6. What is the minimum deposit requirement for opening a basic savings account?
a) $100
b) $500
c) $1,000
d) No minimum requirement
7. Which of the following is considered a time deposit?
a) Checking account
b) Money market account
c) Saving account
d) Fixed deposit
8. Which agency regulates and supervises banks in the United States?
a) Securities and Exchange Commission (SEC)
b) Federal Reserve System (FRS)
c) Federal Deposit Insurance Corporation (FDIC)
d) Office of the Comptroller of the Currency (OCC)
9. What is the term used for the interest rate offered by banks on deposits?
a) Inflation rate
b) Exchange rate
c) Annual percentage rate (APR)
d) Annual percentage yield (APY)
10. Which of the following is not a method of depositing money into a bank account?
a) Cash deposit at the branch
b) Mobile banking app transfer
c) ATM deposit
d) PayPal transfer
