Financial Institution Pre-Test

A key difference between credit unions and banks is:

• Banks usually pay higher interest on savings accounts

• Credit Unions are usually member-owned

• Bank debit cards are more widely accepted

• All of the above

A single fund account is insured by the Federal Deposit Insurance Corporation (FDIC) for up to how much?

• $1,000,000

• $500,000

• $250,000

• $150,000

What types of fees may financial institutions charge?

• Overdraft Fees

• Monthly Account Fees

• ATM Fees

• All of the Above

If you want to switch banks you should:

• Compare services at other banks and credit unions first.

• Compare fees at other banks and credit unions first

• Consider the location and convenience of other banks and credit unions first

• All of the above

Overdrafts can happen when you're using:

• A credit card

• A prepaid card

• A debit card

• All of the Above