WorksheetsBanking Vocab Quiz
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
A deposit account held at a financial institution that allows withdrawals and deposits. Very liquid and can be accessed using checks, automated teller machines (ATMs), and electronic debits, among other methods. Allows for numerous withdrawals.
a)
Checking Account
b)
Deposit
c)
Withdrawal
d)
Credit Union
e)
Bank Statement
2.
Money you put into your account
a)
Deposit
b)
Checking Account
c)
Withdrawal
d)
ATM
e)
Bank Statement
3.
Taking money out of an account.
a)
Withdrawal
b)
Checking Account
c)
Deposit
d)
Credit Union
e)
Bank Statement
4.
Nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
a)
Credit Union
b)
Bank
c)
Deposit
d)
Checking Account
e)
Bank Statement
5.
A monthly document prepared by your financial institution which shows all of the transactions related to your account
a)
Bank Statement
b)
Checking Account
c)
Deposit
d)
Withdrawal
e)
Credit Union
6.
Basic account type that lets you deposit money safely with a bank. It ensures safety and access to your money whenever you need. You can withdraw your funds, either digitally or in person, at any point in time. This account earns interest.
a)
Savings Account
b)
Checking Account
c)
Deposit
d)
Emergency Fund
e)
Overdraft Fee
7.
A fee charged to your account when it lacks the funds to cover a withdrawal, but the bank allows the transaction to go through anyway
a)
Overdraft Fee
b)
Checking Account
c)
Deposit
d)
Withdrawal
e)
Credit Union
8.
This machine allows a person to manage a bank account holder's funds through actions such as withdrawing or depositing money, viewing account balances, etc.
a)
ATM
b)
Bank
c)
Direct Deposit
d)
Withdrawal
e)
Credit Union
9.
A term used to describe a person who does not use or does not have access to traditional financial services
a)
Unbanked
b)
Checking Account
c)
Deposit
d)
Withdrawal
e)
Credit Union
10.
A card that is loaded with a specific cash amount before you use it
a)
Prepaid Card
b)
Checking Account
c)
Debit Card
d)
Credit Card
e)
Payroll Card
11.
A prepaid card arranged by an employer for the purpose of paying its employees' wages or salary. An employer arranges with a bank or other financial institution to pay its employees with a payroll card
a)
Payroll Card
b)
Checking Account
c)
Deposit
d)
Withdrawal
e)
Credit Union
12.
An easy budgeting method that can help you to manage your money effectively, simply and sustainably.
a)
50/30/20 Rule
b)
Saving Goal
c)
Pay Yourself First
d)
Unbanked
e)
Saving Account
13.
Putting a portion of income into savings before spending on non necessity items.
a)
Pay Yourself First
b)
Checking Account
c)
Deposit
d)
Withdrawal
e)
Credit Union
14.
Personal objectives you set for how you'll save and spend money
a)
Saving Goal
b)
Emergency Fund
c)
Pay Yourself First
d)
Direct Deposit
e)
50/30/20 Rule
15.
A general increase in prices and fall in the purchasing value of money.
a)
Inflation
b)
Checking Account
c)
Deposit
d)
Withdrawal
e)
Credit Union
16.
Financial safety net for future mishaps and/or unexpected expenses, they should typically have three to six months' worth of expenses.
a)
Emergency Fund
b)
Checking Account
c)
Saving Goal
d)
Savings Account
e)
Credit Union
17.
The act of making financial transactions on a mobile device (cell phone, tablet, etc.).
a)
Mobile/Online Banking
b)
Checking Account
c)
Deposit
d)
Withdrawal
e)
Credit Union
18.
A secure electronic service that allows customers to pay bills without having to write checks and mail them
a)
Online Bill Pay
b)
ATM
c)
Deposit
d)
Overdraft Fee
e)
Bank Statement
19.
Electronic transfer of a payment directly from the account of the payer to the recipient's account. Most commonly done with a person's paycheck from their employer.
a)
Direct Deposit
b)
Checking Account
c)
Deposit
d)
Withdrawal
e)
Credit Union
20.
When you earn interest on both the money you've saved and the interest you earn.
a)
Compound Interest
b)
Simple Interest
c)
Inflation
d)
Withdrawal
e)
Pay Yourself First
100 %
