{{asɛmtiNe Ɔkyerɛwfo}} | Nhomakorabea | Nneɛma a ɛma wotumi yɛ ade

1

The list shows ways people interact with businesses and organizations.
I. Naomi deposits her paycheck into a savings account.
II. A bank lends Carlos money to buy a used car.
III. A grocery store sells fruit to customers.
IV. A credit union allows members to withdraw money from accounts.
Which statements describe services of financial institutions?

Statements I, II, and IV only

Statements I and III only

Statements II and III only

Statements I, II, III, and IV

1

A bank gives Malik’s family $3,000 to help pay for home repairs. Malik’s family agrees to pay the money back over time.
Which statement correctly describes the situation?

Malik’s family is lending money to the bank.

The bank is lending money to Malik’s family.

Malik’s family is donating money to the bank.

The bank is spending Malik’s family’s savings.

1

Which of these is not a basic purpose of a financial institution?

Keeping money safe in accounts

Lending money that must be repaid

Allowing customers to deposit and withdraw money

Guaranteeing that customers will earn a profit

1

Jada says, “A financial institution is the same as a store because people use money there.”
Which statement best explains why Jada is incorrect?

A store helps customers borrow money, but a financial institution only sells goods.

A store keeps money safe for customers, but a financial institution sells food.

A financial institution helps people manage money, while a store sells goods or services.

A financial institution decides what customers buy, while a store decides where

1

Elena earns money by walking dogs after school. She wants to put some of her money in a safe place and later take out part of it to buy supplies.
Which statement best describes how a financial institution can help Elena?

It can keep her money safe in an account and allow her to withdraw money later.

It can choose which dogs Elena should walk each week.

It can guarantee Elena will earn the same amount of money every day.

It can buy the supplies for Elena without using her money.

4.10E Financial Institution Assessment

4.10E Financial Institution Assessment

A bank gives Malik’s family $3,000 to help pay for home repairs. Malik’s family agrees to pay the money back over time.
Which statement correctly describes the situation?

Which of these is not a basic purpose of a financial institution?

Jada says, “A financial institution is the same as a store because people use money there.”
Which statement best explains why Jada is incorrect?

Elena earns money by walking dogs after school. She wants to put some of her money in a safe place and later take out part of it to buy supplies.
Which statement best describes how a financial institution can help Elena?

A bank gives Malik’s family $3,000 to help pay for home repairs. Malik’s family agrees to pay the money back over time.
Which statement correctly describes the situation?

Which of these is not a basic purpose of a financial institution?

Jada says, “A financial institution is the same as a store because people use money there.”
Which statement best explains why Jada is incorrect?

Elena earns money by walking dogs after school. She wants to put some of her money in a safe place and later take out part of it to buy supplies.
Which statement best describes how a financial institution can help Elena?

4.10E Financial Institution Assessment

4.10E Financial Institution Assessment

A bank gives Malik’s family $3,000 to help pay for home repairs. Malik’s family agrees to pay the money back over time.Which statement correctly describes the situation?

Which of these is not a basic purpose of a financial institution?

Jada says, “A financial institution is the same as a store because people use money there.”Which statement best explains why Jada is incorrect?

Elena earns money by walking dogs after school. She wants to put some of her money in a safe place and later take out part of it to buy supplies.Which statement best describes how a financial institution can help Elena?

A bank gives Malik’s family $3,000 to help pay for home repairs. Malik’s family agrees to pay the money back over time.Which statement correctly describes the situation?

Which of these is not a basic purpose of a financial institution?

Jada says, “A financial institution is the same as a store because people use money there.”Which statement best explains why Jada is incorrect?

Elena earns money by walking dogs after school. She wants to put some of her money in a safe place and later take out part of it to buy supplies.Which statement best describes how a financial institution can help Elena?

A bank gives Malik’s family $3,000 to help pay for home repairs. Malik’s family agrees to pay the money back over time.
Which statement correctly describes the situation?

Jada says, “A financial institution is the same as a store because people use money there.”
Which statement best explains why Jada is incorrect?

Elena earns money by walking dogs after school. She wants to put some of her money in a safe place and later take out part of it to buy supplies.
Which statement best describes how a financial institution can help Elena?

A bank gives Malik’s family $3,000 to help pay for home repairs. Malik’s family agrees to pay the money back over time.
Which statement correctly describes the situation?

Jada says, “A financial institution is the same as a store because people use money there.”
Which statement best explains why Jada is incorrect?

Elena earns money by walking dogs after school. She wants to put some of her money in a safe place and later take out part of it to buy supplies.
Which statement best describes how a financial institution can help Elena?