JA Biztown Banking Understanding Check

A __________ is an account that earns interest.

• checking account
• savings account

A citizen can write a _______which takes money directly from their checking account.

• debit card
• credit card
• interest
• check

When somebody takes out a loan from the bank, they must pay back the amount they borrowed plus _______.

• interest
• credit
• debit
• tax

A card owner has to pay interest when he or she uses their _______ if it is not paid back in a timely manner.

• credit card
• debit card

Which is true about a debit card?

• It is a loan from the bank and requires the owner to pay interest.
• It is the same as a credit card.
• It electronically makes purchases from a checking account.
• It is a written order to pay money from a checking account.

What is an advantage of using a credit card?

• They are convenient.
• The owner does not have to pay interest.
• You are paying with your own money.
• Money comes from your checking account.

A credit card is using the banks money and debit card is using your own money.

• True

• False

What are the three main services a bank provides for people.

• Checking Accounts, Savings Accounts, and

  Free lollipops

• Checking Accounts, Savings Accounts, and Free cash

• Checking Accounts, Savings Accounts, and Checks

• Checking Accounts, Savings Accounts, and Loans