Financial Literacy Quiz Biz Kids Ep 502

What are items of value that a person or business owns called?

• Liabilities

• Assets

• Debts

• Capital

Which type of account allows depositors to write checks?

• Savings account

• Investment account

• Checking account

• Money market account

Which of the following is a type of financial institution that provides services such as accepting deposits, making business loans, and offering basic investment products?

• Commercial bank

• Credit union

• Investment bank

• Private bank

What organization insures deposits in the United States against bank failure?

• Federal Reserve

• FDIC

• Federal Trade Commission

• SEC

What does FDIC stand for?

• Financial Disclosure and Insurance Corporation

• Federal Department of Insurance and Commerce

• Federal Deposit Insurance Corporation

• Financial Depository and Investment Corporation

What is the central bank of the United States?

• World Bank

• Federal Reserve

• International Monetary Fund

• Bank of America

What is a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium?

• Investment

• Insurance

• Interest

• Dividends

What is the charge for the privilege of borrowing money, typically expressed as an annual percentage rate?

• Dividends

• Interest

• Capital gains

• Principal

What is the act of allocating resources, usually money, with the expectation of generating an income or profit?

• Save

• Spend

• Invest

• Donate

Which type of bank offers services to wealthy individuals and families?

• Retail bank

• Private bank

• Commercial bank

• Credit union