Banking - Salak

People who are unbanked are most likely to...

• Have a high credit score

• Have a low income

• Have a college degree

• Have a mortgage

Overdraft protection...

• Allows you to withdraw more money than you have in your account

• Protects your account from unauthorized transactions

• Helps you save money for emergencies

• Provides insurance for your deposits

Tags

CCSS.7.NS.A.1B

Which of the following is TRUE about banks and credit unions?

• Banks are for-profit institutions, while credit unions are non-profit

• Banks offer higher interest rates on savings accounts than credit unions

• Credit unions are insured by the FDIC, while banks are not

• Banks are owned by their customers, while credit unions are owned by shareholders

Which of the following is NOT required to open a checking account?

• Proof of identity

• Proof of address

• Social security number

• Minimum age requirement

Tags

CCSS.7.RP.A.3

Which of the following is NOT a common way most people are using P2P, such as Venmo?

• Splitting bills with friends

• Paying rent or utilities

• Sending money to family members

• Investing in stocks

What feature is the LEAST important for a college student to look for in a checking account?

• Low or no monthly fees

• Convenient ATM access

• High interest rates

• Online and mobile banking

What is a typical overdraft fee?

• $10

• $25

• $50

• $100

Tags

CCSS.6.NS.B.3

How can you protect your checking account when using online and mobile banking?

• Use strong and unique passwords

• Avoid using public Wi-Fi networks

• Regularly monitor your account activity

• All of the above

Why is understanding a bank's fees particularly important for students or young adults?

• They are more likely to have a low income

• They are more likely to have a high credit score

• They are more likely to have a mortgage

• They are more likely to have a college degree

What is a 529 account?

• A retirement savings account

• A health savings account

• A college savings account

• A tax-free savings account