1) If you keep your money in a savings account, you will earn extra money because interest will be added. a) True b) False 2) Keeping your money under your bed is safer than keeping it in a bank, because banks can go out of business. a) True b) False 3) Which of the following is a place where it may not always be safe to store money? a) In a bank account b) In a building society account c) At home 4) When money is paid in to an account, this amount is a (1)____. When money is taken out, this amount is a (2)____. a) (1) debit (2) credit b) (1) credit (2) debit 5) To pay money into a current account using a bank card, where can you make a deposit? a) At an ATM only b) In a bank branch only c) At an ATM or in a bank branch 6) If you buy something by putting your debit card in a card reader and entering a number, what form of security is involved? a) Contactless card b) Chip and PIN c) Sort code 7) Where will you find the security number on a debit card? a) On the signature strip on the back of the card b) Across the front of the card c) On the signature strip on the front of the card 8) To set up a payment out of your account for the same amount each month, what should you use? a) Direct debit b) Standing order 9) When might you write a cheque? a) When you want to withdraw money b) When a shop accepts cash only c) When payment cannot be made by debit card 10) In what situation must you get in touch with your bank after checking a bank statement? a) If you are low on money b) If payments are being debited and credited as expected c) If you don’t recognise any of the payments into or out of the account

Unit 1 - Topic 4 Quiz

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