If you see "pending" on an account charge, that means . . .

It hasn't been fully processed yet

You need to make a deposit before it is paid

It is suspected of being a fraudulent charge

Distrust, unemployment, and bank fees are a few excuses people give for . . .

Not having a savings or checking account

Not making and sticking to a budget

Not looking for work when their checking account is getting low

If you prefer great customer service and lower fees . . .

A small, local bank is often a great option

You should use the check cashing service at a large retailer

A large, national bank is for you

You should jump from bank to bank until you find the perfect match

With online banks, all of your deposits, transfers, and bill payments happen digitally, but . . .

It's often more difficult to get in touch with a real person when you need assistance

Online banks should never be trusted

These banks do not offer interest on savings accounts

They do not provide a debit card

With certificates of deposit (CDs), you have to pay a penalty for _______________.

Depositing money into the account

How quickly and easily you can access your money

A great way to find a financial service that's right for you

When you deposit silver or gold and they liquify it for you

How money flows from bank to bank

Balancing your checking account is a lot like working on your budget because . . .

They both get easier and build money confidence the more you do them

They both lose you money in the long run

Something that all of the predatory fnancial services have in common is . . .

You end up losing money with all of them

They all require you to take out a loan

They all require you to be a college graduate

People can earn money with all of them

Banks invest their customers' deposited money and then . . .

Earn interest, paying the customer a small amount of interest on their accounts

Earn interest, keeping all of it as their own profit

Typically lose some of it in risky investment deals

Pay their customers 100% of the earned interest

When deciding on the right bank for you, you should first identify what type of bank you want, the features that matter most to you, and _______________.

What type of home you want to own someday

How large your savings account is

If you want to go to an Ivy League or community college

What does it mean to be blacklisted by a bank?

The bank doesn't allow you to open an account because you handled money poorly in the past and couldn't pass their financial background check.

They have decided to charge you extra fees and limited the services available to you.

You passed the financial literacy test and they offer to pay you for banking with them.

They promise you a higher credit score in exchange for a 15% interest rate on your investments.

Overdraft protection sounds like a good idea . . .

But you have to pay back the deposited money with interest

But it will ruin your credit score

Make sure your bank has plenty of _______________ and _______________.

ATM locations; a mobile banking app

Insurance; monthly maintenance fees

Security breaches; foreign transaction fees

You need to track everything that involves money, including . . .

Debit card purchases, third-party app transactions, and ATM withdrawals

Your clothing budget for the month

All of the sales that are currently happening

The latest retail store credit card ofers

Personal Finance - Chapter 8: Multiple Choice

Authored by Ramsey Seweingyawma

Mathematics

9th - 12th Grade

CCSS covered

Used 2+ times

Personal Finance - Chapter 8: Multiple Choice

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30 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A bank can help you _ your money and keep it _.

Manage; safe

Find; growing

Deposit; budgeted

Budget; available

Some of the services banks offer include . . .

Paying of your student loan debt and saving for your future

Creating a personalized budget for you and managing your schedule

Teaching you how to handle your finances and encouraging you to cut up your credit cards

Mortgages, check writing, and debit cards

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A savings account is for _______________.

Investing your money

Regular spending

Long-term savings goals

The Entertainment budget line item

An easy way to avoid ending up with errors in your checking account is to simply . . .

Only use cash

Monitor your account at least twice a week

Keep all your receipts

Budget ofen

The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) keep your money in the bank insured up to _______________ per account.

250

2500

25000

250000

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Credit Unions differ from retail banks in that they typically require membership based on specific criteria.

True

False

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Your emergency fund should go in your checking account, NOT a money market account.

True

False

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Personal Finance - Chapter 8: Multiple Choice

A bank can help you _______________ your money and keep it _______________.

Some of the services banks offer include . . .

A savings account is for _______________.

An easy way to avoid ending up with errors in your checking account is to simply . . .

The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) keep your money in the bank insured up to _______________ per account.

Credit Unions differ from retail banks in that they typically require membership based on specific criteria.

Your emergency fund should go in your checking account, NOT a money market account.

If you see "pending" on an account charge, that means . . .

Distrust, unemployment, and bank fees are a few excuses people give for . . .

If you prefer great customer service and lower fees . . .

Access all questions and much more by creating a free account

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Discover more resources for Mathematics

A bank can help you _ your money and keep it _.