Question
1) Which of the following is an advantage of owning a bank account?
Group of answer choices
You will double the amount of money you have
You are guaranteed to get a loan
You can be irresponsible with your money
You know your money is safe
Flag question: Question 2
Question 21 pts
2) The US government protects up to ____________ of customers money with of licensed banks.
Group of answer choices
$200,000
$150,000
$100,000
$250,000
Flag question: Question 3
Question 31 pts
3) With a bank account, you will be able to show that you are ______________ with your money.
Group of answer choices
Responsible
Reliable
Dependable
Mature
Flag question: Question 4
Question 41 pts
4) Which of the following is an account for depositing money you want to keep?
Group of answer choices
Credit line
Savings
Checking
Certificate of deposit
Flag question: Question 5
Question 51 pts
5) Which of the following is an advantage of a savings account?
Group of answer choices
Your bank will not charge you fees
Your bank will make you a preferred customer
Your bank will pay you interest
Your money will be locked away
Flag question: Question 6
Question 61 pts
6) When opening a new checking account, which of the following will you need to bring with you to the bank?
Group of answer choices
Verification of Employment
Parent or Guardian
Cash or check made out to you
A valid U.S. Passport
Flag question: Question 7
Question 71 pts
7) Your bank will send you an account statement __________.
Group of answer choices
Weekly
Yearly
Monthly
Quarterly
Flag question: Question 8
Question 81 pts
8) Which of the following should be included when you make an entry in your checkbook register?
Group of answer choices
All of the above
Amount Involved
Date of Transaction
Check Number
Flag question: Question 9
Question 91 pts
9) You can access your account from nearly anywhere in the world through ________.
Group of answer choices
PIN
Debit Cards
Checks
ATMs
Flag question: Question 10
Question 101 pts
10) ___________________ a type of deposit that typically pays higher rates of interest than a savings account, on the condition that you agree not to withdraw your money for a certain amount of time.
Group of answer choices
Certificate of deposit
Credit line
Savings
Checking
Flag question: Question 11
Question 111 pts
11) Your employer may use _______________ to deposit your paycheck directly in your account.
Group of answer choices
Direct Deposit
Electronic Funds Transfer
Pay-by-Phone
Electronic Check Conversion
Flag question: Question 12
Question 121 pts
12) Which of the following is a requirement for a loan?
Group of answer choices
Minimum cash available in your savings account
Good credit history
A high school diploma
Good job
Flag question: Question 13
Question 131 pts
13) Which of the following should be considered when choosing a bank?
Group of answer choices
What are the fees?
All of the above
Is ATM available while traveling?
How many credit cards are available?
Flag question: Question 14
Question 141 pts
14) Which of the following financial institution should you use if you are looking for a higher interest rate and belong to a professional organization such as teachers?
Group of answer choices
Credit union
Commercial bank
Investment bank
Online bank
Flag question: Question 15
Question 151 pts
15) Deposits at a credit union are insured by the ___________________.
Group of answer choices
Federal Credit Union Company (FCUC)
National Credit Union Administration (NCUA)
Federal Deposit Insurance Corporation (FDIC)
Federal Credit Union Insurance Company (FCIC)
Flag question: Question 16
Question 161 pts
16) When choosing a bank, make sure the bank you choose is insured by the ______________.
Group of answer choices
National Credit Union Administration (NCUA)
Federal Deposit Insurance Corporation (FDIC)
Federal Credit Union Insurance Company (FCIC)
Federal Credit Union Company (FCUC)
Flag question: Question 17
Question 171 pts
17) When writing a check, which of the following should be written in the top right corner?
Group of answer choices
Payee
Date of the check
Reason for the check
Amount of the check
Flag question: Question 18
Question 181 pts
18) Which of the following is information on your check:
Group of answer choices
Savings account number
Check number
Drivers license number
Social Security Number
Flag question: Question 19
Question 191 pts
19) A deposit slip needs to be filled out:
Group of answer choices
When opening a checking account
When writing a check
Each time you add money to your account
Each time you remove money from your account
Flag question: Question 20
Question 201 pts
20) Which of the following is a common error found when reconciling your checkbook register?
Group of answer choices
Failing to record the amount of a check
Accurately recording a deposit
Not listing names on checks
Not using savings deposits
Flag question: Question 21
Question 211 pts
21) Which of the following is an advantage of electronic banking?
Group of answer choices
Having to visit a bank
Carrying a lot of cash
Insecurity of your online account information
The personal safety of not having to carry a lot of cash.
