What type of banking institution is owned by members and offers lower interest rates and fees?
Banking Day 1 (pg 1-2)

Quiz
•
Financial Education
•
12th Grade
•
Hard
Julie Lupchinsky
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Commercial Banks
Credit Union
Internet/Virtual Commercial Banks
Mutual Savings Banks
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of Internet/Virtual Commercial Banks?
High overhead costs
Physical locations
Available 24/7
Notary services
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you compare when selecting a depository institution?
Location
Rates and fees
Number of ATMs
Number of branches
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a benefit of using a Credit Union?
Open to all
Higher savings return
Widest range of services
Available 24/7
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key feature of a debit card?
It allows you to earn interest.
It uses a PIN and is linked to accounts.
It provides overdraft protection.
It is only used for online purchases.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a feature of online banking?
It is only available at select institutions.
It requires visiting a bank branch.
It allows paying bills through EFT.
It does not support electronic transfers.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does an ATM allow you to do?
Deposit checks only.
Withdraw cash from linked accounts.
Transfer funds internationally.
Open new bank accounts.
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