Which of the following is an effective strategy for personal saving?

Banking Quiz

Quiz
•
Financial Education
•
9th Grade
•
Hard
Stacy Gill
Used 11+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Wait until the end of the month and save whatever is left in your checking account
Save a percentage of each paycheck and deposit it directly into a savings account
Cover your wants and needs and save whatever is left over
Take out a payday loan so you can save before you receive your paycheck
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following statements about bank accounts are true, EXCEPT…
If the bank is FDIC-insured, your money, up to the FDIC limit, is safe even if the bank fails
Many banks pay interest on the money you deposit into your savings account
Historically, savings accounts earn higher returns than investments in the stock market
Money in a checking account is usually easy to access via ATM, debit card or check
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You are developing a savings plan and using short-, medium--, and long-term goals to motivate you. Which represents possible goals from short-term to long-term? Save for…
Retirement, a house down payment, college tuition
A new cell phone, college tuition, a house down payment
A new cell phone, dinner with friends this weekend, a new bike
Retirement, college tuition, a vacation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Fill in the blanks with the correct responses. If you follow the 50-30-20 rule of budgeting, you'll be putting 50% of your monthly income toward _______________, 30% of your monthly income toward _____________, and 20% of your monthly income toward ______________.
Needs, wants, savings
Savings, needs, wants
Needs, savings, wants
Wants, needs, savings
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement best describes a savings account?
This account offers a convenient way to pay bills and access cash from an ATM
This account pays you interest on money you have put away for later to help your money grow
This account is automatically debited when you use a debit card
This account typically allows an unlimited number of transactions per month
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You are at the checkout counter at the local supermarket and use your debit card to pay for your groceries. Where does the money for this purchase come from?
Your credit card company covers the cost
It is deducted directly from your checking account
Your credit card company provides you with a cash advance to cover the cost
It is deducted directly from your savings account
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jocelyn gets a text alert from the bank that her account balance has dropped below $100 after a series of $20 ATM withdrawals. She has not used her ATM in over a week and wonders what to do. What would you recommend?
Wait until her monthly statement arrives so she can check to see if those withdrawals are still there
Wait a week as it is fairly common for the bank to catch mistakes like this
Check her wallet to be sure her debit card has not been stolen. If she still has it, then she should not worry.
Contact her bank immediately as it appears that her account may have been hacked
Create a free account and access millions of resources
Similar Resources on Wayground
15 questions
Health and Life Insurance Quiz

Quiz
•
9th Grade - University
15 questions
Financial Planning Questions

Quiz
•
9th Grade
11 questions
NGPF: Types of Credit_Vocabulary

Quiz
•
9th - 12th Grade
12 questions
PF Unit 5 Review Lessons 1,4,6, & 7

Quiz
•
9th - 12th Grade
10 questions
Banking Concepts Quiz

Quiz
•
9th Grade
12 questions
Paying yourself First

Quiz
•
9th - 12th Grade
10 questions
How Ignoring This Advice Cost Me $1 Billion in My 30s

Quiz
•
9th - 12th Grade
20 questions
Alabama Financial Literacy Test

Quiz
•
9th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade