WorksheetsBank Accounts QUIZ
Total questions: 10
Worksheet time: 10mins
This type of account offers the following features:
-Save your money in a safe spot
-LOW interest earned here
-Kepp $ separate from your normal, everyday spending account
Checking account
Savings account
Retirement account
Loan
This type of account offers the following features:
-Offers a debit card to use at stores and online
-Use for your everyday spending
Savings account
Certificate of Deposit (CD)
Checking account
Loan
This type of account offers the following features:
-Safe place to keep your money w/ low-medium interest
-Lock your money away for 6 months, 9 months, 12 months, 18 months, etc.
-Fee to withraw money before time is up
-Can use this as a security / collateral for 1st credit card to start building credit
Savings account
Retirement account
Certificate of Deposit (CD)
Credit card
This type of account offers the following features:
-Borrow $$$ in order to purchase something
-Pay interest on top of the original amount of $ you borrow
Loan
Certificate of Deposit (CD)
Retirement account
Debit card
This type of account offers the following features:
- Check account balances
- Transfer money from one account to another
- Make virtual deposits with checks
- Set up automatic bill payments
- Make loan payments
Mobile or online banking
Checking accounts
Loans
Retirement accounts
This type of account offers the following features:
- Set up your stock market portfolio
- Purchase and track bond investments
- Purchase and track fund investments (ex: Mutual funds, Exchange traded funds, etc.)
Retirement account
Checking account
Savings account
Loan account
This type of card offers the following features:
- Borrow money to make purchases
- Build a credit score by making payments on time
- Late payments = Late fees = Credit score drop
ATM card
Debit card
Credit card
This type of card offers the following features:
-Connected to your checking account for direct purchases
-Connected to your savings account (optional) for transfers via mobile app or ATM
-Use for everyday spending at stores or online
Credit card
Checking account
Debit card
ATM card
This type of card offers the following features:
-Use only at automatic teller machines
-Cannot use at stores or online
-Safer way to access money when banks are closed
ATM card
Debit card
Credit card
Savings account
True or False: You must be 18+ to open any kind of bank account
TRUE!
FALSE!
