
Understanding Checking Accounts Flashcard
Flashcard
•
Life Skills
•
10th Grade
•
Practice Problem
•
Easy
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12 questions
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1.
FLASHCARD QUESTION
Front
What is the first step in opening a checking account?
Back
Choose a bank and gather necessary documents
2.
FLASHCARD QUESTION
Front
Which of the following is a common fee associated with checking accounts? Interest fee, Overdraft fee, Loan origination fee, Mortgage fee
Back
Overdraft fee
3.
FLASHCARD QUESTION
Front
What is the primary purpose of online banking?
Back
To allow customers to manage their accounts digitally
4.
FLASHCARD QUESTION
Front
Which document is typically required to open a checking account? Options: Birth certificate, Driver's license or state ID, High school diploma, Credit report
Back
Driver's license or state ID
5.
FLASHCARD QUESTION
Front
What is a common feature of online banking?
Back
Access to account statements
6.
FLASHCARD QUESTION
Front
Which of the following is NOT typically a fee associated with checking accounts? Monthly maintenance fee, ATM withdrawal fee, Foreign transaction fee
Back
Late payment fee
7.
FLASHCARD QUESTION
Front
What is the term for the fee charged when you spend more than your account balance?
Back
Overdraft fee
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