PERIOD 1-F/L QUIZ- UNIT 3-FINANCIAL INSTITUTIONS
Quiz by Teresa
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33 questions
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- Q1It's when someone opens new accounts, credit cards or loans in your name.Finance fraud30sEditDelete
- Q2It's when someone commits a crime while assuming your identity.Criminal Fraud30sEditDelete
- Q3A crime that involves someone pretending to be another person by stealin your ID in order to steal money or obtain benefits.Identity theft30sEditDelete
- Q4An electronic warning placed on your accounts to monitor for suspicious financial activity.Fraud Alert30sEditDelete
- Q5Equifax, Experian and TransUnion.Credit reporting companies30sEditDelete
- Q6An account at a depository financial institution that is designed to hold money and earns interest.Savings account30sEditDelete
- Q7A no-frills checking account that offers a low minimum opening deposit with reduced fees and no interest bearing.Basic Checking Account30sEditDelete
- Q8A type of savings account that pays a higher interest rate because the financial institution invests the money you deposit.Money market account30sEditDelete
- Q9A savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return.Certificate of Deposit (CD)30sEditDelete
- Q10It allows customers to complete certain transactions from a secured Internet site by using a username and password from any place in the world with Internet access.Online banking30sEditDelete
- Q11A government insurance agency that insures customers' deposits if a bank fails up to $250,000 per depositor.FDIC (Federal Deposit Insurance Corporation)30sEditDelete
- Q12It focus on things you want to achieve in life.Personal goal30sEditDelete
- Q13It focus on achieving accomplishments agreed upon by the family and working as a team to collectively identify and establish goals for the family unit.Family goal30sEditDelete
- Q14It is a workplace retirement account that's offered as an employee benefit. The account allows you to contribute a portion of your pre-tax paycheck to tax-deferred investments.401(k) plan30sEditDelete
- Q15Tax-deferred accounts to which wage earners can contribute an amount up to a yearly maximum.Individual Retirement Accounts (IRAs)30sEditDelete
- Q16They are Specific, Measurable, Attainable, Realistic and Timely.SMART goals30sEditDelete
- Q17A business that provides financial and monetary transactions.Financial Institution30sEditDelete
- Q18Institutions that provide financial and monetary transaction governed by federal and state laws and by banking regulations.Banking Financial Institutions30sEditDelete
- Q19They offer various banking services but do not have a banking license. Generally, these institutions are not allowed to take traditional demand deposits—readily available funds, such as those in checking or savings accounts—from the public.Non-Banking Financial Institutions30sEditDelete
- Q20A card issued by a bank from the checking account allowing the holder to transfer money electronically to another bank account when making a purchase.Debit card30sEditDelete