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Banking & Personal Finance TEST

Total questions: 36

Worksheet time: 18mins

Name
Class
Date
1.

Financial institution that handles money.

a)

ATM

b)

Bank

c)

Budget

d)

Check

2.

Which of the following allows customers to borrow money from a financial institution up to a certain limit?

a)

Debit card

b)

Credit card

c)

Trust account

d)

Safety deposit box

3.

Which of the following is the definition of multi-factor authentication?

a)

Storing cash in a fire-proof safe

b)

More than one method of credential authentication to verify user identity

c)

Training employees to identify fraudulent bank notes

d)

Restricting access to bank locations to authorized personnel only

4.

Which of the following allows customers to have their paycheck electronically deposited directly into their account?

a)

Electronic withdrawal

b)

Deposit slip

c)

Online payment

d)

Direct deposit

5.

The electronic movement of money from one account to another is known as which of the following?

a)

Electronic funds transfer

b)

Financial electronic transaction

c)

Electronic movement of money

d)

Technology funds

6.

A bank account where you deposit and withdraw money and earn interest on the balance.

a)

your parents

b)

a piggy bank

c)

savings account

d)

spendings account

7.

Bank account that allows a customer to deposit and withdraw money.

a)

Savings Account

b)

Online Banking

c)

Checking Account

d)

Credit

8.

A banking service allowing a customer's money to be handled and tracked.

a)

Savings Account

b)

Bank Account

c)

Checking Account

d)

ATM

9.

Any card used repeatedly to borrow money or buy products.

a)

Debit Card

b)

Credit Card

c)

Loan

d)

Money Card

10.

A monthly or yearly spending and savings plan.

a)

Check

b)

Credit

c)

Credit Union

d)

Budget

11.

A non-profit financial institution.

a)

Online Banking

b)

Principal

c)

Bank

d)

Credit Union

12.

Increase the balance in a bank account

a)

Credit

b)

Currency

c)

Deposit

d)

Fees

13.

A written order instructing the bank to pay a specific amount of money to a specific person

a)

Check

b)

Fees

c)

Interest

d)

Debt

14.

Any form of money that is in public circulation

a)

Currency

b)

Expense

c)

Fees

d)

Bills

15.

A card linked to a checking account that withdraws money directly from the linked account.

a)

Credit Card

b)

Expense

c)

Debit Card

d)

Card

16.

Money, goods, or services you owe to others.

a)

A) Debt

b)

B) Fees

c)

C) Interest

d)

D) Income

17.

To put money into your account.

a)

A) Exchange

b)

B) Transfer

c)

C) Import

d)

D) Deposit

18.

A cost of living, rent or groceries. Money spent.

a)

Fees

b)

Expense

c)

Debt

d)

Money

19.

Charges for services associated with a financial institution.

a)

Interest

b)

Loan

c)

Income

d)

Fees

20.

Money received in exchange for labor or services, from the sale of items or property.

a)

income

b)

expense

c)

savings

d)

fees

21.

A secret combination of numbers to access your account.

a)

PIN (Personal Identification Number)

b)

code

c)

passcode

d)

password

22.

This can be earned from a bank or paid to a lender/credit card company.

a)

fee

b)

loan

c)

sales tax

d)

interest

23.

Someone giving money to someone in agreement of getting payed back with interest over time.

a)

loan

b)

fund

c)

bond

d)

advance

24.

A tax charged by the state on the retail price of an item.

a)

Income tax

b)

Sales tax

c)

Property tax

d)

Online banking

25.

Amount of money borrowed, loaned or invested NOT including interest.

a)

interest

b)

tax

c)

principle

d)

principal

26.

To take money out of an account.

a)

interest

b)

savings account

c)

withdraw

d)

tax

27.

When you spend more money than is available in an account

a)

overdraft

b)

debt

c)

saving

d)

borrowing

28.

Banking via the computer by use of the internet

a)

offline banking

b)

online banking

c)

line banking

d)

banking

29.

A budget is

a)

reserve

b)

a plan for spending

c)

a plan for spending and saving

d)

none of the above

30.

The amount of money you EARN from having money in a savings account is called

a)

insurance

b)

fees

c)

interest

d)

principal

31.

Which of the following allows individuals to borrow against their home's value to finance major expenses?

a)

Home equity loan

b)

Restructuring loan

c)

Mortgage loan

d)

Refinancing loan

32.

Joint checking account is for two or more account holders.

a)

True

b)

False

33.

A line of credit issued to customers to cover checks or debits exceeding the amount in their account?

a)

Automated teller machine

b)

Cash flow budgeting

c)

Overdraft protection

d)

Debt restructuring

34.

When someone is looking for a new job or transitioning between jobs. It's always present to some degree in an economy.

a)

Structural Unemployment

b)

Seasonal unemployment

c)

Cyclical unemployment

d)

Frictional unemployment

35.

This occurs when people lose their jobs due to weather-related reasons, such as seasonal work at ski resorts.

a)

Seasonal unemployment

b)

Cyclical unemployment

c)

Frictional unemployment

d)

Technological unemployment

36.

When advancement in technology eliminates certain jobs. Ex. Fast-food restaurant cashiers are being replaced by kiosks. What type of unemployment is this?

a)

Seasonal unemployment

b)

Cyclical unemployment

c)

Frictional unemployment

d)

Technological unemployment