Quiz on NGPF FinCap Friday_Unbanked Americans and ChexSystems

What was the purpose of the stimulus checks received by Americans in mid April 2020?

• To financially assist Americans who experienced reduced work hours due to Covid-19

• To financially assist all Americans regardless of their financial situation

• To financially assist Americans facing money challenges due to Covid-19

• To financially assist Americans who lost their jobs due to Covid-19

What percentage of American households are considered unbanked?

• 2.5%

• 4.5%

• 6.5%

• 8.5%

What is ChexSystems?

• A consumer reporting agency that checks financial histories of bank account applicants

• A credit bureau that collects data about debts owed on credit cards or loans

• A government agency that distributes stimulus checks to unbanked Americans

• A financial institution that provides banking services to unbanked individuals

What is the range of qualifile scores calculated by ChexSystems?

• 500 to 999

• 200 to 999

• 100 to 899

• 300 to 850

What does a lower qualifile score indicate?

• Unpaid overdraft fees from previous bank accounts

• Involvement in bank fraud

• A positive banking history

• A good credit score