Bank Accounts

Front

Which of the following is NOT considered to be a bank account? Checking, Money Market, Stock Market, Savings, Certificate of Deposit

Back

Stock Market

Front

Which of the following has a fixed interest rate?
Fixed interest: interest percentage will not change while your money is in the account.
Checking, Money Market, Stock Market, Savings, Certificate of Deposit

Back

Certificate of Deposit

Front

Which of the following accounts typically has the highest variable interest rate?
Variable interest: interest percentage might change while your money is in the account to reflect current competitive rates.
Options: Checking, Money Market, Stock Market, Savings, Certificate of Deposit

Back

Money Market

Front

What is a debit card?

Back

a card issued by your bank allowing you to access and spend money that is in your checking account

Front

Certificates of Deposit (CDs) and money market accounts are both federally insured up to $250,000 by the FDIC and usually require a higher minimum opening deposit. True or False?

Back

True

Front

What is NOT a benefit of using a debit card? Benefits are good things. 3 of these are good things. 1 is NOT. Debit cards are connected to you checking account. Options: More convenient and safer than carrying cash., Helps to control your spending., Helps build your credit score and credit history., Can be used to make online purchases and payments.

Back

Helps build your credit score and credit history.

Front

What is an overdraft?

Back

occurs when you spend more money than you have available in your checking account and the Bank pays your transaction anyway

Front

Which of the following rarely (almost never) pays interest?
Checking, Money Market, Savings, Certificate of Deposit

Back

Checking

Front

If you lose your debit card, what is the first thing you should do?

Back

Call the bank and report it IMMEDIATELY.

Front

If you might need access to your money, which account should you NOT open?
Options: Checking, Money Market, Savings, Certificate of Deposit

Back

Certificate of Deposit