WorksheetsDebit and Credit Open Book Test
Total questions: 12
Worksheet time: 10mins
A bank is a not-for-profit financial institution.
A) True
B) False
You order your favorite foot-long sandwich with chips and a drink using your debit card. The total comes to $5.68. Your online statement shows a charge of $40.68. The extra amount is an overdraft fee.
A) True
B) False
A credit card provides preapproved credit.
A) True
B) False
Internet banking means using a bank branch to make deposits and withdrawls.
A) False
B) True
The lower an applicant's credit score, the lower the risk to the lender.
A) True
B) False
Identity theft is a threat to anyone with a good credit rating.
A) True
B) False
An example of a financial institution is
a) A department store
b) A bank
c) A school
d) An ATM machine
Who uses financial institutions?
a) Adults
b) College gradutes
c) Almost everyone who maintains a savings or checking account, uses debit or credit cards, or needs a loan
d) Account holders with lots of cash
9) Identify the incorrect statement.
a) A debit card allows for an immediate electronic transfer of money from a cardholder's savings or checking account.
b) A debit card is essentially a paper check but doesn't require the processing time a check does.
c) A debit card is handy in an emergency when you don't have the money to spend.
d) A debit card is a pay-now payment type with no grace period for payments.
To keep your account safe, create a strong password when banking online. Name two additional safety tips when banking online.
_____________ ____________ is an electronic way to view account activity and pay bills via the Internet and an institution's website.
(a)
Lenders use credit agencies to determine:
a) An applicant's credit score
b) An applicant's credit history
c) Whether an applicant has any outstanding debt or defaults
d) All of the above
