Banking Basics Quiz

Low or 0% interest rates offered for a specified period on credit cards

A program that gives rewards for use of or purchase from a company

Training for new employees or members to get started.

A method of depositing money directly into a bank account.

A maximum amount that can be paid on time.

The difference between interest earned on loans and interest paid on deposits.

Charges for maintaining bank accounts.

Money earned when processing credit/debit transactions.

A bank that provides services to businesses and individuals, including loans and accounts.

Banks use depositors' money to make loans.

Illegal act of stealing money or assets entrusted to you, often from a company or financial institution.

Strict rule where any instance of violating a specific policy, even accidentally, results in immediate and serious consequences.

Legal process where someone is formally accused of a crime and brought to court to face charges.

Modifications made to work environment or tasks to allow an employee with a disability to perform their job.

Confidential way for employees to report misconduct or wrongdoing without revealing their identity.

Employees are granted two weeks of paid vacation per year, requiring at least six consecutive days, and expiring at the end of the calendar year.

This section outlines policies concerning family and medical leave, military leave, jury duty, and funeral leave.

Employees are prohibited from accepting gifts or bribes. Gifts under $250 are permitted if they are not cash and are reasonable in context, such as food.

Benefits offered include employee checking accounts, checks, health insurance, worker's compensation, education, and training.

Any cash deposit requires supervisor approval. Not all transactions need approval, just cash deposits.

A financial institution similar to a bank but owned by its members. It offers loans, savings accounts, and checking accounts, but aims to benefit members rather than generate profit.

A bank branch that only exists online, with no physical location. It allows customers to access their accounts, transfer funds, and manage their finances online.

A type of bank account that earns interest on deposits. It provides a safe way to save money but has limits on withdrawals.

A bank account used for everyday transactions, such as depositing and withdrawing money to make payments.

Credit unions are member-owned and aim to benefit members, while banks are for-profit companies owned by shareholders. Both offer similar services.

Checking accounts give you more ways to use your money than other types of accounts, like savings accounts.

Different checking accounts offer various features, so choose one with the features you need.

Checking accounts are designed to offer quick and easy access to your money.

Because it gives you more flexibility to spend your money than other account types.

Consider what features are vital for your financial goals when choosing a checking account.