Unit 2 Quiz

Unit 2 Quiz

12th Grade

10 Qs

quiz-placeholder

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Unit 2 Quiz

Unit 2 Quiz

Assessment

Quiz

Business

12th Grade

Practice Problem

Medium

Created by

Jeri Howard-Rodriguez

Used 2+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Overdraft protection is a required feature of most checking accounts with no ability to opt out.

True
False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are reasons to open a checking account EXCEPT

The ability to make purchases with a debit card
Access to cash at an ATM
Earn interest on your deposits

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are ways to avoid ATM fees EXCEPT

Avoiding out of network ATMs
Finding a bank that reimburses you for ATM fees
Withdrawing money from your savings account instead of your checking account

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is typically a feature of a savings account but not a checking account?

Your money earns interest
Ease of making payments using a debit card

Ability to withdraw money from an ATM

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Tyreke has $5,000 to put into an account that earns compound interest. Which of the following is the BEST advice you can offer so that he can maximize interest?

Deposit your money as early as possible in an account with the highest interest rate possible
Compound interest will not have any effect at such a low dollar amount. Find different opportunities to earn interest on your savings.

It's ok to open an account with a low interest rates as long as you deposit your money early

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is usually a benefit of being a member at a credit union?

Higher interest rates and lower fees
Higher interest rates and higher fees
Lower interest rates and lower fees

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Daisy reads her bank statement and finds an error. She should…

Do nothing. The bank will correct the error at the end of the month.
Call the bank. The bank will investigate the transaction to see if it was an error.
Assume that it’s a transaction that she made and forgot about.

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