Banking Day 1 (pg 1-2)

Banking Day 1 (pg 1-2)

12th Grade

10 Qs

quiz-placeholder

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Banking Day 1 (pg 1-2)

Banking Day 1 (pg 1-2)

Assessment

Quiz

Financial Education

12th Grade

Hard

Created by

Julie Lupchinsky

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of banking institution is owned by members and offers lower interest rates and fees?

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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