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Financial Literacy Assessment #1 Flashcards | StudBud
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Financial Literacy Assessment #1
Financial Literacy Assessment #1
15 terms
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StudBud Administration
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A #finance #quiz to assess student understanding of #bank accounts and #spending.
Flashcards
15 cards
F
Practice quiz
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Host live
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Questions
15
Answers
1
Your money is safe from theft, loss, and fire when deposited into a bank account
True
False
2
A financial institution/s where one must become a member in order to open an account
Bank
Thrift
Both A & B
Credit Union
3
Which institution offers extra financial service like investment & stock market opportunities?
Both A & B
Credit Unions
Thrifts
Banks
4
Piece of paper that you give to the bank teller with how much money you are putting into bank
Deposit
Balance
Deposit Slip
Overdraft
5
An institution/s where profit is one major goal.
Bank
Credit Union
Thrift
Both A & B
6
Which institutions would offer savings & checking accounts also provide various types of loans?
All of the Above
Thrifts & Credit Unions
Credit Unions & Banks
Bank & Thrifts
7
Using a bank costs more than using a check cashing service
False
True
8
Most of this institution’s business is centered on providing home loans
Thrift
Both A & B
Bank
Credit Union
9
Charges imposed by financial institutions for reasons like bouncing checks or monthly charges
Balance
Deposit Slip
Fees
Deposit
10
Money you add to your account
Deposit Slip
Deposit
Fees
Overdraft
11
FDIC insures your money so that if a bank goes broke, you'll still have access to your money
False
True
12
Amount of money you have in the bank at a given time
Fee
Deposit Slip
Deposit
Balance
13
Negative balance on an account that occurs when too much money is withdrawn
Overdraft
Balance
Fees
Deposit
14
Having a relationship with a bank helps establish a financial history, which helps get a loan.
False
True
15
Direct deposit is when you go to the bank branch and deposit your money
True
False
