Which of the following would be an example of a brick & mortar bank?

First National Bank of Omaha (FNBO)

To avoid a monthly maintenance fee at a brick & mortar bank, it is likely that you will need to have:

a minimum dollar amount in your account

deposit a certain amount of money each month

Which would likely be the worst number to use as a PIN for your debit card?

Your parents wedding anniversary

The last four digits of a friends phone number

The jersey numbers of your two favorite football players put together.

Prepaid cards and debit cards differ from one another in that:

Debit cards are linked to a bank account while prepaid cards are not.

Debit cards require a PIN number while prepaid cards do not.

Debit cards can be used for purchases while prepaid cards can only be exchanged for cash.

All debit cards are issued by Visa, whereas all prepaid cards are issued by MasterCard.

The average overdraft fee will likely cost you:

The amount you overdrew your account by times 2

Overdraft fees do not exist because banks do not allow you to spend more than what is in your account.

If you choose to use an ATM that is not in your banks network, the average fee is usually:

The amount you of money you are withdrawing times 0.5

You can take money out of an ATM without a fee being charged.

All of the following are costs of being unbanked EXCEPT:

You owe a penalty on your income taxes each year.

You have to pay a third party check casher to cash your checks.

There is the danger of losing your money due to natural disaster, fire, or theft.

Which of these banking activities would be common for someone to do in 2024?

Receive a bank statement in the mail each month.

Call the bank to initiate a transfer of funds from one account to another.

Which of the following would have been a common banking activity during the 1990's that isn't as relevant today?

Writing checks and sending them in the mail to pay your bills.

24 / 7 access to your transactions and balances.

Transfer money from account to account using your smartphone.

To pay a bill online (say through NPPD, Spectrum, or Verizon), you need all of the following EXCEPT:

Username & Password for the Service Provider

All of the following are needed when filling out a direct deposit form at your place of work EXCEPT:

A check for $50 as an "test deposit"

Type of account that money will be deposited to

One reason some places don't accept cash; or only accept cash when you spend a certain amount of money, is because Visa and MasterCard charge the business _____% of each transaction to process them.

The percentage varies by state.

You are taking a community college course during high school to get a jumpstart on your college credits. You need to purchase your own textbook, and you find a woman online who is selling the book used for a 45% discount. Which is the most secure way to pay this person?

Use a person-to-person payment app

Call her and read your debit card numbers to her over the phone

Take a picture of your debit card front and back, and send that over via email

Which of the following transactions will REDUCE your checking account balance immediately?

Using your debit card to pay for groceries at the supermarket

Writing your monthly rent check which you will mail tomorrow

Using your credit card to pay for your school books

Depositing a check at a local bank branch

Your cousin Justine overdraws her checking account at least 4 times per month every month. Which of the following recommendations seems the most reasonable to help get her account under control?

Justine should rework her budget and cut out nonessential purchases each month

Justine should shut down her checking account and start paying for everything in cash

Justine should keep her strategy the same and hope she has fewer expenses next month

Justine should set alerts on her account, which will completely prevent her from overdrawing

You are a customer with an Everyday Checking Account. Indicate which statement about your account is TRUE.

Your monthly service fee is waived if you have at least $1,500 as a daily balance

You need a minimum deposit of $50 to open the account online

You are earning interest on this account

If you are between 17 and 24, you will not pay a monthly service fee

Norbert’s neighbors pay him $25 in cash for shoveling their driveway after the season’s first big snow. He wants to deposit the money into his checking account. Which option would work best?

Complete a deposit slip and take the cash into his bank for deposit with a cashier

Take a picture of the cash using his mobile phone app

Put the cash in an envelope and mail it to the bank

Load the cash onto a prepaid card at a convenience store

You are at the checkout counter at the local supermarket and use your debit card to pay for your groceries. Where does the money for this purchase come from?

