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Where to Keep Your Savings is a free printable Grade 3 to Grade 5 social studies worksheet on the advantages and disadvantages of savings options, aligned to C3 Framework indicator D2.Eco.9.3-5. It prints 8 questions with an answer key on its own sheet of paper, in 25 versions that each ask different questions, so no two students in the class work from the same page. Print it from the browser or download it as a PDF — no account, no email.

Set 20 of 25 · the same problems every time you open this link.

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Set 1 has all 25 in a single PDF. All 25 sets ask different questions.

Where to Keep Your Savings

D2.Eco.9.3-5

NameDate

Choose the best answer.

1.What is a certificate of deposit, or CD?
  • A.A card used to borrow money
  • B.A coin collection
  • C.Savings left in a bank for a set time to earn more interest
2.What is a disadvantage of a CD?
  • A.You usually pay a penalty if you take the money out early
  • B.It can only hold coins
  • C.It pays no interest at all
3.Ava wants to save for college, eight years away. Which option fits best?
  • A.A piggy bank under her bed
  • B.A savings account or college savings plan that earns interest
  • C.Spending it now and hoping
4.Which is one risk of keeping a lot of cash at home?
  • A.It earns interest every month
  • B.It could be destroyed in a fire
  • C.It grows faster than in a bank
5.Which option would you choose for money you may need next week?
  • A.A savings account you can take money out of at any time
  • B.A five-year CD
  • C.A college savings plan
6.Why are savings in most US banks safe even if the bank fails?
  • A.Banks never fail
  • B.The FDIC insures deposits up to a limit
  • C.The money is kept in each customer's house
7.Which is an advantage of a savings account at a bank or credit union?
  • A.The money is kept safe and earns interest
  • B.It pays you to spend money
  • C.You can never take your money out
8.Why does a CD usually pay more interest than a regular savings account?
  • A.The bank can count on keeping the money for a set time
  • B.CDs are riskier than piggy banks
  • C.The government pays the extra interest

LessonPrint · D2.Eco.9.3-5 · Set 20 · free to copy for classroom use

Answer key — Where to Keep Your Savings

Set 20. Prints on its own sheet.

  1. 1.Savings left in a bank for a set time to earn more interest
  2. 2.You usually pay a penalty if you take the money out early
  3. 3.A savings account or college savings plan that earns interest
  4. 4.It could be destroyed in a fire
  5. 5.A savings account you can take money out of at any time
  6. 6.The FDIC insures deposits up to a limit
  7. 7.The money is kept safe and earns interest
  8. 8.The bank can count on keeping the money for a set time

Last reviewed 2026-09-05. Aligned to D2.Eco.9.3-5 of the C3 Framework for Social Studies State Standards.