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Financial Literacy Unit Two Review 22-23

Total questions: 50

Worksheet time: 25mins

Name
Class
Date
1.

When choosing a bank, don't worry about the location.

a)

True

b)

False

2.

All banks are open for the same hours.

a)

True

b)

False

3.

Credit Unions are open to everyone who wants one.

a)

True

b)

False

4.

A bank insured by the FDIC will offer lower rates on car loans.

a)

True

b)

False

5.

If you build a relationship with a bank, the bank will be more likely to loan you money in the future.

a)

True

b)

False

6.

Money Deposited in a bank insured by the FDIC is insured by the federal government against theft or loss.

a)

True

b)

False

7.

By law, all banks must charge the same fees for checking accounts and ATMs.

a)

True

b)

False

8.

Credit Unions are non-profit groups.

a)

True

b)

False

9.

FDIC stands for ___________.

a)

Federal Deposit Insurance Corporation

b)

Fedarel Deposit Insurance Corportion

c)

Federal Diposit Insurance Corporation

d)

Federal Deposit Insurince Corporation

e)

Federal Deposit Insurance Cooperation

10.

When opening a new bank account you should ask yourself __________.

(Multiple Correct Answers)

a)

How much money will I need to open the account?

b)

Is there a minimum amount of money that must be kept in the accout?

c)

Is the bank teller going to be nice to me?

d)

Is the bank near a McDonalds?

11.

When opening a new bank account you should ask yourself __________.

(Multiple Correct Answers)

a)

Does the account pay interest?

b)

Is there a charge for writing checks?

c)

Do I need to wear a tie to go into the bank?

d)

What is the weather going to be like?

12.

When opening a new bank account you should ask yourself __________.

(Multiple Correct Answers)

a)

What is the charge for a bounced check?

b)

Can I use a debit card with this account?

c)

Do I need to wear a tie to go into the bank?

d)

What is the weather going to be like?

13.

When opening a new bank account you should ask yourself __________.

(Multiple Correct Answers)

a)

What is the charge for a bounced check?

b)

Can I use a debit card with this account?

c)

How much money I will need to open the account?

d)

Does the account pay interest?

e)

Is there a minumum amount of money that must be kept in the account at all times?

14.

You should try to find an account that has _____________.

a)

a free debit card

b)

free coffee

c)

lollipops

d)

a cute mascot

15.

You should try to find an account that has _____________.

a)

free online bill pay

b)

free soda

c)

attractive employees

d)

a Mulberry Tree outside to sit under

16.

An account ledger is where you __________.

a)

record what you wrote checks for

b)

sit and watch the sunset

c)

act like the Joker

d)

add money to your account

17.

A bank statement __________.

a)

shows all of your account activity

b)

shows all of your deposits

c)

shows all of your withdrawals

d)

shows all of your darkest secrets

18.

If you don't keep a good check register you could_________.

a)

Be overdrawn.

b)

pay fines.

c)

Bounce a check.

d)

Not be able to cover your necessary expenses.

19.

You should mail cash to pay your bills.

a)

True

b)

False

c)

Depends.

20.

What happened on 7/5?

a)

a paycheck was deposited

b)

check #164 was written

c)

nothing

d)

the balance went up

21.

Debit cards are also known as _________.

a)

ATM Cards

b)

ETM Cards

c)

MAT Cards

d)

Credit Cards

22.

When you use a debit card __________.

a)

the money is subtracted at the end of the month

b)

the money is subtracted immediately

c)

the money is subtracted at the end of the week

d)

money is deposited into your account immediately

23.

When you get a debit card, you choose ______________.

a)

a personal identification number (PIN)

b)

a pirsonal identification number (PIN)

c)

a personal identifikaton number (PIN)

d)

a personal identification numb (PIN)

24.

Debit cards work in an __________.

a)

automated teller machine (ATM)

b)

automated tiller machine (ATM)

c)

atomated teller machine (ATM)

d)

automated teller machin (ATM)

25.

Debit Cards are harder to get than a credit card.

a)

True

b)

False

26.

It is always free to use a debit card.

a)

True

b)

False

27.

When you use an ATM you should cover the keypad with your free hand.

a)

True

b)

False

28.

You should walk away from the ATM with your money in your hand.

a)

True

b)

False

29.

It is a good idea to use your birthday as your PIN, so you don't forget it.

a)

True

b)

False

30.

It is ideal to write your PIN on your debit card.

a)

True

b)

False

31.

It is no big deal if you lose your ATM card.

a)

True

b)

False

32.

Online Banking is also known as ________.

a)

Internet Banking

b)

Intrnet Banking

c)

Internet Bonking

d)

Intirnet Baking

33.

Larger Banks may offer _______.

(Multiple Correct Answers)

a)

online bill pay

b)

transferring money between accounts

c)

free coffee

d)

cuddles

34.

Larger Banks may offer _______.

(Multiple Correct Answers)

a)

checking your balance online

b)

checking your monthly bank statement online

c)

free coffee

d)

cuddles

35.

Larger Banks may offer _______.

(Multiple Correct Answers)

a)

checking your balance online

b)

checking your monthly bank statement online

c)

a free t-shirt

d)

a toaster oven

36.

Larger Banks may offer _______.

(Multiple Correct Answers)

a)

seeing images and and printing copies of checks you have written

b)

checking your monthly bank statement online

c)

a salad bar

d)

pet sitting

37.

Some banks exist only on the internet.

a)

True

b)

False

38.

You should mail cash to pay your bills.

a)

True

b)

False

c)

Depends.

39.

You should NOT put these on a check.

(pick two)

a)

Social Security Number

b)

Date

c)

Name

d)

Driver's License Number

e)

Amount

40.

When you get a debit card you choose a _________.

a)

Personal Identification Number

b)

Pirsonal Identification Number

c)

Personal Idintification Number

d)

Personal Identification

Numbur

41.

You should not put these on a check.

(pick two)

a)

Social Security Number

b)

Date

c)

Name

d)

Driver's License Number

e)

Amount

42.

You can use this at stores or an ATM.

a)

Debit Card

b)

Credit card

c)

ATM card

d)

Store Card

43.

You can only use this at an ATM.

a)

Debit Card

b)

Credit card

c)

ATM card

d)

Store Card

44.

Where you record how much money you spend or put in your account.

a)

ledger

b)

statement

c)

ledegr

d)

statment

45.

When you write a check you _______ the money from your account.

a)

Subtract

b)

Add

c)

Multiply

d)

Divide

46.

When you make a deposit you _______.

a)

Subtract

b)

Add

c)

Multiply

d)

Divide

47.

A record of the deposits, withdrawals, and balance on an account.

a)

Statement

b)

Statment

c)

Stattement

d)

Statemint

48.

Sign your checks in ________.

a)

cursive

b)

big block letters

c)

cirsive

d)

latin

49.

A debit card is also known as a _______.

a)

check card

b)

credit card

c)

cash card

50.

When you get a debit card you choose a _________.

a)

Personal Identification Number

b)

Pirsonal Identification Number

c)

Personal Idintification Number

d)

Personal Identification

Numbur

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