
3.3 Fa HW Checking Accounts
Authored by darek tillman
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12th Grade
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16 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is a checking account?
A type of bank account that offers easy access to deposited funds
A type of bank account that pays high interest rates
A type of bank account that restricts withdrawals and deposits
A type of bank account that is only used for monthly bills
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Why do checking accounts typically pay low interest rates?
Because they allow unlimited withdrawals and deposits
Because they have high minimum balance requirements
Because they are only used for ordinary purchases
Because they are not insured by the FDIC
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What are the convenient ways to access the money in a checking account?
Write checks, make purchases with a debit card, make withdrawals and deposits with an ATM card
Visit your local branch, use online bill pay service, set up automatic payments
Transfer funds to and from other bank accounts
All of the above
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Where can you find free checking accounts?
Large brick-and-mortar banks
Community banks and credit unions
Online banks
All of the above
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What does free checking mean?
No monthly maintenance fee and/or minimum balance requirements
No overdraft charges and other fees
No direct deposit requirement
No interest earned on the account
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is an interest-bearing checking account?
An account that allows unlimited withdrawals and deposits
An account that pays interest rates
An account that requires a minimum balance
An account that restricts debit card transactions
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What is a joint checking account?
A bank account shared by two or more people
A bank account that requires a minimum balance
A bank account that pays high interest rates
A bank account that restricts withdrawals
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