WorksheetsBanking 101
Total questions: 10
Worksheet time: 2mins
All of the following are ways Banks make money EXCEPT
Interest charged on loans
Fees on products and services
Investments made by the bank
Donations made by citizens
Banks enable point of purchase transactions through products like debit cards.
True
False
When you borrow money from a bank to purchase a new car, you get paid interest from the bank.
True
False
The FDIC helps make banking safer by
Supervising and prosecuting corrupt bankers
Promising a minimum amount of interest earned on savings accounts
Insuring deposits up to $250,000 against bank failure
Banking is a purely American institutions (i.e. people in other countries don't use banks).
True
False
When you make a deposit into a savings account at a bank, you usually get paid interest.
True
False
Banking is something you only need to do once you've made a lot of money.
True
False
Through loans like auto loans and mortgages, banks enable consumers to make large purchases without having to save 100% of the purchase price.
True
False
When you deposit money into bank, the bank will do all of the following EXCEPT
use your money to fund loans to other consumers
use your money to make investments
do nothing with your money except hold it per FDIC rules
Banks can charge transaction and/or account fees as another source of income to the bank.
True
False
