Financial Institutions Quiz

What guarantees the safety of money in banks and credit unions?

• The bank's private insurance

• The US Government

• The Federal Reserve

• The World Bank

Which type of account is mentioned as a service offered by financial institutions?

• Retirement accounts

• Checking accounts

• Brokerage accounts

• Cryptocurrency accounts

Which of the following is needed by a bank or credit union to verify your identity?

• Your favorite color

• Your name

• Your pet's name

• Your favorite food

What type of number can be used as an ID number?

• Social Security Number (SSN)

• Phone number

• Library card number

• Employee ID

Why is it important to know about ATM fees when opening an account?

• To avoid unexpected charges

• To get free movie tickets

• To receive a free credit card

• To earn interest on savings

Why is it important to know the minimum balance requirement?

• To avoid monthly fees or service charges

• To get a free credit card

• To receive a free gift

• To earn bonus points

What is a key question to ask about making deposits?

• What the options are for making a deposit

• If deposits come with free gifts

• If deposits are made in cash only

• If deposits require a password

What job does Dani have in the United States?

• Teacher

• Farmworker

• Engineer

• Chef

What is Dani unsure about regarding their paycheck?

• How to spend it all

• What to do with the cash

• How to save it

• How to invest it

What can Dani do even without a social security number?

• Open a bank account

• Apply for a credit card

• Get a driver's license

• Rent an apartment