WorksheetsMoney & Banking Practice Quiz
Total questions: 18
Worksheet time: 56mins
Coins and paper bills make up the _____ of the United States.
barter
currency
debt
The _____ is the central bank of the United States.
Financial institutions
Federal Reserve System
District Banks
Anything that's accepted in exchange for goods & services.
Currency
Money
Liquidity
Deferred Payment
A certain % of checkable deposits that banks keep on reserve.
Reserve Requirement
Excess Reserves
Savings
Fractional Reserve
What is the primary function of the Federal Reserve?
To collect taxes
To insure deposits
To manage the nation's money supply
To provide loans to the public
What happens when there is a decrease in the reserve requirement?
Banks have less money to lend.
Banks have more money to lend.
The value of the currency increases.
The interest rates automatically increase.
Inflation has (slowly) over time affected this coffee. What happened?
The coffee got less expensive.
There is more coffee now.
There is less coffee now.
The price of coffee has gone up.
What happens when there is too much money and too few goods/products?
Prices go lower?
Recession
economics
inflation
A payment card that deducts money directly from your checking account to pay for a purchase.
Debit Card
Credit Card
ATM
Checkbook
A record of your money habits that looks at your past behavior, taking into consideration unpaid bills, debts, and accounts open. A score is given to a bank to indicate if you are likely to pay back money loaned.
Bank statement
Credit Score
Late fee
Overdraft
A deposit bank account that lets you securely store funds while also earning interest. You can deposit your money at your bank through cash, check or bank transfer, and it will safely earn interest while it is in your account.
ATM
Debit Card
Checking Account
Savings Account
The act of taking out money from a bank.
Checking account
Deposit
Withdrawal
Savings account
The act of putting money (cash or check) into a bank.
Debit card
Checkbook
Withdrawal
Deposit
An account used for every day financial transactions or quick access to cash. Enables check-writing, use of debit card, and access to ATMs.
Checking account
Savings account
Deposit
Withdrawal
