What are the four types of services offered by financial institutions for saving?
Personal Financial Security

Quiz
•
Social Studies
•
12th Grade
•
Hard
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Credit cards, Auto loans, Mortgages, Personal loans
Checking accounts, Money Markets, CDs, Personal Loans
Savings accounts, Mutual Funds, Stocks, Treasury Bonds
Checking accounts, Savings accounts, Money Markets, CDs
Answer explanation
The correct types of services offered by financial institutions for saving are checking accounts, savings accounts, money markets, and CDs.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the advantage of a Treasury Bond?
High risk, high payout
Low risk, fixed interest rates backed by the Fed
Low liquidity, fixed interest rates
High liquidity, variable interest rates
Answer explanation
The advantage of a Treasury Bond is low risk and fixed interest rates backed by the Fed.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main reason to maintain good credit?
Access to more loans with better terms and interest rates
Access to more credit cards with higher limits
Access to more personal loans with lower interest rates
Access to more mortgage options with longer terms
Answer explanation
Maintaining good credit provides access to more loans with better terms and interest rates.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the role of life insurance companies?
Provide financial protection for survivors of the insured
Provide loans for purchasing real estate
Provide investment opportunities in the stock market
Provide credit cards for managing credit-based transactions
Answer explanation
Life insurance companies provide financial protection for survivors of the insured.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the disadvantage of a 401K compared to an IRA?
No change in personal employment status
No matching contributions from the employer
Privately held and protected from loss
Tied to your employment status
Answer explanation
The disadvantage of a 401K compared to an IRA is that it is tied to your employment status, unlike an IRA which is not.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main disadvantage of borrowing money with bad credit?
Lower credit limits
Inability to access loans
Higher interest rates
Inability to access credit cards
Answer explanation
The main disadvantage of borrowing money with bad credit is the inability to access loans.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of the Federal Deposit Insurance Corporation (FDIC)?
To provide loans for home ownership
To manage pension funds for employees
To regulate the stock market
To provide deposit insurance to member banks
Answer explanation
The purpose of the FDIC is to provide deposit insurance to member banks, ensuring the safety of customers' deposits.
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