banking test

Hailey's bank is FDIC Insured. What is the benefit to Hailey?

• She can use her bank card at any bank, nationwide, without incurring a fee

• If Wanda’s bank goes out of business, she will receive all of her money back from her accounts up to $250,000

• She will receive a debit card and a checkbook she can use to make purchases

• If she makes a purchase with her debit card and the item breaks, she’ll get a full refund

Orrin had $541.06 in his checking account, and a check that he wrote to his landlord for $560.00 was just deposited. This will result in which of the following fees?

• Overdraft Fees

• Service Fees

• ATM Fees

• Check Fees

Withdrawals on a checking account are usually  unlimited.

• True
• False

If you use an ATM that is not sponsored by your bank, you may be...

• given extra money.
• given a hug.
• given ice cream.
• charged a service fee.

This account allows you to deposit money at a bank for safekeeping.

• Saving Account
• Checking Account
• Bill Account
• Casino Account

This is the cost of using some other person's or bank's money.

• Interest
• Bill
• Principal
• Credit

This account allows you to withdraw money, pay a bill, or make purchases easily.

• Checking Account
• Savings Account
• Market Money Account
• CD Account

The action enters money into an account.

• Deposit
• Withdrawal
• Loan
• Deduction

This action removes money from an account, either at the bank or an ATM.

• Withdrawal
• Deposit
• Loan
• Credit

This action allows movement of funds from one account to another.

• Transfer
• Debit
• Credit
• Loan