WorksheetsUnit 5.5 Banking
Total questions: 17
Worksheet time: 51mins
Name
Class
Date
1.
What is one difference between Banks and Credit Unions?
a)
Banks have Checking accounts and Credit Unions have Savings Accounts
b)
Banks are for profit. Credit Unions are Non-profit.
c)
Banks can give loans and Credit Unions cannot
d)
Credit Unions allow everyone to join and Banks are selective
2.
What is the name of a legal document that functions like cash?
a)
Check
b)
ATM
c)
Deposit slip
d)
PIN
3.
When do you have to sign a deposit slip?
a)
When you receive cash back
b)
When you deposit any amount of cash
c)
When you deposit more than $100
d)
When you deposit more than $10,000
4.
The tools and strategies the Federal Reserve uses to stabilize the economy is called?
a)
Fiscal Policy
b)
Monetary Policy
c)
Tight Money
d)
Easy Money
5.
How many federal reserve districts are there?
a)
5
b)
10
c)
12
d)
21
6.
Banks create money by taking in deposits, making _______, and charging _______.
a)
interest, payments
b)
loans, interest
c)
payments, loans
d)
debt, loans
7.
Another name for an overdraft fee is non-sufficient funds.
a)
true
b)
false
8.
What is interest?
a)
Something you do not have in economics
b)
The money corporations pay to their stockholders
c)
To set aside income for a period of time so that it can be used later
d)
The payment people receive when they lend their money or allow someone else to use their money
9.
A credit union...
a)
is a financial institution that focuses on taking deposits and using them to fund mortgages.
b)
is a non-profit institution owned by its members and provides financial services to its members.
c)
offers a broad range of deposit account and gives loans to individuals and businesses.
d)
is a financial institution for students only
10.
Piece of ownership in a company, mutual fund or other investment
a)
Share/stock
b)
401K
c)
Bond
11.
Money added into a bank account.
a)
withdraw
b)
deposit
c)
cash
d)
cheque
12.
Persons or institutions to whom money is owed
a)
Financial Institutions
b)
Interest
c)
Creditors
d)
Collateral
13.
Who owns a credit union?
a)
its members
b)
investment bankers
c)
the government
d)
commercial banks
14.
This account allows you to deposit money at a bank for safekeeping.
a)
Saving Account
b)
Checking Account
c)
Bill Account
d)
Casino Account
15.
This is the cost of using some other person's or bank's money.
a)
Interest
b)
Bill
c)
Principal
d)
Credit
16.
This account allows you to withdraw money, pay a bill, or make purchases easily.
a)
Checking Account
b)
Savings Account
c)
Market Money Account
d)
CD Account
17.
Which institutions charge the highest interest rates on loans?
a)
Pawn shops
b)
Payday lenders
c)
Schools
d)
Finance companies
100 %
