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

Savings vs Checking Accounts Quiz

Quiz
•
Financial Education
•
6th Grade
•
Hard
Fallon Parker
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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