NGPF Savings Account

NGPF Savings Account

12th Grade

25 Qs

quiz-placeholder

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NGPF Savings Account

NGPF Savings Account

Assessment

Quiz

Social Studies

12th Grade

Hard

EPF.MCM.2.1

Standards-aligned

Created by

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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