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Savings Quiz

Total questions: 8

Worksheet time: 4mins

Name
Class
Date
1.

An account similar to a traditional savings account but that typically pays higher interest, requires a higher minimum balance, and may allow check writing

a)

Balance of the account

b)

Money Market Savings Account

c)

Online Savings Account

d)

Interest Bearing Account

2.

An automatic electronic deposit of net pay to an employee's designated bank account

a)

Direct Deposit

b)

Checking Deposit

c)

Demand Deposit

d)

Checkable Deposit

3.

The amount you earn as the benefit of depositing money in an interest bearing account

a)

Dividends

b)

Awareness

c)

Adoption

d)

Interest

4.

Interest earned on both the principal amount and any interest already earned

a)

Simple Interest

b)

Charged Interest

c)

Nominal Interest

d)

Compound Interest

5.

The U.S. administration insuring deposits in U.S.credit unions against credit union failure

a)

Financial Stability Oversight Council (FSOC)

b)

Securities and Exchange Commission (SEC)

c)

National Credit Union Association (NCUA)

d)

Oversight of Credit Rating Agencies

6.

The U.S. corporation insuring deposits in US banks against bank failure

a)

Federal Deposit Insurance Corporation (FDIC)

b)

Boy Scouts of America

c)

Large Cap

d)

Small Cap

7.

Money set aside for unanticipated expenses or loss of income

a)

Sinking Fund

b)

Large Purchases

c)

Emergency Fund

d)

Mortgage Fund

8.

A measurement of your assets (money you've saved or things of value you own) minus your liabilities (money you owe others); also called net worth

a)

Poverty

b)

Wealth

c)

Income

d)

Money