Lesson 19 Quiz

Match the following

• Loan

• The amount of money a bank or financial institution pays a depositor for holding their money with the bank.

• Transaction

• An amount of money that is borrowed from a bank and paid back with interest.

• Interest

• When a sum of money is placed or kept in a bank account

• Deposit

• A financial exchange where you give something (money, goods, or services) to someone, and they give something of equal value back to you

Match the following

• Overdraft Fee

• Someone capable of making good decisions by researching a product before purchase

•  Informed Consumer

• A bank account used to save money that earns interest

• Withdrawal

• A bank fee you incur when you spend more money than you have available in your checking account

• Savings Account

• The act of taking money out of an account.

Match the following

• Checking Account

• An account at a bank that allows you to easily deposit and withdraw money for daily transactions

•  Emotional Appeal

• An advertising tactic to make consumers feel strongly toward a product or service.

• Financial Literacy

• Your knowledge and understanding of how to manage your money.

 For Taylor’s 15th birthday, their grandmother gave them a check for $100. Taylor took the check to the bank and had the $100 put in their checking account. What type of transaction did Taylor make?

• Deposit

• Withdrawal

• Load

Lola went out to lunch with her friends, but when she was about to pay, she realized that the restaurant only accepts cash. She used her debit card at the ATM to take out the $20 she needed for her meal. What type of transaction is this?

• Deposital

• Withdrawal

• Loan

Which of the following banking services will NOT have any interest earned or owed?

• Checking Account

• Savings Account

• Loans

 Which of the following is an example of an emotional appeal in an advertisement?

• A plain photo of a product in a magazine with the price next to it

• A social media advertisement with a celebrity endorsing a product

• A commercial with clips of sick animals who will receive a donation if you buy the product.

Which is an example of impulse buying?

• Going home and placing an online order for a pair of shoes you saw your friend wearing at school that day.

• 1. Saving up money over a few months to buy a video game you’ve been wanting for a long time.

• Buying your weekly groceries.

Which of the following would probably be the best product to purchase?

• A very inexpensive phone case that offers little protection

• A very expensive phone case that you’ve seen a lot of other people using

• A middle-priced phone case with good online reviews