WorksheetsG10, Financial Institutions and Your Money
Total questions: 10
Worksheet time: 5mins
What does the Federal Deposit Insurance Corporation (FDIC) provide?
Loan guarantees
Investment advice
Credit counseling
Deposit insurance
What is a secured loan backed by?
Interest rates
Credit score
A promise to repay
Collateral
Which of the following is a positive aspect of credit cards?
They make you feel richer than you are
They offer fraud protection
They make it easy to pile up debt
They carry high interest rates
What is a demand deposit account (DDA)?
An account with a fixed deposit term
An account whose funds can be removed without prior approval
An account exclusively for loans
An account that offers high interest rates
What factor affects your ability to get a loan?
Whether you have collateral
Your knowledge of the stock market
Your military service
Your religion
What is the role of a commercial bank?
To provide legal advice
To insure deposits
To accept demand deposits and make loans
To offer non-profit services
What should you never do with credit card payments?
Check for fraudulent transactions
Use for online purchases
Only pay the minimum monthly payment
Pay on time
What is the primary function of a savings account?
To provide loans
To secure large purchases
To keep money for long-term growth
To manage daily expenses
What does APR stand for in terms of credit cards?
Annual Percentage Rate
Automated Payment Requirement
Adjusted Payment Rate
Annual Payment Ratio
Which of the following is not a type of bank account?
Savings account
Checking account
Retirement account
Investment fund
