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Money

Total questions: 40

Worksheet time: 30mins

Name
Class
Date
1.

You can return money on your credit card at any time without being charged an interest rate

a)

yes

b)

no

2.

To receive your salary you should open

a)

store value card

b)

debit card

c)

credit card

3.

To withdraw or deposit money you should use _____ card

a)

store value

b)

debit

c)

credit

4.

The phone card for recharging your phone balance is an example of ___ card

a)

store value

b)

debit

c)

credit

5.

Borrowers look for the _____ interest rate

a)

lowest

b)

highest

6.

When you open saving account you look for the ____ interest rate

a)

highest

b)

lowest

7.

CD confirms that you have

a)

checking account

b)

saving account

8.

Saving account is an example of

a)

near money

b)

transaction money

9.

To keep valuable things in the bank you should open

a)

saving account

b)

safe box

c)

checking account

10.

____ help you receive many bank services 24/7

a)

ATM

b)

numerous bank branches

11.

This serves as a guarantee that you can return the loan

a)

mortgage

b)

credit

c)

collateral

12.

Government secures your deposits through

a)

collateral

b)

insurance

c)

bonus

13.

Fed ------- (select all correct answers)

a)

provides loans to banks

b)

regulates money supply

c)

collection of 12 banks

d)

provides mortgages

14.

They have no profit motivation

a)

credit unions

b)

S&Ls

c)

commercial banks

15.

Modern type of money

a)

representative

b)

fiat

c)

commodity

16.

Online purchases on websites are examples of electronic banking.

a)

yes

b)

no

17.

Main problem of barter is to find someone who is willing to exchange on what you need.

a)

yes

b)

no

18.

Durability is _____ property

a)

physical

b)

economical

19.

Scarcity is _____ property

a)

physical

b)

economical

20.

Ability to carry easily

a)

portability

b)

acceptability

21.

I can buy with CDs and stocks

a)

yes

b)

no

22.

Checking accounts are

a)

M1

b)

M2

23.

CDs are

a)

M1

b)

M2

24.

For the one who is addicted to shopping _____ card is safer

a)

debit

b)

credit

25.

Your money is stored on

a)

debit card

b)

credit card

26.

Specializes only on mortgages and auto loans

a)

S&L

b)

credit unions

c)

commercial banks

27.

Specializes only on mortgages

a)

S&L

b)

credit unions

c)

commercial banks

28.

a business loan can be taken only in

a)

S&L

b)

credit union

c)

commercial bank

29.

This kind of service is provided only by a commercial bank

a)

saving accounts

b)

checking accounts

c)

loans

d)

credit cards

30.

The idea that a bank can lend only part of its money to guarantee stability

a)

fractioning

b)

portioning

31.

The central bank works only with the government and banks

a)

yes

b)

no

32.

What does the bank do with the money in your account?

a)

stores

b)

invests

33.

The goal of any bank is

a)

to help people

b)

gain profit

34.

credit unions

a)

are cooperatives

b)

require membership

c)

offer automobile and mortgage loans

d)

offer the lowest interest rate for loans

e)

work to gain profit

35.

If you took a mortgage and can't pay

a)

the bank will take your house

b)

the bank will take your car

36.

Who owns a car when you took an auto loan?

a)

you

b)

bank until you pay back

37.

Credit card is a part of M1

a)

yes

b)

no

38.

The money on your credit card belongs to

a)

you

b)

bank

39.

When you change your card

a)

the number of your bank account changes

b)

the card number changes, but account number stays the same

40.

If you need to deposit money, you need to tell

a)

cvc

b)

card number

c)

bank account