RAPS Finance Review Questions for Final

First Name:

Tags

CCSS.L.2.4B

CCSS.L.2.4C

CCSS.L.3.2E

Last Name:

Hour/Class

1. All of these are common banking fees, EXCEPT...

• Insufficient funds fee
• Overdraft fee
• ATM fee
• Account opening fee

2. Which of the following is a disadvantage of using a check casher, compared to a bank?

• You wait longer to get your money at a check casher than at a bank
• You pay a higher fee to cash checks at a check casher than at a bank
• You can only cash checks worth more than $500 at a check casher
• You can cash fewer checks at a check casher than at a bank

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

3. Isabella notices her bank statement includes a $25.72 charge from Shell Gas that she does not remember making. She should do all of the following, EXCEPT...

• Set up text alerts, so she will be notified of potentially fraudulent charges in the future
• Contact the bank immediately, so they can investigate the charge
• Review her receipts and the details of the transaction, so she can confirm if the charge is real
• Wait for the bank to contact her, so she has the complete fraud report before responding

4. Which of these options correctly matches the fee with its average cost?

• Monthly maintenance fee - $50
• Overdraft fee - $35
• ATM fee - $35
• Overdraft fee - $50

Tags

CCSS.8.EE.C.7B

5. Your friend Samir very excitedly tells you about opening his new checking account. “I’m so glad they only had a minimum opening amount of $50! I will leave my money in there so it can grow!” What is some advice you might give to Samir?

• A checking account isn’t very safe, so you should hide your money in your mattress instead
• A checking account is the best place to leave your money because of the high interest rates
• A checking account won't grow your money much because of low interest rates and fees
• A checking account won’t be good because it will be difficult to get your money into and out of

Tags

CCSS.RI.8.1

CCSS.RI.8.8

CCSS.RL.11-12.1

CCSS.RL.8.1

CCSS.RL.9-10.1

6. Which of these bank alerts will help protect you from overdrafting your account?

• Unusual activity alert
• Low balance alert
• Debit card alert
• Profile change alert

7. Which of the following is a way you can get money out of your checking account?

• Using your credit card to get cashback at a supermarket
• Withdrawing cash using an ATM
• Depositing a check at a bank branch
• Having your paycheck deposited electronically