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    Choose The Best Answer.: Unit I: Quiz - Page 1

    Uploaded by

    Oksana Pantiuchina
    The document is a 20 question quiz that tests knowledge of basic banking and financial concepts. It covers topics like checking and savings accounts, interest rates, fees, loans, and more. Students are asked multiple choice, fill in the blank, and true/false questions about terms and situations related to personal banking such as getting cash from an ATM, depositing a paycheck, endorsing a check, reconciling a bank statement, earning interest on a CD or savings account, and characteristics of different types of loans.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Choose The Best Answer.: Unit I: Quiz - Page 1

    Uploaded by

    Oksana Pantiuchina
    24 views4 pages
    The document is a 20 question quiz that tests knowledge of basic banking and financial concepts. It covers topics like checking and savings accounts, interest rates, fees, loans, and more. Students are asked multiple choice, fill in the blank, and true/false questions about terms and situations related to personal banking such as getting cash from an ATM, depositing a paycheck, endorsing a check, reconciling a bank statement, earning interest on a CD or savings account, and characteristics of different types of loans.

    Original Description:

    Questions for students about accounts

    Original Title

    Financial

    Copyright

    © © All Rights Reserved

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    The document is a 20 question quiz that tests knowledge of basic banking and financial concepts. It covers topics like checking and savings accounts, interest rates, fees, loans, and more. Students are asked multiple choice, fill in the blank, and true/false questions about terms and situations related to personal banking such as getting cash from an ATM, depositing a paycheck, endorsing a check, reconciling a bank statement, earning interest on a CD or savings account, and characteristics of different types of loans.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    24 views4 pages

    Choose The Best Answer.: Unit I: Quiz - Page 1

    Uploaded by

    Oksana Pantiuchina
    The document is a 20 question quiz that tests knowledge of basic banking and financial concepts. It covers topics like checking and savings accounts, interest rates, fees, loans, and more. Students are asked multiple choice, fill in the blank, and true/false questions about terms and situations related to personal banking such as getting cash from an ATM, depositing a paycheck, endorsing a check, reconciling a bank statement, earning interest on a CD or savings account, and characteristics of different types of loans.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 4

    Quiz

    Choose the best answer.

    1. Which account is best for paying bills and buying food?


    a. checking account
    b. savings account
    c. ATM

    2. Which account earns better interest?


    a. checking account
    b. savings account
    c. ATM

    3. Most banks require a of at least $25 for a savings


    account.
    a. monthly fee
    b. direct deposit
    c. minimum balance

    4. What protects you if you write a check for more than you have in your
    account?
    a. direct deposit
    b. a bounced check
    c. overdraft protection

    5. Which savings accounts do not permit withdrawals before a specified


    time?
    a. Certificate of Deposit (CD) and Individual Retirement Accounts
    (IRAs)
    b. Regular Savings Account and Money Market Accounts
    c. Special Savings Clubs and Money Market Accounts

    Unit I: Quiz - Page 1


    Quiz

    6. Which savings account earns a low interest rate?


    a. Money Market
    b. Regular Savings
    c. CD

    7. Which loans have lower interest rates?


    a. short term loans
    b. long term loans

    Fill in the blank with the best word.

    afford deposit endorse gross


    reconcile waive withdraw

    8. Marlo is going to Los Angeles for the weekend and needs some cash.
    She’s going to the bank tomorrow to some money.

    9. Eva was paid in cash for a cleaning job. She doesn’t like to carry cash
    in her purse, so she’s going to it at her credit union
    this afternoon.

    10. The bank may the monthly fee if you have direct
    deposit.

    11. Before you deposit or cash a check, you must the


    back of the check.

    Unit I: Quiz - Page 2


    Quiz

    12. When you receive your bank statement, it’s important to


    the information on the statement with your check
    register.

    13. Sam will $1800 this month, but after taxes and
    deductions, his take home pay will be $1350.

    14. If Mohammed doesn’t reduce his expenses, he will not be able to


    to get his own apartment.

    True or False?

    15. You need to pay a fee when you cash a check at your bank. T F

    16. Your money earns higher interest with a CD rather than a


    regular savings account. T F

    17. IRAs are good if you want to save for a vacation. T F

    18. A home loan is also called a mortgage. T F

    19. You can get a personal loan to buy a computer. T F

    20. A loan with low monthly payments will have the least total cost.
    T F

    Unit I: Quiz - Page 3


    Quiz

    Unit I: Quiz - Page 4

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