Review Unit 1 Checking

Front

You can access the money in your checking account by...

Back

Transferring money though your online account

Front

People who are unbanked are most likely to...

Back

Incur lots of fees at Check Cashers to access their money

Front

Overdraft protection...

Back

can keep you from overdrawing but charges a fee.

Front

Which of the following fee(s) may banks charge you? Online Statement Fee, Monthly Maintenance Fee, In-Network ATM Fee, Sufficient Funds Fee

Back

Monthly Maintenance Fee

Front

What is the benefit of direct deposit?

Back

You don't have to spend time and energy depositing a check

Front

Which of the following is TRUE about banks and credit unions? Banks are for-profit; credit unions are not-for-profit, Banks are not taxed; credit unions are taxed, Banks are insured by the NCUA; credit unions by the FDIC, There are more local credit unions than there are banks

Back

Banks are for-profit; credit unions are not-for-profit

Front

Which of the following is TRUE of prepaid debit cards? They are issued by your bank & connect to your checking account, There are usually minimal fees associated with them, Prepaid cards can help build your credit, They can be used as an effective budgeting tool

Back

They can be used as an effective budgeting tool

Front

Which of the following is NOT a common way most people are using P2P?
To pay rent, To pay off their credit cards, To pay back friends, To buy gifts

Back

To pay off their credit cards

Front

What feature is LEAST important for a college student to look for in a checking account? Options: Low minimum balance requirement, Interest rate, Fees, ATM availability

Back

Interest rate

Front

Which of the following is FALSE about check registers? It can help you identify mistakes in your bank statement, It can help you avoid writing checks that cause an overdraft, You can submit them to the bank and verify each transaction, You know exactly how much money you have left to spend

Back

You can submit them to the bank and verify each transaction