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Worksheets

Banking Products & Services

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

What is the amount paid for an insurance policy called?

a)

Premium

b)

Deductible

c)

Copayment

d)

Out-of-pocket maximum

2.

What type of financial institution handles deposit accounts, personal loans and mortgage lending?

a)

Credit Unions

b)

Savings & Loan Associations

c)

Investment Banks

d)

Payday Lenders

3.

Electronic movement of money from one account to another.

a)

Electronic Funds Transfer

b)

Wire Transfer

c)

Direct Deposit

d)

Mobile Payment

4.

What are financial instruments with ownership rights, debt rights, or rights to buy, sell or trade, such as stocks and bonds called?

a)

Commodities

b)

Securities

c)

Derivatives

d)

Currencies

5.

Allows individuals to have their paycheck or other payments deposited directly into their account.

a)

Direct Deposits

b)

Wire Transfers

c)

Cash Payments

d)

Mobile Payments

6.

What type of company provides financial coverage to protect individuals or organizations against possible adverse events in exchange for premium payments?

a)

Insurance Companies

b)

Investment Firms

c)

Real Estate Agencies

d)

Consulting Services

7.

A ________ is a secure means of storing money while earning interest.

a)

Checking Account

b)

Savings Account

c)

Investment Account

d)

Certificate of Deposit

8.

Line of credit issued to customers to cover checks or debits exceeding the amount in their account.

a)

Overdraft Protection

b)

Credit Card

c)

Personal Loan

d)

Savings Account

9.

A ________ is a secure means of storing money in which individuals or business can deposit or withdraw money as needed.

a)

Savings Account

b)

Checking Account

c)

Money Market Account

d)

Certificate of Deposit

10.

Receive, transfer and lend money to individuals, businesses and government.

a)

Investment Banks

b)

Commercial Banks

c)

Credit Unions

d)

Savings and Loans Associations

11.

A ________ is a form of payment in which customers borrow money from a financial institution up to a certain limit, with added interest.

a)

Debit Card

b)

Credit Card

c)

Prepaid Card

d)

Cash Card

12.

Electronic banking systems allowing customers to conduct financial transactions via the Internet.

a)

Online Banking

b)

Mobile Banking

c)

ATM Services

d)

Digital Wallets

13.

A ________ is money borrowed for business reasons; to be repaid within a specific time frame and with added interest.

a)

Personal Loan

b)

Business Loan

c)

Home Mortgage

d)

Credit Card

14.

Term for: 'Allows customers to pay bills or transfer money between accounts over the phone.'

a)

Pay-by-Phone System

b)

Mobile Banking App

c)

Online Payment Portal

d)

Telephone Bill Service

15.

Organizations which accept deposits and provide loans.

a)

Depository Financial Institutions

b)

Investment Firms

c)

Insurance Companies

d)

Credit Unions

16.

Electronic banking terminal which allows customers to complete basic transactions, such as deposits or withdrawals.

a)

Automated Teller Machine

b)

Point of Sale Terminal

c)

Online Banking Portal

d)

Mobile Payment App

17.

What type of firm assists individuals in buying and selling securities among investors?

a)

Investment Banks

b)

Brokerage Firms

c)

Hedge Funds

d)

Mutual Funds

18.

What is the term for the following definition? 'Provide financial services, such as checking and savings accounts, mortgages, credit cards and auto loans for individuals, families and small businesses.'

a)

Retail Banks

b)

Investment Banks

c)

Commercial Banks

d)

Central Banks

19.

Form on online payment where money is electronically withdrawn from the customer’s account.

a)

Electronic Checks

b)

Credit Card Transactions

c)

Wire Transfers

d)

Digital Wallet Payments

20.

Fill in the blank: ________ are companies engaged in the business of dealing with the monetary transactions of individual and commercial clients.

a)

Financial Institutions

b)

Retailers

c)

Manufacturers

d)

Service Providers