Which statement best describes purchases made with a debit card?

W!SE Practice Test - Napier

Quiz
•
Life Skills
•
9th - 12th Grade
•
Medium

Dana Napier
Used 11+ times
FREE Resource
40 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Purchases made with this card are subject to interest.
Purchases made with this card can be paid over time.
Purchases made with this card are withdrawn directly from a bank account.
Purchases made with this card are subject to a credit limit.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The “time value of money” means that...
money paid out today has less value than if the money is paid out in the future.
money received today is worth more than the same amount of money received in the future.
the more time a person has to save, the lower the return on the money.
the longer money is held, the less likely it will be spent.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of an opportunity cost is
buying a dress at a sale price instead of paying the original price.
using coupons when food shopping.
buying concert tickets instead of buying a textbook for a course.
using a credit card when making a large purchase.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do banks use the money a person deposits into their savings account?
The bank is able to use the money to earn profits.
It is a requirement of the Federal Deposit Insurance Corporation (FDIC).
It helps the bank invest in the local community.
It is a benefit of having a bank credit card.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following would be considered an asset?
Certificate of Deposit
Student Loan
Credit Card Account
Car Loan
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Investments with higher returns generally have higher
risk
fees
liquidity
deductibles
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