Quiz  /  Commercial Banks Class 5 MCQ Questions With Answers

  • 1. 
    Which services is a bank likely to offer?

  • net deposit and balance
  • online banking and savings accounts
  • check writing and car wash
  • credit card and Tootsie Rolls

  • 2. 
    A direct deposit is when you take your paycheck directly to the bank after your receive it.

  • True
  • False

  • 3. 
    What do we call a fee that is collected for using someone's money?

  • Deposit
  • Interest
  • Loan
  • Check

  • 4. 
    When depositing money into an account, it is important to:

  • include your account number
  • swipe your credit card
  • thank the teller
  • sign your deposit ticket

  • 5. 
    The longer the money is saved, the better

  • True
  • False

  • 6. 
    All bank transactions should be recorded in the register

  • True
  • False

  • 7. 
    The higher the interest rate, the better

  • True
  • False

  • 8. 
    Which one of the following are financial institutions?

  • bank and credit union
  • library and hospital
  • school and museum
  • Starbucks and Wal-Mart

  • 9. 
    The more you add to yours savings, the better

  • True
  • False

  • 10. 
    You can continue to write checks as long as you have check in your checkbook.

  • True
  • False

  • 11. 
    Banks offer different kinds of accounts because:

  • Different customers have different needs
  • They have to by law
  • It seems like the fun thing to do
  • They are greedy

  • 12. 
    Credit cards and debit cards are essentially the same thing.

  • True
  • False

  • 13. 
    The lower the interest rate, the better.

  • True
  • False

  • 14. 
    The more you add to your savings, the worse off you will be.

  • True
  • False

  • 15. 
    The shorter the money is saved, the better.

  • True
  • False

  • 16. 
    What do we call the amount left over from your paycheck after taxes and deductions?

  • balance
  • gross balance
  • transaction
  • net pay
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