WorksheetsBanking Basics Review
Total questions: 12
Worksheet time: 4mins
Which of the following is NOT a common feature of a financial institution?
Access to investment products
Paper Checks
Access to ATMS
Direct Deposit
Which of the following financial institutions typically have the highest fees?
Credit Unions
Brick-and-mortar banks
Check cashing and payday loan companies
Internet banks
Which of the following statements about check cashing companies is FALSE?
They offer bad deals where you'll owe a lot more than you borrowed
They charge low fees
They can take a percentage of your check on top of fees
They make it easy to fall into a loan cycle that is hard to get out of
Which type of bank account typically offers the least (if any) interest?
Savings account
Money Market Account
Certificate of Deposit
Checking Account
Which type of account is best for everyday transactions?
Checking Account
Savings Account
Money Market Account
Certificate of Deposit
Which savings account will likely earn you the MOST money?
One that earns simple interest monthly
One that earns simple interest daily
One that compounds interest monthly
One that compounds interest daily
What should you do before you approach an ATM?
Ask someone nearby for help using the ATM
Take a picture using your debit card so your friends know where you are
Check the ATM and it's surroundings to make sure it is safe to use
Inspect the ATM to make sure it wasn't tampered with
Which of the following statements about savings accounts is FALSE?
Savings account don't usually require a minimum balance
Savings accounts pay interest on the money you deposit
Savings account are best used to store money for longer-term goals
Savings account may limit the number of withdrawals that can be made each month.
Which of the following statements about stocks is TRUE?
A stock is a type of debt investment that acts like a loan
A stock is a type of investment that invests in a mix of different types of investments
A stock is a type of savings account that pays interest based on current interest rates in the money market
A stock is a share of ownership in a company
A mutual fund is...
A type of debt investment that acts like a loan
A type of investment that invests in a mix of different types of investments
A type of savings account that pays interest based on current interest rates in the money market
A share of ownership in a company
If there is a mistake with one of your bank accounts, who should you contact to
resolve the issue?
The Police
911
No one. Too bad for you :/
Your financial institution
What is the name of Mr. Brumm's student teacher?
Ms. Doorian
Ms. Dramamine
Ms. Diadrio
Ms. Doronzio
