Banking and Personal Finance Basics Quiz Test your knowledge of personal finance with these essential banking and finance questions. Explore topics like savings, loans, credit, investments, and more.
#1
Checking account
Certificate of deposit (CD)
Individual retirement account (IRA)
Money market account
#2
Annual Percentage Rate
Advanced Payment Requirement
Average Payment Ratio
Account Payment Record
#3
A type of checking account
A retirement savings plan sponsored by an employer
A high-yield savings account
A type of credit card
#4
To provide health insurance
To protect depositors against bank failures
To insure against home damage
To cover losses in the stock market
#5
To borrow money from the bank
To earn interest on deposited funds and save money for future expenses
To pay bills and make purchases
To invest in the stock market
#6
Interest rate
Service charge
Maintenance fee
Withdrawal fee
#7
To limit spending
To track income
To plan and manage finances
To calculate taxes
#8
Interest calculated only on the initial principal
Interest calculated on the initial principal plus the accumulated interest from previous periods
Interest paid in installments
Interest paid upfront
#9
To regulate and supervise banks
To provide loans to individuals
To manage national parks
To oversee the stock market
#10
Debit cards offer cashback rewards, while credit cards do not.
Debit cards withdraw funds directly from the linked bank account, while credit cards allow borrowing money up to a credit limit.
Credit cards require a PIN for transactions, while debit cards do not.
There is no difference; they function the same way.
#11
To calculate taxes owed
To determine credit card interest rates
To assess an individual's financial health and ability to repay debts
To determine eligibility for government assistance programs
#12
To provide insurance coverage for property damage
To save money for retirement
To borrow money to purchase real estate
To invest in the stock market
#13
Length of credit history
Number of recent credit applications
Types of credit used
Payment history
#14
To concentrate investments in a single asset
To reduce risk by spreading investments across different assets
To minimize taxes on investment returns
To maximize short-term gains
#15
To regulate and oversee financial markets and securities transactions
To provide insurance coverage for bank deposits
To manage the nation's money supply
To regulate and supervise banks
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