NGPF Savings Account

Quiz
•
Social Studies
•
12th Grade
•
Hard
Standards-aligned
John Robinson
FREE Resource
25 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Many banks pay interest on
the money you deposit into your savings account
the money you deposit into your checking account
the money you put in the stock market
banks don't pay interest
Tags
EPF.MCM.2.1
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the primary purpose of a savings account?
To earn interest on deposited funds
To invest in stocks
To pay monthly bills
To store digital currencies
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a common feature of savings accounts?
High liquidity
High risk
High interest rates
High fees
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a typical benefit of having a savings account?
Earning interest on deposits
Unlimited withdrawals
Access to credit
High transaction fees
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which type of account is generally used for everyday transactions?
Checking account
Savings account
Retirement account
Investment account
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the usual consequence of withdrawing from a savings account too frequently?
Penalty fees
Higher interest rates
Increased credit score
Tax benefits
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is a reason to open a savings account?
To save for future expenses
To avoid taxes
To invest in real estate
To pay off loans
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