WorksheetsBanking Notes pg. 4-5
Total questions: 10
Worksheet time: 5mins
Why should you reconcile your checking account?
To avoid paying taxes.
To find errors or unauthorized activity.
To increase your credit score.
To earn interest on your balance.
What is one advantage of automating your savings?
It requires manual transfers.
It allows you to pay yourself first.
It decreases your savings rate.
It incurs additional fees.
What should you do to stay informed about changes in your bank account?
Ignore bank notifications.
Read bank letters and notifications.
Only check your account once a year.
Rely on word of mouth.
What is a reason to use security features on your bank account?
To increase transaction fees.
To monitor unusual purchases.
To decrease your credit score.
To limit account access.
Which companies offer payment apps and online payment services?
Facebook, Apple, Google, and Samsung
Microsoft, IBM, Intel, and Dell
Amazon, Netflix, Hulu, and Spotify
Nike, Adidas, Puma, and Reebok
Which of the following is NOT a feature of payment apps and online payment services?
They charge fees
They are banks
They allow fee-free payments to friends and family
They are offered by tech companies
What is a common feature of check cashing stores?
They offer free check cashing
They charge a service fee, usually a percentage
They require a bank account
They only cash personal checks
Who typically uses check cashing stores?
People with bank accounts
People without a bank account
People with high credit scores
People who own businesses
What is a characteristic of payday lenders?
Low interest rates
Incredibly high APR
No interest rates
Fixed interest rates
Which payment service is NOT mentioned in the document?
Paypal
Xoom
Venmo
Stripe
