WorksheetsPersonal Finance SBA 2 Review
Total questions: 20
Worksheet time: 10mins
1. Which of the following are examples of a financial institution?
A. Banks
B. Individual retirement account (IRA)
C. Mortgage lenders
D. 401(k)
2. Kari wants an account that earns interest like a savings account but allows unlimited withdrawals like a checking account. Which should she get?
A. Money market account
B. Foreign exchange account
C. Certificate of deposit
D. 401(k)
3. Savings accounts are designed to:
A. Spend money immediately
B. Store money not needed right away and pay interest
C. Earn no interest but allow unlimited spending
D. Store money only for emergencies
4. Certificates of deposit are best suited for money you don’t want to touch.
A. True
B. False
C. Only for short-term savings
D. Only for investment accounts
5. Which is a function of credit card companies?
A. Decide the benefits, fees, and rewards of the credit card
B. Manage investor accounts
C. Become responsible for injury and death
D. Print currency
6. Which of the following is linked to a checking or savings account?
A. Debit card
B. Credit card
C. Money market card
D. Cashier’s card
7. Which of these are considered deposit accounts?
A. Checking account
B. Money market account
C. Certificate of deposit
D. Mortgage lender
8. Which bank service is used to establish a loyalty program?
A. Payment processing
B. Investment products
C. Merchant services
D. Global trade services
9. Which loan is used to purchase a home?
A. Home equity loan
B. Personal loan
C. Mortgage
D. Auto loan
10. Retail banks oversee currency movement and creation.
A. True
B. False
C. Only in commercial banks
D. Only in investment banks
11. Which is an ownership share in a company?
A. 401(k)
B. Stock
C. Bond
D. IRA
12. Which allows individuals to move money between accounts?
A. Money orders
B. Cash
C. Wire transfers
D. Safe deposit boxes
13. Which bank sets interest rates?
A. Central bank
B. Retail bank
C. Commercial bank
D. Investment bank
14. Which refers to property consisting of land or buildings?
A. IRA
B. 401(k)
C. Real estate
D. Porto facto
15. Which financial institution is best for a real estate loan?
A. Mortgage lender
B. Commercial bank
C. Credit union
D. Insurance company
A. Credit union
B. Mortgage lender
C. Commercial bank
D. Insurance company
16. Which is the correct first step of a personal investment plan?
A. Set financial goals
B. Build a portfolio
C. Research investment options
D. Monitor investments
17. Any individual can apply for an IRA.
B. False
A. True
C. Only people over 50
D. Only employees with a company plan
18. Which banks provide products and services to individual customers?
A. Retail banks
B. Commercial banks
C. Insurance companies
D. Central banks
A. Central banks
B. Commercial banks
C. Insurance companies
D. Retail banks
19. Which is a type of banking service?
A. Foreign currency exchange
B. Roth 401(k)
C. Stock market purchase
D. Mutual fund
20. Which is a not-for-profit, member-owned financial institution?
A. Mortgage lender
B. Credit union
C. Retail bank
D. Insurance company
