WorksheetsFinancial Literacy Banking
Total questions: 13
Worksheet time: 9mins
What does a bank do for you?
Keep your money safe while allowing you access to it
Charge you interest on the money they keep for you
Shine your shoes
Give you money when you ask politely
How does a bank make money?
Keep some of the money you deposit in a savings account
Charge interest on loans
Charge a tax for depositing money
Sell lollipops to gullible customers
Putting money into a bank is called
withdrawal
interest
deposit
cashier's check
A bank can charge a fee for
withdrawing money in certain ways
overdrafts
filing loan papers for a mortgage
All of the above
A mortgage is a loan for
a car
a college education
real estate
a business plan
If you write a check for $100 but you only have $50 in your account...
no one will care until the check comes to the bank
you have just overdrafted your account
you need to make a deposit before the check comes to the bank
all of the above
matching your checkbook balance with the bank's balance is called:
paying bills
calling a loan
reconciliation
overdrafting
A bank charges fees for overdrafts. How can they make the most money on these fees?
Process the biggest checks first in a daily batch
Pay all the checks they can before charging monthly fees they charge every month
Call and ask if it's ok that they charge you
Process only the checks you have money for
A bank is a public service
true
false
A bank can charge any interest rates they want, maximizing profit
true
false
The piece of paper you need to deposit cash to add that money to your account is:
a check
a withdrawal slip
a deposit slip
a lien
Doing this will affect your checking account balance at the bank immediately
using the ATM to withdraw cash
writing a check to pay your landlord
depositing a check at the bank's drive-up window
using a credit card
This will affect your bank balance whether or not you are aware of when it happens
direct deposits and automatic withdrawals
your landlord deposits your check into his account
monthly bank fees, overdraft fees, low balance fees
All of the above
