Banking

You just save $1,500 from working a job being a food delivery person for the past 7 months. You are saving the money for grad school after college because you received a scholarship. Which savings vehicle would be your best option.

• Regular Savings account

• Checking Account

• Certificate of Deposit

• Money Market Account.

Most individuals who are non-banked believe that they are doing their best to manage their money. Which statement below is correct in relationship to saving?

• It is really difficult to open a savings account, that is why many people do not have one.

• Savings accounts require extremely large minimum deposits as well as regular monthly deposits to eliminate monthly fees.

• Studies show that individuals who utilize bank account (saving/ & checking) are more likely to be successful at saving.

• It is recommended to store you emergency fund in your checking account.

When checking out at a store, if you answer "Debit" when the cashier asks how you would like to process your transaction, the money will come from?

• Your Checking Account

• Your Savings Account

• Your Money Market Account

• Your Credit Card Company

All of the following are ways to access the money in your checking account except?

• Using you Debit card to pay for groceries

• Going to the bank and getting money from the ATM

• Paying with your Credit Card and getting cash back

• Using your Apple pay that is linked to your checking account.

What account will be impacted by this transaction? You save money each month in an account that is designed to permit you to earn a higher interest rate and also permits you to write up to 6 checks a month from the account.

• Saving Account

• Checking Account

• Certificate of Deposit

• Money Market Account

This agency is responsible for insuring the money that you store in a bank with their guarantee.

• FDIC

• DCIF

• FIDC

• FICS

Which of the following transactions may not immediately show on your online checking account app.

• Money taking out an your bank's ATM

• A scheduled bill pay that paid your car loan payment 3 days ago

• A check that you wrote and mailed to the electric company two days ago

• A debit card purchase from Walmart yesterda.

Banks are well know for charging customers fees associated with some of their transactions. All of the following will help you avoid ATM Fees, except?

• Using only your bank's ATMs

• Getting cash back when making a purchase

• Seek out an ATM from a bank that is in the same network as your bank.

• Use a P2P app to send money to a friend instead of using the ATM located at your apartment complex office.

What is the best way to avoid Overdraft Fees?

• Set a notification on your phone to alert you when your balance is $0.00

• Don't sign up for Overdraft Protection

• Don't bother keeping a check register for the joint account you share with your spouse.

• Make sure that if you trigger your Overdraft Fee that you immediately transfer money into your account.

When going to the beach you loose your wallet. Which option would be the easiest way to get cash?

• Borrow money from your credit card

• Have your parents send you money through western union.

• Transfer money to a friend and have them get you cash from an ATM

• Don't buy anything for the remainder of your vacation.