WorksheetsBanking and Financial Literacy
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
Name?
4 lines
2.
What is a checking account?
a)
A type of savings account
b)
A type of credit card
c)
A type of bank account
d)
A type of loan
3.
What is a credit union?
a)
OA government agency that regulates the banking industry
b)
A non-profit organization that provides financial services to the general public
c)
A type of bank that is owned and operated by its members
d)
A financial institution that offers banking services and products to its members
4.
How are credit unions different from banks?
a)
Credit unions do not provide online banking services
b)
Credit unions are not regulated by the government
c)
Credit unions are owned by their members, while banks are owned by shareholders
d)
Credit unions do not offer loans or mortgages
5.
Who can join a credit union?
a)
Only wealthy individuals
b)
Only members of the military
c)
Only people who live in a certain area or work for a specific company
d)
Anyone who has a job
6.
What types of services do credit unions offer
a)
Only bank accounts and loans
b)
Only credit cards and financial planning
c)
Only loans and credit cards
d)
Bank accounts, loans, credit cards, and financial planning
7.
What types of services do credit unions offer?
a)
What types of services do credit unions offer?
b)
Only bank accounts and loans
c)
Only credit cards and financial planning
d)
Only loans and credit cards
e)
Bank accounts, loans, credit cards, and financial planning
8.
Are credit unions insured?
a)
Yes
b)
No
c)
Maybe
9.
Are credit unions insured?
a)
Yes, by the Federal Deposit Insurance Corporation (FDIC)
b)
No, credit unions do not offer any insurance
c)
No, credit unions are self-insured
d)
Yes, by the National Credit Union Administration (NCUA)
10.
How do credit unions make money?
a)
By investing their members' deposits
b)
By receiving government subsidies
c)
By selling products and services to the general public
d)
By charging high fees to their membersOption 1
11.
Can anyone apply for a loan from a credit union?
a)
Yes, anyone can apply for a loan from a credit union
b)
No, credit unions only lend money to their members
c)
Only businesses can apply for a loan from a credit union
d)
Only individuals with a high credit score can apply for a loan from a credit union
12.
What is the difference between a debit card and a credit card?
a)
Debit card is linked to your bank account, credit card is a line of credit
b)
Debit card has a lower interest rate, credit card has a higher interest rate
c)
Debit card requires a PIN, credit card requires a signature
d)
Debit card has no fees, credit card has annual fees
13.
Which of the following is an example of a fixed expense?
a)
Movie ticket
b)
Grocery bill
c)
Rent
d)
Restaurant meal
14.
What types of services do credit unions offer?
a)
Only bank accounts and loans
b)
Only credit cards and financial planning
c)
Only loans and credit cards
d)
Bank accounts, loans, credit cards, and financial planning
15.
Which of the following is a type of investment?
a)
Savings account
b)
Credit card
c)
Loan
d)
Stocks
100 %
