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EverFi Banking Basics

Authored by Mike Driscoll

Business

12th Grade

Used 17+ times

EverFi Banking Basics
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This type of bank has a physical building and is what you are most likely used to seeing as you drive around the city.

Brick and Mortar Banks

Credit Unions

Internet Banks

Cash Advance / Payday Loans

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

This type of bank is available online only. All services are done through an app or website.

Internet Banks

Credit Union

Brick and Mortar

Cash Advance / Payday Loan

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

These are non-profit institutions that are co-owned by members and typically offer the same services as traditional banks but with better rates and offers. You generally must belong to a specific group to qualify (military, teacher, etc.)

Credit Union

Brick and Mortar

Internet Bank

Payday /Cash Advance

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A place people who don't have bank accounts can go to cash checks or borrow money. They usually charge HIGH fees and HIGH interest.

Cash Advance / Payday Loans

Internet Bank

Brick and Mortar Bank

Credit Union

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A type of account used for everyday spending and uses checks / debit cards

Checking Accounts

Saving Accounts

Brokerage Accounts

Bank Accounts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A type of account used to store money for longer term goals and earns interest over time

Savings Account

Checking Account

Brokerage Account

Bank Account

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The $ banks pay you while your money sits in a savings account is known as...

Interest

Insurance

Inflation

Taxes

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