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Banking

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.
Taking more money out of your account than is available​ is called?
a)
Overdraw
b)
Deposit
c)
Withdraw
d)
Balance
2.
What is one difference between Banks and Credit Unions?
a)
Banks have Checking accounts and Credit Unions have Savings Accounts
b)
Banks are for profit.  Credit Unions are Non-profit.
c)
Banks can give loans and Credit Unions cannot
d)
Credit Unions allow everyone to join and Banks are selective
3.
You should keep your pin number in your wallet.
a)
True
b)
False
4.
How do financial institutions make most of their money?
a)
Fees
b)
Interest
c)
Mutual Funds
d)
Loan Payments
5.
Banks create money by taking in deposits, making _______, and charging _______.
a)
interest, payments
b)
loans, interest
c)
payments, loans
d)
debt, loans
6.
Janet inherited a valuable necklace and needs a safe place to keep it when she isn't wearing it,
a)
checking account
b)
savings account
c)
safe deposit box
7.
Amirah is going to college and will not be able to visit her home bank very often. She needs a way to access her money and track what she spends.
a)
personal loan
b)
debit card
c)
online banking
8.
Jacayla wants to buy lunch for her friends but doesn't have any cash, and the restaurant will not take a check.
a)
debit card
b)
checking account
c)
online banking
9.
What fees do you have to consider when you open a bank account?
a)
interest, commission, maintenance fee
b)
opening fee, monthly fee, fee for withdrawing money
c)
opening fee, monthly fee, dividend
10.

What are the benefits of using a debit card?

a)

It is like using your own cash and it's convenient.

b)

There is no overdraft fee.

c)

There is no interest fee.

d)

You can check and track down your transactions.

11.

Fill in the blank.

Lucy's employer doesn't giver her a pay cheque. Instead, her pay goes into her bank account. She uses _________________ because it is convenient.

a)

direct deposit

b)

account balance

c)

NSF charge

d)

minimum balance

12.

Identify which documents Max needs to open a bank account.


Max wants to open a basic checking account at his local bank. He needs to bring his _________________ and ________________, along with a $50 deposit, to open the account.

a)

high school diploma; car insurance

b)

employment certificate; student ID card

c)

mom; dad

d)

Social Security card; driver’s license

13.

Choose all that apply.


Identify the benefits of online banking:

a)

Consumers can seek

specialized financial

advice from bank employees.

b)

Consumers can get paperless

bank statements instantly.

c)

Consumers have the convenience

of electronic deposits and

money transfers.

d)

Consumers can use the

bank’s notary services.

14.
To take more money out of your account than is available​
a)
Overdraw
b)
Deposit
c)
Withdraw
d)
Balance
15.
Monthly statement fee, ​per check fee, and ​Debit card (ATM) fee are examples of what?​
a)
Charges
b)
Credits
c)
Service Fees
d)
Debits