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WorksheetsBanking at Carver
Total questions: 32
Worksheet time: 35mins
What is interest?
Something you do not have in economics
The money corporations pay to their stockholders
To set aside income for a period of time so that it can be used later
The payment people receive when they lend their money or allow someone else to use their money
Banks provide which of the following EXCEPT
debit cards
loans
check writing services
government subsidies
Piece of ownership in a company, mutual fund or other investment
Share/stock
401K
Bond
Money added into a bank account.
withdraw
deposit
cash
cheque
Commercial banks earn money in all of the following ways EXCEPT:
Investing in other companies
Charging fees for their services
Collecting interest on loans
Taking a percentage off of all deposits
Who owns a credit union?
its members
investment bankers
the government
commercial banks
Which of the following is NOT a service a bank provides
It makes loans to other customers.
It provides credit cards for its customers
Customers can deposit and withdraw money from their accounts
Helps you loan money to your friends
Which is a good reason to use a Financial Institution?
Putting your allowance in a safe place
Lending your friend $5
Borrowing money to buy a new toy
Which of the following is NOT a good reason to use a financial insitution
Borrowing money for college
Placing your birthday money in an account
Letting your friend borrow $10
Taking out a loan to purchase a home
Lucy wants to deposit her weekly allowance into a savings account. What is one good reason to to put her money in a savings account?
it is hard to withdraw and deposit money into it
it pays interest
the money can be lost or stolen
you must have a lot of money to open a savings account
When you pay back a loan, you not only pay the amount you borrowed, you also pay it back with _____________
Interest
Deposit
Withdrawal
Checking
Examples of these types of banks are Wells Fargo, Chase, and Regions
commercial banks
credit unions
charters
an independent agency created by the federal government to protect bank customers by insuring their deposits
Federal Deposit Insurance Corporation
Financial Depository Insurance Company
Financial Department of Insurance Corporation
Two types includes mutual savings and loan associations and stock savings and loans association
credit unions
savings and loans associations
commercial banks
a non profit financial cooperative owned by and operated for the benefit of its members; services offered only to its members
credit union
commercial bank
savings and loans associations
the movement of money electronically from one financial institution to another
electronic funds transfer
electronic financial transitioning
automated teller machine
service offered by most banks and credit unions that requires a Personal Identification Number (PIN) to check account balances, make cash withdrawals and deposits, and move money from one account to another.
electronic funds tranfer
electronic financial transitioning
automated teller machine
also called a check card, allows you to make purchases by swiping your card through a point of sale(POS) terminal that is usually located at the merchant’s checkout counter
debit card
credit card
ATM card
a check written for an amount greater than the balance of the account
overdraft
overspend
fraud
a written order for the bank to pay a specific amount to a person whom the item is written
check
money order
deposit slip
Choose two answers.
Jeff wants to open a basic savings account. He should go to which two types of financial institutions to open the account.
a financial services company
a commercial bank
an insurance company
a trust company
a credit union
Which financial institution offers high-risk loans?
financial service company
savings and loan association
commercial bank
credit union
Which financial institutions offers checking accounts?
financial service company
savings and loan association
commercial bank
credit union
What are high-risk loans?
loans that are given for risky home properties
loans that are provided by commercial banks
loans that are given to consumers with bad credit
loans that are invested in high-risk stocks
