: You are having a baby and need medical care.
a)
Disability
b)
Liability
c)
None of the above
d)
Life Insurance
22.
This fee is paid to the insurance company to make sure the insurance policy stays "ACTIVE"
a)
Co Payment
b)
Co Insurance
c)
Premium
d)
Dividend
23.
Morgan has insurance through State Farm Insurance Company. Morgan is considered to be a ___________________.
a)
Premium
b)
Coverage
c)
Disability
d)
Policyholder
24.
TRUE OR FALSE: BANKS AND CREDIT UNIONS OFFER THE SAME SERVICES.
a)
True
b)
False
25.
In 1956 _________ made IN GOD We Trust the Official motto for all coins and currency.
a)
Congress
b)
Supreme Court
c)
Senate
d)
The President
26.
_______________ are large and _________________ are small.
a)
Credit Unions, Banks
b)
Banks, Credit Unions
c)
Post Offices, banks
d)
Credit Unions, Banks
27.
You are unable to work for one year and need income to pay for living expenses.
a)
Disability
b)
Long Term Care
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