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WorksheetsPurpose of Financial Institutions
Total questions: 10
Worksheet time: 28mins
Which situation shows a financial institution as a borrower?
Abby uses a credit card to pay for an online purchase
Kevin borrows money to pay for a course as a dental assistant
Luis deposits his paycheck into a savings account
Hailey takes out a loan to help her buy a house.
Which of the following is NOT a service a bank provides
It makes loans to other customers.
It provides credit cards for its customers
Customers can deposit and withdraw money from their accounts
Helps you loan money to your friends
Which is a good reason to use a Financial Institution?
Putting your allowance in a safe place
Lending your friend $5
Borrowing money to buy a new toy
Which of the following is NOT a good reason to use a financial insitution
Borrowing money for college
Placing your birthday money in an account
Letting your friend borrow $10
Taking out a loan to purchase a home
Lucy wants to deposit her weekly allowance into a savings account. What is one good reason to to put her money in a savings account?
it is hard to withdraw and deposit money into it
it pays interest
the money can be lost or stolen
you must have a lot of money to open a savings account
When you pay back a loan, you not only pay the amount you borrowed, you also pay it back with _____________
Interest
Deposit
Withdrawal
Checking
