Understanding Personal Finance Decisions

What is the primary purpose of a checking account?

• To earn high interest

• To manage daily transactions

• To invest in stocks

• To save for retirement

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DOK Level 1: Recall

What is the unit price of a 6-pack of soda that sells for $12?

• $6

• $2

• $1

• $3

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DOK Level 1: Recall

How can comparison shopping benefit you when making a purchasing decision?

• It helps you find the lowest price

• It guarantees the best quality

• It ensures you buy the most popular brand

• It allows you to avoid taxes

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DOK Level 2: Skill/Concept

Which factor is most likely to influence your financial decision-making process?

• Peer pressure

• Weather conditions

• Time of day

• Color of the product

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DOK Level 3: Strategic Thinking

Why is it important to have financial goals for the future?

• To ensure you spend all your money

• To guide your saving and spending decisions

• To avoid paying taxes

• To impress others

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DOK Level 3: Strategic Thinking

What is the risk associated with using peer-to-peer payment apps?

• High transaction fees

• Potential for fraud

• Limited availability

• Slow processing times

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DOK Level 2: Skill/Concept

How do you deposit money into a checking account?

• By writing a check

• By using a deposit slip at a bank

• By withdrawing cash from an ATM

• By using a credit card

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DOK Level 1: Recall

When analyzing a checking account statement, what should you look for to ensure accuracy?

• The color of the statement

• The number of pages

• The balance and transaction details

• The font size used

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DOK Level 3: Strategic Thinking

What is another name for the total in your checking account?

• deposit

• void

• withdrawal

• balance

Do checking accounts come with any fees?

• No, they are completely fee-free

• Yes, they may have overdraft, ATM, and monthly maintenance fees

• No, but they have high minimum balance requirements

• Yes, but only for senior citizens