Flag question: Question 22
Question 221 pts
22) Which of the following is a reason why online banking and bank statements aren’t as accurate as your checkbook register?
Group of answer choices
Online banking is always several days behind
Checks you write take a few days to clear
Banks do not account for fees on your statements
Banks do not recognize all your transactions
Flag question: Question 23
Question 231 pts
23) Which of the following Electronic Funds Transfer is a convenient way to conduct deposits and withdrawals?
Group of answer choices
Pay-by-Phone
Direct Deposit
ATM
Electronic Check Conversion
Flag question: Question 24
Question 241 pts
24) If you use an ATM facility not affiliated with your bank, you can incur a ______.
Group of answer choices
Fee
Tariff
Bonus
Payment
Flag question: Question 25
Question 251 pts
25) Which of the following Electronic Funds Transfer deducts funds from your account immediately?
Group of answer choices
Prepaid Debit Card
ATM Machine
Direct Deposit
Debit Card
Group of answer choices
You will double the amount of money you have
You are guaranteed to get a loan
You can be irresponsible with your money
You know your money is safe
Flag question: Question 2
Question 21 pts
2) The US government protects up to ____________ of customers money with of licensed banks.
Group of answer choices
$200,000
$150,000
$100,000
$250,000
Flag question: Question 3
Question 31 pts
3) With a bank account, you will be able to show that you are ______________ with your money.
Group of answer choices
Responsible
Reliable
Dependable
Mature
Flag question: Question 4
Question 41 pts
4) Which of the following is an account for depositing money you want to keep?
Group of answer choices
Credit line
Savings
Checking
Certificate of deposit
Flag question: Question 5
Question 51 pts
5) Which of the following is an advantage of a savings account?
Group of answer choices
Your bank will not charge you fees
Your bank will make you a preferred customer
Your bank will pay you interest
Your money will be locked away
Flag question: Question 6
Question 61 pts
6) When opening a new checking account, which of the following will you need to bring with you to the bank?
Group of answer choices
Verification of Employment
Parent or Guardian
Cash or check made out to you
A valid U.S. Passport
Flag question: Question 7
Question 71 pts
7) Your bank will send you an account statement __________.
Group of answer choices
Weekly
Yearly
Monthly
Quarterly
Flag question: Question 8
Question 81 pts
8) Which of the following should be included when you make an entry in your checkbook register?
Group of answer choices
All of the above
Amount Involved
Date of Transaction
Check Number
Flag question: Question 9
Question 91 pts
9) You can access your account from nearly anywhere in the world through ________.
Group of answer choices
PIN
Debit Cards
Checks
ATMs
Flag question: Question 10
Question 101 pts
10) ___________________ a type of deposit that typically pays higher rates of interest than a savings account, on the condition that you agree not to withdraw your money for a certain amount of time.
Group of answer choices
Certificate of deposit
Credit line
Savings
Checking
Flag question: Question 11
Question 111 pts
11) Your employer may use _______________ to deposit your paycheck directly in your account.
Group of answer choices
Direct Deposit
Electronic Funds Transfer
Pay-by-Phone
Electronic Check Conversion
Flag question: Question 12
Question 121 pts
12) Which of the following is a requirement for a loan?
Group of answer choices
Minimum cash available in your savings account
Good credit history
A high school diploma
Good job
Flag question: Question 13
Question 131 pts
13) Which of the following should be considered when choosing a bank?
Group of answer choices
What are the fees?
All of the above
Is ATM available while traveling?
How many credit cards are available?
Flag question: Question 14
Question 141 pts
14) Which of the following financial institution should you use if you are looking for a higher interest rate and belong to a professional organization such as teachers?
Group of answer choices
Credit union
Commercial bank
Investment bank
Online bank
Flag question: Question 15
Question 151 pts
15) Deposits at a credit union are insured by the ___________________.
Group of answer choices
Federal Credit Union Company (FCUC)
National Credit Union Administration (NCUA)
Federal Deposit Insurance Corporation (FDIC)
Federal Credit Union Insurance Company (FCIC)
Flag question: Question 16
Question 161 pts
16) When choosing a bank, make sure the bank you choose is insured by the ______________.
Group of answer choices
National Credit Union Administration (NCUA)
Federal Deposit Insurance Corporation (FDIC)
Federal Credit Union Insurance Company (FCIC)
Federal Credit Union Company (FCUC)
Flag question: Question 17
Question 171 pts
17) When writing a check, which of the following should be written in the top right corner?