It is deducted directly from your checking account

Your credit card company covers the cost

Your bank writes a check to the supermarket, and the money comes from your account once the check clears

Your bank sends the supermarket the money from your account at the end of the month, once you approve it on your statement

Juanita wants to simplify her financial life, so she signs up for online banking provided by her bank. Her checking account mobile app will likely let her do all of these things EXCEPT...

Deposit checks using her phone’s camera

Transfer money electronically between her checking and savings accounts

Charles received this email in his inbox, but he decides not to click on the link because he’s pretty sure the email is a scam. Which of these clues has likely led Charles to believe this is a scam?

The three exclamation points in the link (!!!) is unprofessional for a bank to use in communication

The email mentions that the new feature “allows us to detect unusual activity on your online account,” but that level of technology does not exist yet

By law, all banks must have a full name -- HSBC is not an acceptable bank name

Banks do not typically send their customers emails; they only use postal mail

Which of the following represents a convenient feature of being paid via direct deposit?

Your paycheck will already be in your account on payday, rather than needing to travel to the bank, deposit the check, and wait for it to clear

Direct deposit takes cash payments, such as the tips a waiter receives, and turns them into an electronic source of money

When you have direct deposit, the tax money usually taken out of your account to pay for paper check printing remains in your paycheck, so you take home more pay

People paid via direct deposit usually make more money than those who receive a paper check

Which individual would likely get the MOST benefit from opening a checking account at a large national bank with many branches?

Pilar, who travels at least twice a month for work to cities across the US

Carlos, who has lived and worked in Omaha his whole life

Mina, who is quite tech-savvy and attends community college in her hometown

Lawrence, who, as a bartender, earns a lot of money in cash during each of his shifts

Which individual might value access to a local bank branch or their bank's ATMs MOST?

Marcus, who, as a waiter, earns most of his money in cash during each of his shifts

Minnie, who attends college in Rhode Island but whose hometown is in Nebraska

Brendan, who tries to do all of his purchases using his credit card and then pays it off using online bill pay from his checking account

Olivia, who is quite tech-savvy and whose company pays her using direct deposit

New PF (1)

Authored by Luke Grossnicklaus

Business

10th Grade

Used 20+ times

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of a bank?

They offer low interest rates on savings than credit unions.

The charge higher interest rates on loans than credit unions.

They have more advanced technology than credit unions.

They are non-profit institutions.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of a credit union?

Credit unions are non-profit institutions.

Credit unions have less advanced technology compared to banks.

Credit unions charge higher interest rates on loans than banks do.

Credit unions offer higher interest rates on savings than banks do.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The specific requirement to join the University of Nebraska Credit Union is:

You must be a current student or alumnus of the University of Nebraska.

You must live in the state of Nebraska.

You must live within 30 miles of a University in Nebraska.

You must be a season ticket holder to one Husker sport.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are banks EXCEPT:

Wells Fargo

FNBO

Trius

Minden Exchange

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of an online bank?

High account fees and low investment yields

Large network of ATM's, but not always in small towns

No physical locations

Exclusively online / over the phone support

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of a brick & mortar bank?

Charges higher fees and provides lower yields on investments

Face-to-face customer service

Large network of ATMs

Opportunity to deposit cash

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of an online bank?

Minden Exchange Bank

Capital One

Pinnacle Bank

Wells Fargo

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New PF (1)

Which of the following is NOT a characteristic of a bank?

Which of the following is NOT a characteristic of a credit union?

The specific requirement to join the University of Nebraska Credit Union is:

All of the following are banks EXCEPT:

Which of the following is NOT a characteristic of an online bank?

Which of the following is NOT a characteristic of a brick & mortar bank?

Which of the following is an example of an online bank?

Which of the following would be an example of a brick & mortar bank?

To avoid a monthly maintenance fee at a brick & mortar bank, it is likely that you will need to have:

If I invest $5,000 into a traditional savings account at a bank earning 0.15% interest, I will make $7.50 on my money in one year. How much would I make if I put $5,000 into a high yield savings account that earns 4.5% each year?

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