WorksheetsUnit 1: Bank & Finance
Total questions: 20
Worksheet time: 13mins
This financial institution was formed by military personnel to meet their financial needs. What type of institution is this?
Credit union
Online bank
Commercial bank
Savings and loan association
What type of account is used regularly and handles day-to-day transactions?
Line of credit
Checking
Savings
Money market
Which type of account is also a type of loan, which the customer has access to for a set amount of time?
Line of credit
Savings
Checking
Money market
Frank has ten dollars. If he does not spend any of the money, it will keep its worth of ten dollars. How is he using money?
Maria paid her bill with a plastic card with a Visa logo that is tied directly to her checking account. What is she using?
ATM card
Debit card
Credit card
Check
What is the purpose of a bank?
A financial trader
A financial intermediary
A financial advisor
A financial investigator
What type of account holds money that a customer does not plan to spend immediately?
Savings
Checking
Money market
Line of credit
Which of the following is a digital currency that does not have a physical form?
Coinage
Cryptocurrency
Currency
None of the above
If Ryan purchases a sandwich, he is using money as:
A unit of measure
A store of value
A medium of exchange
None of the above
A financial intermediary is an entity that acts as a(n) ________ between two parties in a financial transaction.
Investor
Middleman
Investigator
Merchant
This financial institution helps everyday customers and small businesses with everyday transactions. What is it called?
Commercial bank
Online bank
Credit union
Investment bank
What is interest?
A fee paid to save someone else's money
A fee paid to use someone else's money
A fee paid to give away someone else's money
A fee paid to invest someone else's money
Helena sets the price of her scarves at $20. How is she using money?
A unit of measure
A store of value
A medium of exchange
A form of credit
This financial institution can only be accessed using a computer or smart device. What type of institution is this?
Credit union
Online bank
Commercial bank
Savings and loan association
Which type of account functions like a savings account, but limits the number of transactions?
Savings
Money market
Line of credit
Checking
What entity implements policies concerning the availability of money and its cost?
The National Credit Union Administration
The National Credit Association
The Federal Deposit Insurance Corporation
The Federal Reserve System
What type of account holds money that is guaranteed for a specific rate of interest for a specified amount of time?
Checking
Savings
Line of credit
Certificate of deposit
John has misplaced his debit card, but needs to make a payment for his electricity bill. What other form of payment can he use?
Credit card
Debit card
ATM card
Check
Who guarantees currency?
The FDIC
The country of issue
The person who holds the money
The financial institution that issued the money
Valerie has a plastic card that she can only use to withdraw money directly from her checking account. She cannot use this card to make purchases. What is she using?
Credit card
Check
Debit card
ATM card
