Unit 11 Extra Test Review

Which bank is better for me? I pay for lunch 20 times a month with my debit card. I do not write checks or use the ATM.

• State Bank
• Bank of Texas

You use your debit card at HEB to pay for your groceries. This is called a...

• transfer

• deposit

• withdrawal

• bank fees

You get paid by your employer and go to the bank to add the money to your account This is called a...

• transfer

• withdrawal

• deposit

• debit

Purchase is withdrawn directly from a checking or savings account. 

• Debit card
• Credit card
• Both

You can purchase an item now and pay for it later.

• Debit card
• Credit card
• Both

Interest may be charged.

• Debit card
• Credit card
• Both

Which of the following would not be found on a consumer's credit report?

• Mortgage loan

• Checking account balance

• A student loan

• How long the consumer has had the credit card

Mr. Irons is planning to take out a loan to buy a car. At the car dealership he must sign a statement giving permission to check his credit report. Which statement best describes why the car dealership wants to check his credit?

• To determine if Mr. Irons is a safe driver

• To decide how much money Mr. Irons earns

• To determine if Mr. Irons can afford the car

• To determine the likelihood of Mr. Irons paying back the loan on the car.

Mrs. Wright has organized the features of a credit and a debit card into a table below. Which description is the best representation for the missing detail?

• purchases are unlimited in funds

• purchases are charged a fee at the time of transaction

• purchases must in a one-time payment

• purchases are subject to a credit limit

What is a bank account that customers use for daily financial transactions?

• withdrawal

• checking account

• debit card

• deposit