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End of Quarter Review 2

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

A credit union is a corporation, owned by stockholders.

a)

True

b)

False

2.

Taking money out of your account is called a:

a)

Deposit

b)

Withdrawal

3.

This type of account allows you to deposit money intended for future use:

a)

Checking Account

b)

Savings Account

4.

This fee is charged when your account does not have enough money in it to cover a payment:

a)

Stop Payment

b)

Overdraft Protection

c)

Insufficient Funds

d)

Monthly Service Fee

5.

This service is offered by your financial institution and will move money from one bank account to another to cover incoming charges for a small fee:

a)

Stop Payment

b)

Overdraft Protection

c)

Insufficient Funds

d)

Interest

6.

The central banking system of the United States is:

a)

The U.S. Treasury

b)

The U.S. Mint

c)

The Federal Reserve

d)

Bank of America

7.

The unique set of numbers that identifies a person's individual account at a financial institution is called the routing number.

a)

True

b)

False

8.

Which type of financial institution is a cooperative, owned by its members who share a common interest:

a)

Bank

b)

Credit Union

9.

Which type of financial institution is usually larger, with more locations among many states?

a)

Bank

b)

Credit Union

10.

Which of the following types of accounts is the only one in which your money is "locked in," or unavailable for you to use for a certain period of time?

a)

Money Market

b)

Checking Account

c)

Savings Account

d)

Certificate of Deposit

11.

Which of the following can you do at an ATM machine?

a)

Withdraw cash

b)

Check your balance

c)

Transfer funds

d)

All of the above

12.

On a transaction register, "deposit" can also be listed as which term?

a)

Debit

b)

Credit

13.

A "Currency Transaction Report" is filled out for cash deposits and withdrawals in excess of what amount?

a)

$1,000

b)

$5,000

c)

$10,000

d)

$100,000

14.

Which type of interest grows quicker over time?

a)

Simple Interest

b)

Compound Interest

15.

What protects an individual's funds at a financial institution in the even that company goes out of business?

a)

Interest

b)

Overdraft Protection

c)

Deposit Insurance

d)

Retirement Accounts