WorksheetsBanking and Finance Quiz 2 (Student Qs!)
Total questions: 10
Worksheet time: 5mins
Which bank employee acts as the "Bank's Accountant"?
FDIC
Financial Services Specialist
Wealth Advisor
Finance Manager
T-F? The FDIC covers up to $250,000 of your deposits in a bank account if something goes wrong.
True
False
What do you do when you get scammed and aren't sure where to turn?
Act immediately and contact the credit agencies for a credit freeze
When you get around to it, contact the credit agencies for a credit freeze
Email Mr. Godt to ask for help
Stop spending money immediately so the bank knows you're responsible and not a scammer
You have a yearly income of $85,000. Using the rule of thumb, what price range of home can you afford?
$170,000-$175,000
$170,000-$212,500
$85,000
Anything under $500,000
Jason wants to buy a house on sale for $100,000. What amount would his down payment be if he put down 20%? And after the down payment, how much would the loan actually be for?
$40,000 down and $60,000 loan
$80,000 down and $20,000 loan
$20,000 down and $100,000 loan
$20,000 down and $80,000 loan
You are 52 years old and want to invest, but have low risk tolerance. Would you be more likely then to purchase Stocks or Bonds?
Bonds
Stocks
What is inflation?
Decrease in general price level of goods and services
Decrease in bank branches
When money is offered by the FDIC to protect your accounts
General increase in prices for goods and services
What is one back office role in a bank?
Greeter
Loan Officer
Teller
Compliance Officer
What is one responsibility of owning a home?
Must pay for insurance
Must make mortgage payments until loan is paid off
Responsible for all repairs
All of these are responsibilities of owning a home!
What does the (K) stand for in 401(K)?
(Don't worry, this is a wildcard and won't be on the test ;)
Kiddie Tax
K-Percent Rule
K-Pop Demon Hunters
Doesn't really stand for anything, it comes from the section of the Revenue Act of 1978, which created 401(K)s..
