Banking Basics QuizVersion en ligne Test your knowledge on banking terms and concepts with this fun quiz! Keep playing to keep practicing your Banking Vocabulary. par Kristine Vester 1 A financial institution where you can keep your money safe. They are a business that is trying to make a profit and so they charge you for financial services. a ATM b Bank c Investment Firm d Credit Union 2 What is a place whose goal it is to make money? a Credit Union b Business c Government d Non-Profit 3 What type of bank is focused on making a profit? a Commercial bank b Savings Bank c Investment Bank d Credit Union 4 What is a non-profit organization owned by its members? a Credit Union b Commercial Bank c ATM d Investment Firm 5 What federal fund insures deposits in credit unions? a SIPC b FDIC c Federal Reserve d National Credit Union Share Insurance (NCUA) 6 What organization insures banks and protects deposits? a NCUA b FDIC (Federal Deposit Insurance Commission) c SIPC d Credit Union 7 What provides insurance for investment banks? a ATM b Securities Investor Protection Corporation c FDIC d NCUA 8 What does ATM stand for? a Automated Transfer Machine b Account Transfer Machine c Automatic Teller Machine d Automated Teller Method 9 What does it mean to take money out of your account? a Transfer b Deposit c Invest d Withdraw 10 What does it mean to put money in your account? a Transfer b Deposit c Invest d Withdraw 11 What is a person that makes a deposit (puts money in the bank)? a Loan officer b Bank teller c Depositor d Account holder 12 What is it called when your paycheck is deposited directly into the bank by your employer? a Paycheck Cashing b Direct Deposit c Wire Transfer d Bank Transfer 13 What is like a locker in the bank where you can keep valuable things safe? a Safety locker b Cash vault c Storage box d Safe deposit box 14 What is a record of your money in the bank, including savings and checking types? a Ledger b Statement c Balance d Account 15 What type of account is used for everyday transactions with a debit card or checks? a Money market account b Savings account c Investment account d Checking account 16 What is a plastic card that allows you to buy things directly from your checking account? a ATM card b Gift card c Debit card d Credit card 17 What card can be used to take money out of the ATM? a Debit card b Credit card c Bank card d ATM card 18 What is the 4 digit code you enter when using your debit card? a Security code b Transaction code c PIN number d Account number 19 What does it mean when you do not have enough money in your checking account? a Negative balance b Insufficient funds c Overdraft d Low funds 20 What is like a checking account that pays you interest on your deposits? a Certificate of deposit b Investment account c Money market account d Savings account 21 What is it called when a bank loans you money to cover a debit card payment? a Free checking b Savings account c Liquidity d Overdraft protection 22 What type of account is used to save money for the future? a U.S. Savings bond b Certificate of Deposit c Savings account d Checking 23 What is a bank that pays interest on savings called? a Investment bank b Checking bank c Credit union d Savings bank 24 What is a CD in banking terms? a Credit Deposit b Certificate of Deposit c Current Deposit d Cash Deposit 25 What do you receive when you loan money to the government? a Overdraft protection b U.S. Savings bond c Savings account d Free checking 26 What term describes money that can be accessed quickly? a Certificate of Deposit b Illiquidity c Savings account d Liquidity 27 What is the term for money that cannot be accessed quickly? a Liquidity b Savings account c Illiquidity d Checking 28 What is the process of giving or receiving money through checks called? a Withdrawing b Depositing c Checking d Savings 29 What is it called when a bank allows you to use checks for free? a Free checking b Overdraft protection c Liquidity d Savings account 30 What is the unique identifier on the top of a check? a Transaction number b Account number c Check number d Routing number
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