
Understanding Overdrafts

Interactive Video
•
Business
•
9th - 10th Grade
•
Hard
Jennifer Brown
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an overdraft primarily used for?
Paying off mortgages
Daily shopping
Unexpected expenses
Long-term investments
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does an arranged overdraft differ from an unarranged overdraft?
It is set up without the bank's approval
It is only available to businesses
It is pre-agreed with the bank
It has higher fees and interest rates
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of overdraft typically involves negotiating terms with the bank?
Unarranged overdraft
Arranged overdraft
Emergency overdraft
Temporary overdraft
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential consequence of frequently using an unarranged overdraft?
Increased savings
Cycle of debt
Lower interest rates
Improved credit score
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to use overdrafts responsibly?
To qualify for more loans
To improve your credit score
To avoid high fees and interest rates
To increase your bank balance
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