WorksheetsDepository Institutions
Total questions: 12
Worksheet time: 6mins
Name
Class
Date
1.
What is a characteristic of a commercial bank?
a)
For-profit
b)
Non-profit
c)
Membership qualifications
d)
Only available online
2.
What is characteristic of a credit union?
a)
Open to anyone
b)
Membership qualifications
c)
No physical locations
d)
Non-profit
3.
Does location affect your choice of depository institution?
a)
No
b)
Yes
4.
Are credit unions insured?
a)
Yes, and only credit unions are insured
b)
Yes, by the NCUA
c)
Only commercial banks are insured
d)
No depository institutions are insured
5.
What is interest?
a)
Price paid for using someone else's money
b)
Percentage of people interested in using banks
c)
How much money the bank pays to keep running
d)
The amount of money the bank has
6.
What is an interest rate?
a)
Percentage rate used to calculate interest
b)
Percentage rate of people using the bank
c)
Percentage rate of how much money you've spent
d)
Percentage rate of how much money the bank owns
7.
What is credit?
a)
Borrowed money that you have to pay back with interest
b)
Money you do not need to pay back
c)
Money you've earned for having good credit that isn't paid back
d)
Borrowed money that isn't paid with interest
8.
Which of these services do depository institutions offer?
a)
Financial advice
b)
Free money
c)
Ability to take more money than you have without penalty
9.
What is a debit card?
a)
Plastic card that used to connect to bank accounts
b)
Plastic card only used with specific stores
c)
Used to borrow money like a credit card
10.
An ATM can allow you to...
a)
Access and transfer money
b)
Order goods online
c)
Speak with others around the world
d)
Pay money directly to your boss
11.
What is contactless payment?
a)
Transaction completed where you don't use your hands
b)
Transaction with no physical connection to the person being paid
c)
Payment made where no people are contacted
d)
Payment where money is not used
12.
Which of these fees would an institution NOT charge you?
a)
Overdraft fee
b)
ATM fee
c)
Minimum balance fee
d)
Fee for using money
100 %
