Banking & Saving

What is an overdraft fee?

• A fee charged when you transfer too many funds between accounts.
• A fee for spending more money than you have
• A fee for watching TV

Which of the following is NOT a good place to save for the future?

• Money Market Account
• Checking Account
• Certificate of Deposit (CD)

Which of the following will have the highest average fee?

• Overdraft Fee
• Out-of-Network ATM fee
• Your too tall fee

Why do people use banks?

• To keep money safe and easy to use
• To play games
• To buy food

Fill in the blanks with the correct responses. If you follow the 50-30-20 rule of budgeting, you'll be putting 50% of your monthly income toward _______________, 30% of your monthly income toward _____________, and 20% of your monthly income toward ______________.

• Needs, wants, savings
• Savings, needs, wants

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

• Writing your monthly rent check which you will mail tomorrow
• Using your debit card to pay for lunch
• Depositing a check at a local bank branch

How often do customers typically receive a bank statement for their checking account?

• Daily
• Monthly

What is a checking account for?

• Spending money
• Growing food
• Watching videos

What is the main job of a bank?

• To keep money safe and help people manage it
• To sell things to customers
• To make phone calls for people

What happens to your money when you put it in a bank?

• The bank keeps track of it and may pay interest
• The bank takes it and spends it
• It disappears until you ask for it back