Banking Basics
2 plays • 10 players
A public kahoot
Questions (10)
1 - Quiz
What are the two main types of accounts at banks?
30 sec
Savings and Current Account
Savings Account and RD Account
Current Account and RD Account
RD Account and FD Account
2 - Quiz
Interest is a fee charged...
30 sec
by a bank for writing a cheque
by a borrower to a lender
by a bank for making a deposit
by a lender to a borrower
3 - Quiz
With an electronic transfer, money is transferred from one account to another without
30 sec
recordkeeping
overdraft protection
any cheque or cash involved
service charges
4 - Quiz
When your cheque clears the bank, it has
been processed and the money transferred out of your account
been inspected and determined to be free of forgery
been guaranteed for payment by federal deposit insurance
is eligible to be cashed at a credit union
30 sec
5 - Quiz
Simple interest is
30 sec
cannot be paid by credit unions
cannont be expressed as a percentage
is another name for compound interest
is paid only on the original principal
6 - Quiz
The current amount of money in your bank account is called the
30 sec
registered amount
balance
deposited amount
statement
7 - Quiz
You can use a debit card to
30 sec
accept a payroll deposit from your employer
write a cheque
access money in your savings account and transfer it
get overdraft protection
8 - Quiz
__________is a fee a bank charges you for having an account
service charge
overdraft fee
debit
credit
30 sec
9 - Quiz
If a savings account pays_____, interest is calculated on the principal and accumulated interest
60 sec
simple interest
compound interest
Interest
None of the above
10 - Quiz
Why should you keep your money in a bank?
You can't lose money
Money is protected against theft
ability to earn interest
All of the Above
30 sec