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WorksheetsFinancial Literacy: Banking Quiz
Total questions: 14
Worksheet time: 16mins
Give 2 reasons why a bank or credit union is better than a piggy bank?
What amount is covered for each depositor per account in an FDIC insured bank?
$150,000
$200,000
$250,000
$350,000
The checking account balance you see on your banking app is always correct.
True
False
What would be the 3 most important factors that you would consider when deciding which depository institution fits your needs? Explain.
An overdraft fee may be charged if your balance falls below 0 in your checking account when using your debit card.
True
False
A person can earn and be charged interest.
True
False
What is the difference between a checking account and a savings account?
What are 2 ways you can access money from a checking account?
What is the difference between a debit card and a ATM card?
Why is it important to reconcile (balance) your check register?
To see if all charges are valid
To see if you received all of your refunds
To see if your deposits went through
All of the above
All of these are parts of a check EXCEPT:
Date
Signature
Dollar Amount
Balance of your checking account
Payee
A bank routing number
Identifies your savings account
Identifies your checking account
Identifies which financial institution your account is at
Is different for every customer
Interest is the price paid for using someone else's money.
True
False
Which of the following is TRUE about banks and credit unions?
Banks are for-profit; credit unions are not-for-profit.
There are more local credit unions than there are banks.
Banks are not taxed; credit unions are taxed.
Banks are insured for NCUA; credit unions by the FDIC.
