BizTown Financial Literacy test review

Question 1

9. Find the answer that ends this sentence INCORRECTLY: Banks offer different kinds of accounts

Accepted Answer

c. because the law tells them they have to.

Question 2

6. All bank transactions should be recorded in the register. T F

Accepted Answer

TRUE

Question 3

2. Which SERVICES is a bank likely to offer?

Accepted Answer

b. savings account, c. online banking

Question 4

Sample Question #2 What town is our BizTown facility located in that we will be going to?

Accepted Answer

Davenport

Question 5

5. You can continue to WRITE CHECKS as long as you have checks in your checkbook.

Accepted Answer

FALSE

Question 6

10. The three most important things to remember about SAVING are:

Accepted Answer

d. the more you save, the more you earn., b. the higher the interest rate, the better., c. the longer money is saved, the better.

Question 7

3. When DEPOSITING money into an account, it is important to ALWAYS:

Accepted Answer

a. include your account number

Question 8

1. Which of the following are FINANCIAL INSTITUTIONS? Be careful! There might be more than one!

Accepted Answer

c. credit union, a. bank

Question 9

Sample Question # 1. BizTown teaches students about Financial Literacy.

Accepted Answer

TRUE

Question 10

7. A direct deposit is when YOU take your paycheck directly to the bank after you receive it.

Accepted Answer

FALSE

Question 11

8. Credit cards and debit cards are essentially the SAME thing.

Accepted Answer

FALSE

Question 12

4. The amount left over from your paycheck after taxes and deductions is called:

Accepted Answer

d. net pay

Questions 12