
RWC Unit 5 Financial Math
Quiz
•
Life Skills
•
12th Grade
•
Medium
Used 2+ times
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22 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes the biggest problem with savings accounts today?
They are no longer a secure option for your money
The interest rates offered fluctuate with the stock market performance
You aren’t allowed to withdraw your money anytime you want
The interest rates offered are lower than the inflation rate
Savings accounts do not allow for auto deposits
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between a savings account and a Certificate of Deposit (CD)?
CDs typically earn a higher interest rate than savings accounts
Funds deposited in a CD are locked in for a specific amount of time
Unlike CDs, savings accounts do not charge penalties for early withdrawals
All of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Corbin and his wife have a bank account that they use to pay their bills, and deposit their paychecks into regularly. Both of them have the authority to make changes to the account. Which of the following is most likely the type of account that they have?
Individual Checking
Joint Checking
Individual Savings
Joint Savings
Individual CD
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe transactions that post to an account immediately?
Point-of-Sale
Credit Posting
Joint Savings
Instant Debit
Electronic Funding
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Natalie’s electric bill is automatically paid out of her checking account whenever it is due even though it’s a different amount each month. What account feature does she most likely have?
Auto-pay
Bill-pay
Overdraft
Direct deposit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes the financial term floating money?
Debit card transactions that post immediately to your account
Money that floats away when dropped into a river
Money that has been spent, or committed to be spent, but not processed by the bank yet
Direct deposit amounts that come from employers
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is highly likely that long-term savings deposits will end up being worth less when they are withdrawn than when they were deposited.
True
False
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