Savings
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
John Robinson
FREE Resource
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15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are savings accounts best for?
Spending money frequently.
Stashing cash.
Online shopping.
Direct deposit of paychecks.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a characteristic of savings accounts?
They are used for regular transactions like checking accounts
They typically have a monthly limit on withdrawals without a fee
They have no way to earn interest
They are primarily used for everyday spending
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What type of fee could be incurred for making too many transactions from a savings account?
Out-of-network ATM fee
Excessive transactions fee
Overdraft fee
Wire transfer fee
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the primary purpose of a savings account?
To earn interest on deposited funds
To pay bills online
To invest in stocks
To use for daily expenses
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a benefit of having a savings account?
Unlimited withdrawals
High interest rates
Safety of funds
Instant access to cash
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a common feature of savings accounts?
They offer check-writing capabilities
They provide a debit card for purchases
They have a limit on the number of withdrawals per month
They charge high fees for deposits
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Why might someone choose a savings account over a checking account?
For higher interest rates
For easier access to funds
For more frequent transactions
For lower fees
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