Banking Scavenger Hunt Name___________________________
Go to CNN Money 101 to find the answers to the following questions.
1. The federal government insures bank accounts against loss up to $_____________.
2. The “catch” with putting your money in a CD is:
3. The average fee banks charge you to use another institution’s ATM is $__________
on top of the average $___________ the other institution will charge you to use its
ATM.
4. You can bank without a bank. Explain what this statement means and list three
examples.
5. A fall 2009 survey from Bankrate.com found the average balance required for a no-
fee, interest-bearing account was $____________ if you want to avoid monthly fees.
6. True/False All no-fee accounts limit the number of checks you may write and charge
high fees if you exceed that limit. (If the statement is false, re-write it to make it true.)
7. If you use ATMs frequently, why is it important to be sure your bank has ATMs
conveniently located near you?
8. True/False All banking customers get the same fees no matter what. Explain your
answer.
Print Form
9. If you cash out a CD before the maturity date, your will pay a penalty which is
typically __________________________.
10. Average bounced check fees range from $____________ to $__________.
11. True/False Deposits in credit unions are insured by the FDIC. (If the statement is
false, re-write it to make it true.)
12. List three differences between banks and credit unions?
13. True/False Both money markets accounts and money market deposit accounts are
insured against loss by the FDIC. (If the statement is false, re-write it to make it
true.)
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