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Banking Basics

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Questions and Answers

Which of the following is NOT a type of bank account?

Investment account

Credit account (correct)

Checking account

Savings account

What is the purpose of a routing number?

To verify account ownership

To calculate interest

To track transactions

To identify the bank branch (correct)

What does FDIC stand for?

Federal Department of Investment and Credit

Federal Deposit Insurance Corporation (correct)

Financial Disclosure and Investment Control

Financial Data and Information Center

Banking Basics

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Questions and Answers

Which of the following is NOT a type of bank account?

What is the purpose of a routing number?

What does FDIC stand for?

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