WorksheetsBanking Basics
Total questions: 10
Worksheet time: 5mins
What is a financial institution?
An institution that allows you to store your money
An institution that steals money from its clients and members
An institution that provides services for its clients and members
An institution that provides financial services for its clients and members
Identify ONE similarity between a bank and credit union.
Identify ONE difference between a bank and credit union.
What are checking accounts used for?
For saving money for unexpected expenses
For day to day transactions, hold and withdraw money, pay bills etc.
For day to day transactions, hold and withdraw money and to save money.
For paying bills only.
What are savings accounts used for?
To earn interest
For day to day transactions, withdraw and hold money, pay bills
To save money for unexpected expenses or big purchases, while earning interest
To save money for future health expenses
Identify ONE advantage for keeping your money in a bank or credit union.
True or False. If you keep your money in a bank or credit union, it is insured by either the FDIC or NCUA. Which means if something happened to the bank or credit union your money is safe.
True
False
True or False. All banks and credit unions offer the exact same services to customers or members.
True
False
Besides checking and savings accounts, identify ONE other service a bank or credit union may offer.
Do you currently have a checking and/or a savings account?
Yes
No
