Personal Finance - Chapter 8: Multiple Choice

A bank can help you _______________ your money and keep it _______________.

• Manage; safe
• Find; growing
• Deposit; budgeted
• Budget; available

Some of the services banks offer include . . .

• Paying of your student loan debt and saving for your future
• Creating a personalized budget for you and managing your schedule
• Teaching you how to handle your finances and encouraging you to cut up your credit cards
• Mortgages, check writing, and debit cards

A savings account is for _______________.

• Investing your money
• Regular spending
• Long-term savings goals
• The Entertainment budget line item

An easy way to avoid ending up with errors in your checking account is to simply . . .

• Only use cash
• Monitor your account at least twice a week
• Keep all your receipts
• Budget ofen

The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) keep your money in the bank insured up to _______________ per account.

• 250
• 2500
• 25000
• 250000

Credit Unions differ from retail banks in that they typically require membership based on specific criteria.

• True
• False

Your emergency fund should go in your checking account, NOT a money market account.

• True
• False

If you see "pending" on an account charge, that means . . .

• You need to make a deposit before it is paid
• The payment was declined
• It hasn't been fully processed yet
• It is suspected of being a fraudulent charge

Distrust, unemployment, and bank fees are a few excuses people give for . . .

• Not making and sticking to a budget
• Not looking for work when their checking account is getting low
• Not having a savings or checking account
• Not fling their taxes

If you prefer great customer service and lower fees . . .

• A small, local bank is often a great option
• You should use the check cashing service at a large retailer
• A large, national bank is for you
• You should jump from bank to bank until you find the perfect match