LXG Math Sum '24

Which of the following questions is true about a checking account?

• You must pay interest on your checking account.

• A checking account is a form of credit.

• A checking account is your money and you can use it how you want.

• You must ask for the bank's permission to write a check to make a purchase..

What type of writing instrument should you use to write a check?

• Any color pen

• Black/blue ink pen

• Colored pencil

• Mechanical Pencil

What is the difference between a withdrawal and a deposit?

• A withdrawal is when you put money in your account while a deposit is when you take money out.

• A deposit is when you put money in your account while a withdrawal is when you take money out.

• You put money in your account for a withdrawal and a deposit.

• You take money out of your account for a withdrawal and a deposit.

Which of the following is not the name of one of the three credit bureaus?

• Credit Karma

• Equifax

• Experian

• Transunion

Money is withdrawn directly from your savings or checking account. Which type of card is described?

• Credit Card

• Debit Card

• Credit and Debit Card

• Gift Card

What makes up the largest portion of your credit score?

• Mix of credit

• Length of credit

• Payment history

• New credit

What is the highest possible credit score?

• 800

• 850

• 750

• 775

It is ok to apply for several new credit cards within a short period of time as long as you have a good credit score.

• True

• False

If you decide to close a credit card, which should you close first?

• The one you've had the longest

• The newest one

• It does not matter

• You should never close a card.

For which type of card must you pay interest for using?

• Credit Card

• Debit Card

• Gift Card

• CashApp Card