Group of answer choices
Payee
Date of the check
Reason for the check
Amount of the check
Flag question: Question 18
Question 181 pts
18) Which of the following is information on your check:
Group of answer choices
Savings account number
Check number
Drivers license number
Social Security Number
Flag question: Question 19
Question 191 pts
19) A deposit slip needs to be filled out:
Group of answer choices
When opening a checking account
When writing a check
Each time you add money to your account
Each time you remove money from your account
Flag question: Question 20
Question 201 pts
20) Which of the following is a common error found when reconciling your checkbook register?
Group of answer choices
Failing to record the amount of a check
Accurately recording a deposit
Not listing names on checks
Not using savings deposits
Flag question: Question 21
Question 211 pts
21) Which of the following is an advantage of electronic banking?
Group of answer choices
Having to visit a bank
Carrying a lot of cash
Insecurity of your online account information
The personal safety of not having to carry a lot of cash.
Flag question: Question 22
Question 221 pts
22) Which of the following is a reason why online banking and bank statements aren’t as accurate as your checkbook register?
Group of answer choices
Online banking is always several days behind
Checks you write take a few days to clear
Banks do not account for fees on your statements
Banks do not recognize all your transactions
Flag question: Question 23
Question 231 pts
23) Which of the following Electronic Funds Transfer is a convenient way to conduct deposits and withdrawals?
Group of answer choices
Pay-by-Phone
Direct Deposit
ATM
Electronic Check Conversion
Flag question: Question 24
Question 241 pts
24) If you use an ATM facility not affiliated with your bank, you can incur a ______.
Group of answer choices
Fee
Tariff
Bonus
Payment
Flag question: Question 25
Question 251 pts
25) Which of the following Electronic Funds Transfer deducts funds from your account immediately?
Group of answer choices
Prepaid Debit Card
ATM Machine
Direct Deposit
Debit Card
Answers
GPT-4o mini
Here are the answers to your multiple-choice questions:
1) **You know your money is safe** (correct answer)
2) **$250,000** (correct answer)
3) **Responsible** (correct answer)
4) **Savings** (correct answer)
5) **Your bank will pay you interest** (correct answer)
6) **Cash or check made out to you** (correct answer)
7) **Monthly** (correct answer)
8) **All of the above** (correct answer)
9) **ATMs** (correct answer)
10) **Certificate of deposit** (correct answer)
11) **Direct Deposit** (correct answer)
12) **Good credit history** (correct answer)
13) **All of the above** (correct answer)
14) **Credit union** (correct answer)
15) **National Credit Union Administration (NCUA)** (correct answer)
16) **Federal Deposit Insurance Corporation (FDIC)** (correct answer)
17) **Date of the check** (correct answer)
18) **Check number** (correct answer)
19) **Each time you add money to your account** (correct answer)
20) **Failing to record the amount of a check** (correct answer)
21) **The personal safety of not having to carry a lot of cash** (correct answer)
22) **Checks you write take a few days to clear** (correct answer)
23) **ATM** (correct answer)
24) **Fee** (correct answer)
25) **Debit Card** (correct answer)
Feel free to ask if you need additional information or explanations!
1) **You know your money is safe** (correct answer)
2) **$250,000** (correct answer)
3) **Responsible** (correct answer)
4) **Savings** (correct answer)
5) **Your bank will pay you interest** (correct answer)
6) **Cash or check made out to you** (correct answer)
7) **Monthly** (correct answer)
8) **All of the above** (correct answer)
9) **ATMs** (correct answer)
10) **Certificate of deposit** (correct answer)
11) **Direct Deposit** (correct answer)
12) **Good credit history** (correct answer)
13) **All of the above** (correct answer)
14) **Credit union** (correct answer)
15) **National Credit Union Administration (NCUA)** (correct answer)
16) **Federal Deposit Insurance Corporation (FDIC)** (correct answer)
17) **Date of the check** (correct answer)
18) **Check number** (correct answer)
19) **Each time you add money to your account** (correct answer)
20) **Failing to record the amount of a check** (correct answer)
21) **The personal safety of not having to carry a lot of cash** (correct answer)
22) **Checks you write take a few days to clear** (correct answer)
23) **ATM** (correct answer)
24) **Fee** (correct answer)
25) **Debit Card** (correct answer)
Feel free to ask if you need additional information or explanations!