Personal Finance Final Review_DB_S1

Front

All of the following would reduce Maria’s checking account balance, EXCEPT… Writing a check to pay her rent, Using her debit card to buy groceries, Setting up an automatic payment for her utility bill

Back

Receiving a direct deposit from her employer

Front

Usually, ______ are easier to reduce because they change monthly, compared to ______ which are set costs you pay monthly

Back

variable expenses; fixed expenses

Front

To calculate the net price for a college, you...

Back

Subtract any grants and scholarships from the sticker price

Front

All of the following are common benefits of mobile banking, EXCEPT… Transfer money without visiting a bank branch, Deposit checks using your phone’s camera, Check your account balance at any time

Back

Avoid all banking fees, like overdraft fees

Front

Which of the following is an example of a dark pattern? A social media app that clearly shows you how to turn off notifications, An online store that applies a discount with a valid coupon code, A website that asks for confirmation before adding extra items to your cart, A subscription service that requires you to call customer service to cancel

Back

A subscription service that requires you to call customer service to cancel

Front

What is the benefit of compounding in savings accounts?

Back

It yields larger returns than simple interest

Front

Shirley’s take-home pay, aka her _____, was lower than she expected because of _____ taken out for taxes and retirement.

Back

Net pay; deductions

Front

How is putting money in a savings account different from investing in the stock market?

Back

Saving is best for short-term needs; investing is best for long-term goals

Front

Which of the following best describes a credit report? A detailed record of your borrowing and repayment history, A summary of your monthly income and expenses, A list of all the bank accounts you have opened, A document that shows your current credit and balances only

Back

A detailed record of your borrowing and repayment history

Front

Compared to alternative banking services (e.g. check cashing), traditional banks…

Back

Offer more consumer protections