WorksheetsBank Accounts
Total questions: 20
Worksheet time: 10mins
What are the two main types of bank accounts?
Savings account and checking account
Investment account and retirement account
Cash account and loan account
Credit account and debit account
Explain the difference between a savings account and a checking account.
Savings accounts are for saving money and checking account is to pay bills only.
Savings accounts are for saving money and checking accounts are for everyday use.
Savings accounts are for saving money only, while checking accounts are for spending and saving money.
True or False: A checking account is for daily access.
False
True
True or False: A savings account has limited access.
True
False
This account allows you to pay for food, monthly bills, other purchases, and regular monitoring to prevent overdrafts.
Bank Accounts
Savings Account
Checking Account
This account let you build savings for emergencies and long-term goals like education, vacation, or a car.
Checking Account
Savings Account
Bank Accounts
You can spend money everyday from this account.
Savings Account
Checking Account
Why is it important to compare different banks before opening an account?
Because all banks offer the same interest rates and fees
To find the best interest rates, fees, and services that meet your financial needs.
To limit your options and make a quick decision
To avoid understanding the terms and conditions of different banks
True or False: A monthly statement is a list of transactions for a checking and savings account?
True
False
What is a debit card?
Debit cards allow you to borrow money from the bank, while credit cards deduct money directly from your account
Debit card is tied into your checking account and you use it to deduct money directly from your account through purchases
There is no difference between a debit card and a credit card
Debit cards are only used for online transactions, while credit cards are only used for in-store transactions
You have limited access to this account.
Checking Account
Savings Account
You get a monthly statement with a list of transactions.
Checking Account
Checking and Saving Account
Savings Account
Documents required to open an account are ID, passport, proof of address, social security number, and initial deposit.
Checking Account
Savings Account
Checking and Savings Account
No documents are required to open an account.
This account can be used for emergencies.
Checking Account
Savings Account
Checking and Savings Account
Transfer Money
Checking
Savings
Checking and Savings
This account do not have a debit card.
Savings and Checking
Checking
Savings
Access to mobile or online banking
Savings
Checking
Checking and Savings
Write a check
Checking
Savings
Savings and Checking
Higher Interest
Savings and Checking
Checking
Savings
An account that keeps your money safe while gaining interest.
Savings
Checking
Mutual Fund
Stocks
