WorksheetsUnit 2: Banking Test Review
Total questions: 22
Worksheet time: 11mins
Which of the following is NOT a bank service?
Interest
Checking
Savings
Loans
What is one positive to using a currency exchange?
No place to store money
Quick cash
High fees to cash checks
High fees for cash advancements
When you have an overdraft fee...
You can be charged for going into the negative for your bank account
You can be charged per transaction
None of these answers
You can be credited by the company that bounced your check
Which is NOT true of savings accounts?
15% of your paycheck should go here
Store money here for the unexpected
Has a higher interest rate than checking accounts
Paychecks should be deposited into savings
Which should be used with the most caution?
Debit cards
Savings cards
Credit cards
Online bill pay
Which do you need to open a bank account? Choose multiple answers.
A minimum amount of money
Two forms of ID
Outstanding debts
Meet with a banker
Which is when the Federal government protects your money up to $250,000 if the bank fails/closes?
FAFSA
AARP
GDP
FDIC
Should you bank with a bank that is FDIC or NCUSIF ensured?
Yes
No
Credit cards can...
Take money directly from your checking account
Impact your credit score
Make the interest on compound accounts fluctuate
Be shared with everyone you know
Which is the routing number for this check?
0020030041
1092320004
2008
4923
Which number is the account number for this check?
0020030041
1092320004
2008
4923
Which shows how trustworthy you are to banks?
Debit score
Savings score
Interest Score
Credit Score
You should check your credit score every...
12-18 months
6-12 months
4-6 months
2-4 months
Should you pay the full balance on a credit card each month?
Yes
No
If you use your credit card on small purchases and pay it off every month, you can...
Fix your Blue Sheet
Improve your credit score
Mend your expenses with interest
File Title 13
The principal is...
The interest made into decimal and 1 added to it
The total in interest accrued over a year
The APR rate
The initial amount of money you borrow or lend
Which bankruptcy is for those who make enough money to live on but have overspent?
Chapter 7
Chapter 13
Chapter on Bankrupcty
Peter Francis Geraci
Which person is NOT considered unemployed
A person looking for work who was just laid off
A person who is part time but is applying for full time jobs
According to the Truth and Lending act, which rights are you entitled to?
Have the true interest rate/APR in writing
Title 7 or 13 Bankruptcy
Knowledge of your credit score
Ability to deny creditors
According to the Fair Debt Collections Act, which are you NOT entitled to?
No abusive language
No calls at reasonable hours
No threats to call your employer or your friends
No attempt to collect more than you owe, even with a fee
If you change 1.3% into a decimal, it would be...
.013
.13
1.3
2.3
If your interest rate were 6.7%, your discount factor would be...
1.67
6.71
1.067
7.7
