Font size
WorksheetsTerm QUIZ Review #2
Total questions: 53
Worksheet time: 53mins
What is one example of a Credit Union?
Chase
SchoolsFirst
Maximize Profits
ING Direct
What is an early withdrawal fee?
The bank will charge this if you take your money out of a CD after the term is over.
The bank will charge this if you take your money out of a CD before the term is over.
The FDIC will charge this if you take your money out of a CD before the term is over.
The FDIC will charge this if you take your money out of a CD after the term is over.
Who created the FDIC?
U.S. Senate
Federal Government
The Vice President
Rhianna right after the Super Bowl
This account type rarely pays interest.
savings account
checking account
CD
Debit Card
Liquidity Examples...
Stocks
Real Estate
Coin Collection
Antiques
What is one example of a Retail Bank?
ING Direct
Chase
Ally Bank
SchoolsFirst
Which institution offers CDs?
Retail Banks
Online Banks
Credit Unions
All of the above
What institution requires membership before being able to join...
Retail Banks
Online Banks
Credit Unions
All of the above
An Online Bank is a non-profit bank.
True
False
If you don't have enough money in your bank account, your debit card will ___________.
make your money work for you.
bounce.
self-destruct.
be declined.
Which institution has many branches/physical locations?
Retail Banks
Online Banks
Credit Unions
All of the above
A measure of how easy or difficult it is to turn an asset into cash.
CD
FDIC
iliquidity
liquidity
ATMs are available for...
Retail Banks
Online Banks
Credit Unions
All of the above
Which institution(s) has physical locations?
Retail Banks
Online Banks
Credit Unions
All of the above
If there is not enough money in the checking account, this is called ____________.
Out-of-Network ATM charge
Illiquid
Illiterate
Insufficient Funds
Which institution has fewer branches/physical locations?
Retail Banks
Online Banks
Credit Unions
All of the above
When do credit cards charge interest?
When you pay on time
When you pay after the grace period
When you pay in full
When you pay before the end of the grace period
Which institution offers debit and credit cards?
Retail Banks
Online Banks
Credit Unions
All of the above
If you pay your credit card bill late, your credit score will __________________.
go up.
go to Buena Park Mall.
sky rocket up then go down after 24 hours.
go down.
A Credit Union bank is a profit bank.
True
False
How much money does the FDIC insure?
$250,000,000
$25,000
$250,000,000,000
$250,000
All credit cards charge an annual fee.
True
False
If you just pay a small amount on your credit card each month, this is the _______________.
minimum balance
minimum amount
minimum payment
mini-me
Which institution is owned by shareholders? (Think business)
Retail Banks
Online Banks
Credit Unions
All of the above
If you wanted to earn a higher interest rate AND you could leave your money in the account for a certain amount of time, you would choose THIS type of account.
FDIC
Credit Cards
CD
Debit Cards
Which banks(s) offer savings and checking accounts?
Retail Banks
Online Banks
Credit Unions
All of the above
What is a credit union?
A financial institution that is non-profit.
A financial institution that is profit.
A financial institution that is online.
A financial institution that is only for credit cards.
If you just pay the minimum payment on a credit card each month, you ____________.
will pay for a long time.
will pay lots of interest.
are not wise
All of the above.
If you pay your credit card bill late, you will pay ________.
a late fee.
an out-of-network ATM fee.
a bounced check fee.
for a large pizza for your teacher.
If you are in credit card debt, you should __________.
move to Canada.
burn the statements.
cut up the cards and stop spending on credit.
ask for a higher credit limit.
What does APR stand for?
Annual Percentage Rate
Average Percentage Rate
Annual Precipitation Rate
Annual Perspiration Rank
Money market definition.
A checking account that pays lower interest rates.
A savings account that pays higher interest rates.
A checking account that pays higher interest rates.
A savings account that pays lower interest rates.
If you are late paying your credit card, your APR might go up. (T/F)
True
False
You must have ______________ to get a debit card.
a credit card
a bank account
a driver's license
swag
Credit cards are actually short-term loans.
True
False
What is the definition of a Financial Institution?
The business of providing youth services to customers.
The union of providing financial services to customers.
The business of providing financial services to dogs.
The business of providing financial services to customers.
The time between making a purchase with a credit card and paying the bill is _______________.
time to take a nap.
float.
the term.
the grace period.
What is an online bank?
A bank that doesn't exist on the Internet.
A bank that only exists on the Internet.
A credit that only exists on the Internet.
A debit that only exists on the Internet.
What is how a bank makes its profit?
Charging borrowers a lower interest rate than the interest rate paid to depositors.
Charging lenders a higher interest rate than the interest rate paid to depositors.
Charging lenders a lower interest rate than the interest rate paid to depositors.
Charging borrowers a higher interest rate than the interest rate paid to depositors.
When do debit cards take the money out of your account?
FDIC
after you get a statement
30 days
immediately
Which institution is for profit?
Retail Banks
Online Banks
Credit Unions
All of the above
After you make a purchase using a credit card, the credit card company sends you _____________.
a statement.
flowers.
a bill.
a notice.
This account type pays only a little bit of interest but has no or low minimum required balance.
savings account
checking account
CD
FDIC
What is the minimum balance requirement?
A lender has to keep a certain amount of credit in an account.
A depositor has to keep a certain amount of credit in an account.
A depositor has to keep a certain amount of money in an account.
A lender has to keep a certain amount of money in an account.
What is illiquid?
If an asset is difficult to turn in to cold, hard cash.
If a liquid is difficult to turn in to cold, hard cash.
If an asset is difficult to turn in to cold, hard credit.
If an liquid is difficult to turn in to cold, hard cash.
What is the main goal of a Retail Bank?
Minimize Profits
Minimize Debt
Maximize Profits
Maximize Debit
What does CD stand for?
Certificate of Debit
Certified of Deposit
Certificate of Deposit
Certified of Debit
What is one Bank Service a bank offers?
Crypto
Post Cards
Stamps
CD's
What are insufficient funds?
When a credit score "bounces"
When the FDIC "bounces"
When cash "bounces"
When a check "bounces"
What is an asset?
Something you rented that has value.
Something you own that has sentimental value.
Something you borrow that has value.
Something you own that has value.
Are CDs considered to be risky?
low risk
high risk
in the middle
Illiquid Example...
Stocks
Bonds
Cash
Real Estate
What does FDIC stand for?
Federal Depot Insurance Corporation
Federal Deposit Insurance Corporation
Federal Deposit Insignificant Corporation
Federal Destiny Insurance Corporation
