WorksheetsCareer Prep Unit 4 Review
Total questions: 33
Worksheet time: 17mins
What is the amount the FDIC insures deposits in a commercial bank or credit union?
Up to $250,000
Up to $100,000
Anything over $250,000, but nothing below $250,000
The amount is unlimited
Credit Unions usually pay a ___________ (Fill in the blank)interest rate on savings accounts and charge a _______ (Fill in the blank)interest rate on loans than commercial banks.
higher; higher
higher; lower
lower; lower
lower; higher
Which of the following is an example of a payment service?
savings account
credit card
checking account
money market account
Which of the following is an example of a savings service?
direct deposits
credit card
checking account
money market account
Which of the following is an example of a loan service?
direct deposit
credit card
checking account
money market account
Which of the following is an example of an electronic banking service?
direct deposit
credit card
checking account
money market account
Which of the following is not an example of an electronic banking service?
credit card
direct deposit
Internet banking
ATM machines
Which of the following is not an example of a loan service?
credit card
mortgage
automobile loan
checking account
Which of the following is not an example of a savings service?
traditional savings account
certificate of deposit
money market account
checking account
Who owns a bank?
the members
shareholders
the customers of the bank
the US government
Who owns a credit union?
the US government
shareholders
the members of the credit union
The creditors
How old must you be in Alabama to open a checking or savings account without someone to co-sign?
17
19
16
18
Which of the following is not insured by FDIC insurance?
traditional savings account
certificate of deposit
money market account
mortgages
Which of the following types of financial institutions is considered non-profit and owned by its members?
Banks
Credit unions
Payday lenders
Mortgage companies
Which of the following types of financial institutions provides short-term loans at an extremely high interest rate?
banks
payday lenders
mortgage companies
credit unions
Which of the following types of financial institutions is the best choice for customers to find a loan to purchase a home?
banks
payday lenders
check cashing services
mortgage companies
How do banks and credit unions make a profit?
They charge their customers a fee for the service.
They charge a high interest rate.
They charge a higher interest rate than they pay in savings account interest.
They charge a "finder's fee" to the bank who eventually loans money to the customer.
How do check cashing services make a profit?
They charge a higher interest rate than they pay in savings account interest.
They charge their customers a fee for the service.
They charge a "finder's fee" to the bank who eventually loans money to the customer.
They charge a high interest rate.
Which of the following types of financial institutions cash checks mainly for people who don't have checking or savings accounts?
credit unions
banks
payday lenders
check cashing services
How do mortgage companies make a profit?
They charge a "finder's fee" to the bank who eventually loans money to the customer.
They charge a high interest rate.
They charge a higher interest rate than they pay in savings account interest.
They are non-profit companies, so they don't make a profit.
Which of the following is NOT a typical fee charged by a bank or credit union?
Notary public fee
Overdraft fee
Minimum balance fee
ATM fee
Which of the following is NOT a way to avoid an overdraft charge?
Maintain a higher balance
link your checking account to a savings account
visit the branch within 1 business day after the overcharge to have the fee removed.
maintain an accurate balance in your checking account.
Banks are always trying to remove costs. Which of the following strategies fees are designed to encourage you save the bank money?
Overdraft fee
debit card fee
ATM fee
Paper fee
Which of the following best describes a cashier’s check?
a check drawn from the customer’s funds
a check that is drawn from the bank’s own funds
an official of integrity appointed by state government
a small box or container store inside a bank’s vault
High service fees
Often disguised with a low price
Data sealed in a code
Designed to block unauthorized access while permitting outward communication
A type of fraud that uses a person's private identifying information
Weak password
Includes all of the following: an uppercase letter, a lowercase letter, a number, and a special character such as $@*:
Your birthdate, your initials, anything with your birth year, family members names, pet names, and qwerty
Identity Theft
Set of temporary files your web browser stores
Data sealed in a code
A type of fraud that uses a person's private identifying information
Often disguised with a low price
Antivirus software
Set of temporary files your web browser stores
Software used to prevent, detect and remove malicious software
Usually involves misrepresenting a product in order to trick a customer into making a purchase
Designed to block unauthorized access while permitting outward communication
Strong password
Includes all of the following: an uppercase letter, a lowercase letter, a number, and a special character such as $@*:
Your birthdate, your initials, anything with your birth year, family members names, pet names, and qwerty
Firewall
Designed to block unauthorized access while permitting outward communication
Often disguised with a low price
Software used to prevent, detect and remove malicious software
Set of temporary files your web browser stores
Browser cache
Designed to block unauthorized access while permitting outward communication
Often disguised with a low price
Software used to prevent, detect and remove malicious software
Set of temporary files your web browser stores
Fraud
Designed to block unauthorized access while permitting outward communication
Usually involves misrepresenting a product in order to trick a customer into making a purchase
International deception of a person or entity by another made for monetary or personal gain
Data sealed in a code
Unethical Sales Practices
International deception of a person or entity by another made for monetary or personal gain
Usually involves misrepresenting a product in order to trick a customer into making a purchase
Set of temporary files your web browser stores
A type of fraud that uses a person's private identifying information
