Banking

Front

Overdraft protection...

Back

Allows you to withdraw more money than you have in your account

Front

Which of the following is TRUE about banks and credit unions?
Options:
Banks are for-profit institutions, while credit unions are non-profit
Banks offer higher interest rates on savings accounts than credit unions
Credit unions are insured by the FDIC, while banks are not
Banks are owned by their customers, while credit unions are owned by shareholders

Back

Banks are for-profit institutions, while credit unions are non-profit

Front

Which of the following is NOT required to open a checking account? Proof of identity, Proof of address, Social security number, Minimum age requirement

Back

Minimum age requirement

Front

What feature is the LEAST important for a college student to look for in a checking account? Options: Low or no monthly fees, Convenient ATM access, High interest rates, Online and mobile banking

Back

High interest rates

Front

Which of the following is FALSE about check registers?
They help you keep track of your account balance,
They are used to record deposits and withdrawals,
They are no longer necessary with online banking,
They can help you detect errors or fraud

Back

They are no longer necessary with online banking

Front

What is a typical overdraft fee?

Back

$25

Front

How can you protect your checking account when using online and mobile banking? Options: Use strong and unique passwords, Avoid using public Wi-Fi networks, Regularly monitor your account activity, All of the above

Back

All of the above

Front

What is a 529 account?

Back

A college savings account.

Front

About how much should you save in an emergency fund?

Back

3 -6 months of expenses

Front

What are some reasons for why so many Americans live paycheck-to-paycheck? Low wages, High cost of living, Lack of financial education, All of the above

Back

All of the above