Banking vocab quiz
Quiz by Andrew Dahl
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
- Q1
You should carefully evaluate a financial institution before becoming a customer
false
true
30s - Q2
Members of a(n) __________ usually have a common bond, such as employment from the same company. They also have lower interest rates.
stock exchange
credit union
savings and load
commercial bank
30s - Q3
A process that accounts for the differences between a bank statement and a checkbook balance is called a(n) __________
bank reconciliation
brokers
issuers
teller
30s - Q4
You must grant your bank __________ for them to conduct automatic payments on your behalf
authorization
probate
reconciliation
30s - Q5
The FDIC will insure your bank account up to
25,000$
100,000$
250,000$
5,000$
30s - Q6
Most debit card __________ do not hold YOU responsible for stolen funds from your account
exchangers
issuers
brokers
teller
30s - Q7
Credit Cards differ from Debit cards because
Credit Cards are exactly the same as Debit Cards.
Credit Card charges are borrowed money and you have to pay a high interest rate to use.
Credit Card charges have overdraft protection.
Credit Card charges come out of your bank account.
30s - Q8
A rate of interest for a credit card cash withdrawal is lower than if you made a purchase with your credit card.
false
true
30s - Q9
Simple interest is interest calculated on the initial principal and is not added on the accumulated interest of previous periods of a deposit or loan
false
true
30s - Q10
A stop payment is a request made to a financial institution to instruct a bank to withhold payment on a check so it will not be processed.
true
false
30s - Q11
A direct deposit is the same as an automated payment
true
false
30s - Q12
forging a check is a form of
bouncing
reconciliation
acceptable banking practices
usury fraud
30s - Q13
a teller at a bank is
the process of transferring to accounts by direct deposit
a systems that "tells" you your account balances only
allows you to "tell"the bank who to ay and how much
a person that can conduct financial transactions for you
30s - Q14
What you owe in excess of what you have is
disposable income
debt
profit
a reconciliation process
30s