Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments?

multiple businesses or investments

How often do you receive a bank statement about your accounts?

once a month, it might be electronic

When it comes to saving money, what is a good rule of thumb?

Put aside money for savings each month

Keep most of your savings in your checking account

Put aside money for savings each month

Choose the savings account with the lowest interest rate

Put anything you can't afford on your credit card

When do you have to sign a deposit slip?

When you deposit any amount of cash

When you deposit more than $100

When you deposit more than $10,000

When you spend more, or OVER, the amount you have in the bank

OVERDRAWN/INSUFFICIENT FUNDS/BOUNCED CHECK

Banking Awareness Class 12 MCQ Questions With Answers Quiz

6.

What is one difference between Banks and Credit Unions?

Banks have Checking accounts and Credit Unions have Savings Accounts

Banks are for profit. Credit Unions are Non-profit.

Banks can give loans and Credit Unions cannot

Credit Unions allow everyone to join and Banks are selective

1.

Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments?

2.

Which have higher interest rate: Certificates of Deposit (CD, aka time deposits) accounts or savings accounts?

3.

Each debit account offers a credit limit so you can have your bank account “minus”. True or false?

4.

How often do you receive a bank statement about your accounts?

5.

Suppose you put money in the bank for two years and the bank agrees to add 15%/year to your account. What amount will the bank give in the 2nd year?

6.

What is one difference between Banks and Credit Unions?

7.

The tools and strategies the Federal Reserve uses to stabilize the economy is called?

8.

How many Board of Governor members are there?

9.

What type of endorsement is the most secure?

10.

The drawer is the person writing check.

11.

How do financial institutions make most of their money?

12.

What is the name of a legal document that functions like cash?

13.

When it comes to saving money, what is a good rule of thumb?

14.

Which part of the check is the least important?

15.

How many federal reserve districts are there?

16.

Approximately how often does a financial institution send a bank statement through the mail?

17.

When do you have to sign a deposit slip?

18.

A financial institution usually requires that an individual write a check or pay in cash for monthly service fees.

19.

You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?

20.

Typically, a person must be a member of a credit union to use its financial services.

21.

An account you share with a family member

22.

When you spend more, or OVER, the amount you have in the bank

23.

The # assigned to your bank account

24.

Type of account that pays interest, no checks

25.

The LEAST AMOUNT of money you need to keep in your account so you don't get a fee.

26.

How many places are the check number written on a check?

27.

When your employer automatically deposits your paycheck into your bank account

28.

What is the amount of money required to be stay in an account?

29.

Bank machine you use to make transactions

30.

To sign the back of a check

Time

1. Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments?

2. Which have higher interest rate: Certificates of Deposit (CD, aka time deposits) accounts or savings accounts?

3. Each debit account offers a credit limit so you can have your bank account “minus”. True or false?

4. How often do you receive a bank statement about your accounts?

5. Suppose you put money in the bank for two years and the bank agrees to add 15%/year to your account. What amount will the bank give in the 2nd year?

6. What is one difference between Banks and Credit Unions?

7. The tools and strategies the Federal Reserve uses to stabilize the economy is called?

8. How many Board of Governor members are there?

9. What type of endorsement is the most secure?

10. The drawer is the person writing check.

11. How do financial institutions make most of their money?

12. What is the name of a legal document that functions like cash?

13. When it comes to saving money, what is a good rule of thumb?

14. Which part of the check is the least important?

15. How many federal reserve districts are there?

16. Approximately how often does a financial institution send a bank statement through the mail?

17. When do you have to sign a deposit slip?

18. A financial institution usually requires that an individual write a check or pay in cash for monthly service fees.

19. You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?

20. Typically, a person must be a member of a credit union to use its financial services.

21. An account you share with a family member

22. When you spend more, or OVER, the amount you have in the bank

23. The # assigned to your bank account

24. Type of account that pays interest, no checks

25. The LEAST AMOUNT of money you need to keep in your account so you don't get a fee.

26. How many places are the check number written on a check?

27. When your employer automatically deposits your paycheck into your bank account

28. What is the amount of money required to be stay in an account?

29. Bank machine you use to make transactions

30. To sign the back of a check

Time

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1.

Suppose you have some money. Is it safer to put your money into one business or investment, or to put your money into multiple businesses or investments?

2.

Which have higher interest rate: Certificates of Deposit (CD, aka time deposits) accounts or savings accounts?

3.

Each debit account offers a credit limit so you can have your bank account “minus”. True or false?

4.

How often do you receive a bank statement about your accounts?

5.

Suppose you put money in the bank for two years and the bank agrees to add 15%/year to your account. What amount will the bank give in the 2nd year?

6.

What is one difference between Banks and Credit Unions?

7.

The tools and strategies the Federal Reserve uses to stabilize the economy is called?

8.

How many Board of Governor members are there?

9.

What type of endorsement is the most secure?

10.

The drawer is the person writing check.

11.

How do financial institutions make most of their money?

12.

What is the name of a legal document that functions like cash?

13.

When it comes to saving money, what is a good rule of thumb?

14.

Which part of the check is the least important?

15.

How many federal reserve districts are there?

16.

Approximately how often does a financial institution send a bank statement through the mail?

17.

When do you have to sign a deposit slip?

18.

A financial institution usually requires that an individual write a check or pay in cash for monthly service fees.

19.

You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?

20.

Typically, a person must be a member of a credit union to use its financial services.

21.

An account you share with a family member

22.

When you spend more, or OVER, the amount you have in the bank

23.

The # assigned to your bank account

24.

Type of account that pays interest, no checks

25.

The LEAST AMOUNT of money you need to keep in your account so you don't get a fee.

26.

How many places are the check number written on a check?

27.

When your employer automatically deposits your paycheck into your bank account

28.

What is the amount of money required to be stay in an account?

29.

Bank machine you use to make transactions

30.

To sign the back of a check