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Banking Basics: True or False

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Banking Basics: True or False

Yes or No

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Test your banking knowledge in minutes.

Created by

Baishali
Baishali
Canada

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Banking Basics: True or False
 

Banking Basics: True or FalseOnline version

Test your banking knowledge in minutes.

by Baishali
1

You can open a bank account only if you are over 21.

2

Banks earn revenue mainly from interest on loans and fees.

3

Banks require identification and a signature to open an account.

4

A savings account typically earns higher interest than a checking account.

5

A loan must be repaid only at the end of the term with no installments.

6

Checking accounts always have higher interest than savings accounts.

7

An ATM can only withdraw cash with a bank card; you can't check balance.

8

Banks pay you a guaranteed fixed 10% interest on all deposits.

9

A debit card lets you spend money directly from your bank account.

10

A bank account stores money securely and records deposits and withdrawals.

 
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