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JA- Financial Institutions

Total questions: 29

Worksheet time: 15mins

Name
Class
Date
1.

A for-profit business that receive deposits, pay interest, make loans and is backed by the federal government. These have buildings where people work and transactions are made.

a)

Credit Union

b)

Bank

c)

Savings and Loan

d)

Internet Banks

2.

A not-for-profit business owned by its members, who have something in common like where they work or live. Services may be limited.

a)

Credit Union

b)

Bank

c)

Savings and Loan

d)

Internet Bank

3.

Customers can access their money using mobile apps, telephone, web pages, and ATMs but there are no walk up tellers or buildings

a)

Credit Union

b)

Bank

c)

Savings and Loan

d)

Internet Bank

4.

Focus on home loans or car loans. Making a deposit is like an investment.

a)

Credit Union

b)

Bank

c)

Savings and Loan

d)

Internet Bank

5.

Janet inherited a valuable necklace and needs a safe place to keep it

a)

Checking Account

b)

Debit Card

c)

Safe Deposit Box

d)

Personal Loan

6.

Liam wants cash from his bank, but it is closed. He will use the ATM

a)

Checking Account

b)

Debit Card

c)

Safe Deposit Box

d)

Personal Loan

7.

Carlos owes you $15 and wants to pay you back, but he lives in Mexico. He will need to mail it with a stamped envelope through snail mail.

a)

Checking Account

b)

Debit Card

c)

Safe Deposit Box

d)

Personal Loan

8.

Ruby's home needs a kitchen makeover. She needs to borrow money and knows that she will need to pay it back over several years.

a)

Checking Account

b)

Debit Card

c)

Safe Deposit Box

d)

Personal Loan

9.

Tyler works part time. He wants to have money for college when he graduates so he won't have to borrow money.

a)

Checking Account

b)

Debit Card

c)

Safe Deposit Box

d)

Savings Account

10.

Manny wants to verify his account balance from home. He has high-speed Internet access.

a)

Internet Banking

b)

Debit Card

c)

Safe Deposit Box

d)

Savings Account

11.

When you sign a banking document, always remember to ...

a)

Sign in cursive

b)

Write the date

c)

make changes in your account register if you deposit or withdraw money

d)

All of the above

12.

When you write a check, on your register it is considered a ...

a)

Payment/Debit

b)

Deposit/Credit

c)

Balance

d)

Number

13.

When doing the work to find your new balance...

a)

Write in the white

b)

Do the math in the gray and you'll be o.k.

c)

Sign your deposit slip

d)

never subtract

14.

When you are depositing your first paycheck, you will need to ...

a)

go to the Business window at the bank

b)

write a check for a debit card

c)

Endorse the back of your check

d)

write the paycheck number in your register

15.

When you are depositing money and you want cash back, you must...

a)

Endorse the deposit slip

b)

Sign the deposit slip in cursive

c)

Fill out a check

d)

Go to the Business window

16.

On your register, It is important to make a note of who you paid or where you got money to deposit under...

a)

Signature line

b)

Transaction Description

c)

Fee

d)

Balance

17.

the exchange of money, goods, and services in an economy

a)

circular flow of an economy

b)

Public goods and services

c)

Required payments to the government

d)

financial institutions

18.

Taxes are...

a)

circular flow of an economy

b)

Public goods and services

c)

Required payments to the government

d)

financial institutions

19.

Banks, savings and loans, online banks are called...

a)

circular flow of an economy

b)

Public goods and services

c)

Required payments to the government

d)

financial institutions

20.

The _____________ is the amount left over from a paycheck after taxes and deductions are taken out.

a)

economy

b)

crumbs

c)

big nothing

d)

net pay

21.

The amount left over after all business costs are paid.

a)

profit

b)

bank account

c)

balance

d)

net pay

22.

Work done for others, such as haircuts, car repairs, on-line connections, free checks at a bank.

a)

Services

b)

Taxes

c)

Transaction

d)

Transaction Register

23.

Payments that citizens and businesses are required to make to a government (local, state and federal) to pay for public goods and services.

a)

Services

b)

Taxes

c)

Transaction

d)

Transaction Register

24.

A business agreement or exchange. Example: paying for a good or service

a)

Services

b)

Taxes

c)

Transaction

d)

Transaction Register

25.

A booklet for recording money put into (deposited) or removed from (withdrawn) an account.

a)

Services

b)

Taxes

c)

Transaction

d)

Transaction Register

26.

A bank safe where documents, jewelry, or other valuables are kept.

a)

Safe Deposit Box

b)

Deposit

c)

Withdraw

d)

Promissory Note

27.

This is what it is called when you put money in to any account at your financial institution.

a)

Safe Deposit Box

b)

Deposit

c)

Withdraw

d)

Promissory Note

28.

This is what it is called when you take money out of one of your accounts at a financial institution.

a)

Safe Deposit Box

b)

Deposit

c)

Withdraw

d)

Promissory Note

29.

An agreement to repay a loan within a certain time period.

a)

Safe Deposit Box

b)

Deposit

c)

Withdraw

d)

Promissory Note