Banking Deposits Knowledge Quiz
Test your knowledge of banking deposit concepts, types, and best practices in this concise quiz. All questions are multiple choice or single choice.
Which of the following is considered a demand deposit?
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Checking account
Certificate of deposit
Money market fund
Treasury bond
Select all types of time deposits:
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Certificate of deposit (CD)
Savings account
Recurring deposit
Checking account
What is the main benefit of a savings account compared to a checking account?
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Higher interest rates
Unlimited withdrawals
No minimum balance
Access to loans
Which entity typically insures deposits in U.S. commercial banks?
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FDIC
Federal Reserve
SEC
Treasury Department
A certificate of deposit (CD) typically requires you to:
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Keep funds locked for a fixed period
Withdraw anytime without penalty
Pay monthly fees
Maintain a credit card
Which of these is NOT a feature of a money market deposit account?
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Typically higher interest than savings accounts
Limited check writing
Unlimited withdrawals
FDIC insurance
Which statement about deposit insurance is TRUE?
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It protects depositors if the bank fails
It guarantees investment returns
It covers unlimited amounts
It is optional for banks
Rate your confidence in identifying different types of deposit accounts.
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1
2
3
4
5
Which of the following is most likely to have withdrawal penalties?
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Certificate of deposit (CD)
Checking account
Basic savings account
Money market deposit account
Which of these is a benefit of direct deposit?
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Faster access to funds
Manual check deposits required
Higher fees
Slower transaction times
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