Savings vs Checking Accounts Quiz

Savings vs Checking Accounts Quiz

6th Grade

5 Qs

quiz-placeholder

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Savings vs Checking Accounts Quiz

Savings vs Checking Accounts Quiz

Assessment

Quiz

Financial Education

6th Grade

Hard

Created by

Fallon Parker

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of account is best for making everyday purchases and paying bills?

Savings account

Checking account

Retirement account

Investment account

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of a savings account?

To invest in stocks

To save money for future needs

To pay monthly bills

To borrow money

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might someone choose to keep most of their money in a savings account instead of a checking account?

To avoid paying bills

To earn more interest and save for future goals

To spend money quickly

To get a loan

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you need to pay for groceries and gas regularly, which account would be more helpful and why?

Savings account, because it earns interest

Checking account, because it allows easy access for spending

Investment account, because it grows money

Loan account, because it provides extra cash

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Imagine you want to save $500 for a school trip in one year. How could you use both a checking and a savings account to reach your goal?

Keep all the money in checking and spend as needed

Deposit money into savings regularly and transfer to checking when needed

Only use a credit card

Borrow money from friends