AnswersOK-Personal Financial Literacy S1 – EDGNTY-83861 26-27Budgeting

Banking: How to Manage Your Money Answers

0 verified answers1 views
1
Free Preview

In which situation would a savings bond be the best investment to earn interest?

A
if you need access to your cash quickly
B
if you are saving each month for a new car
C
if you are putting aside a chunk of money to purchase a house in five years
D
saving to pay a tax bill in four months
2
Free Preview

Many checking accounts offer multiple ways of accessing money in addition to checks. Which of these can be used to access money in a checking account?

A
debit card
B
credit card
C
certificate of deposit
D
passbook
3

Alex has not been keeping his banking records up to date. On his latest bank statement, he found that he had been charged an overdraft fee for writing a bad check. In addition to his being charged a fee, which of these is another possible consequence of an overdraft?

A
The bank will close the merchant's account.
B
The merchant who received his check will be charged an overdraft fee.
C
The bank will cancel his debit card.
D
The merchant who received his check will expect repayment and a penalty fee.
4

What is the major difference between a nationwide bank and a community bank?

A
The community bank offers more services.
B
The nationwide bank services only local customers.
C
The nationwide bank has fewer branches.
D
The community bank services only local customers.

Did you find these answers helpful?

More from this Course

Quiz
10 verified answers

Budgeting

Quiz
10 verified answers

Budgeting

Quiz
10 verified answers

Budgeting