Date

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Name______________________________

Chapter 14 Finance Quiz: Financial

Institutions
1. What kind of financial institution is owned by its members?
2. What government agency insures each account in a federally
chartered bank for $250,000?
3. What does it mean when interest is compounded?
4. Why are payday loan centers considered problematic
financial institutions?
5. What is one benefit of a certificate of deposit (CD)?
6. What does it mean if an account is liquid?
7. Who endorses a check, the person who writes the check or
the person who cashes the check?
8. Which type of card deducts money directly from your bank
account, a credit card or a debit card?
9. List one type of deposit institution.
10. What is a minimum balance?
Bonus Questions (Optional)
11. Why is it important to reconcile your bank statements?
12. What is one kind of financial institution that exists to make
a profit?
13. What is Mr. Martinezs favorite band?