Pretest

Question 1

Which of these is a characteristic of certificates of deposit (CDs)?

Revolt · Accepted Answer

They last for a set period of time.

Question 2

Which of these is the best reason for Nina to monitor her bank account statements online or on her cell phone app?

Revolt · Accepted Answer

to know how much money she has for budgeting

Question 3

What is the best reason for Jacinta to have a savings account in addition to a checking account?

Revolt · Accepted Answer

A savings account keeps her money safe and separate from her spending money.

Question 4

What is one benefit of purchasing saving bonds?

Revolt · Accepted Answer

Saving bonds are purchased from the government and guaranteed to increase in value.

Question 5

Sofia has saved $10,000. She wants to be sure that she is earning interest on her money and can add to her savings. She also wants to be able to access her money if the need should arise. Which type of account is most suitable for Sofia’s needs?

Revolt · Accepted Answer

a money market account

Question 6

What does reconciling an account involve?

Revolt · Accepted Answer

checking one's financial records against the bank’s

Question 7

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

Revolt · Accepted Answer

if you are putting aside a chunk of money to purchase a house in five years

Question 8

Which of these is an advantage of checking accounts?

Revolt · Accepted Answer

Checking accounts allow convenient ways to deposit or withdraw funds.

Question 9

In which situation would a certificate of deposit (CD) be the best banking choice?

Revolt · Accepted Answer

Hafsa wants a guaranteed return, and won’t need the money for several years.

Question 10

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?

Revolt · Accepted Answer

debit card

Pretest Answers

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