Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Wise Pre-test # 3
Test Description: Wise
Instructions: Answer all questions to get your test result.
1) Which institution(s) charge the highest interest rates on loans:
A
d. payday lenders and finance companies
B
Pay Yourself First: automatically route money from paycheck to savings
C
b. Credit Unions
D
c. car loan payments
2) Overdraft protection is a feature offered by banks to keep your checking account from over-drafting
A
when you write a check or swipe your debit card but don't have enough money in your account
B
a. paying off old fixed-rate loans
C
working in their jobs for less than five years
D
credit union: member owned co-operative financial institution – advantage is lower interest rates on loans
3) what happens if you cash a CD before maturity
A
penalty if cashed before maturity
B
people should work on having a 6 month emergency fund that may need for .
C
buying a summer home
D
buying a second car
4) which of the following is a sign that a person is having financial problems
A
changing jobs for a higher salary
B
having high car expenses
C
paying bills with credit card cash advance
D
using checks to pay for bills
5) Finance companies charge higher interest rates to borrow money than banks because they generally.
A
do not check the customers's credit report
B
. deal with high risk customer with low credit ratings
C
offer a variety of services not available at banks
D
have branches in every state
6) when a person uses a debit card, the bank immediately
A
deducts the amount of money spent from the savings or checking account
B
deducts the amount of money spent when the accountss monthly statement is issued.
C
treats the money spent the same as a cash advance by charging a high rate of interest.
D
charges interest on the money spent to the persona savings or checking account.
7) when a bank is a federal deposit Insurance corporation (FDIC), the FDIC
A
allows bank depositors to buy law cost life insurance
B
insures bank deposits for each customer up to the legal limit 250000
C
protects a bank account from being closed in the event of personal bankruptcy
D
permits bank accounts to earn the highest interest rate available.
8) One way to establish credit is to
A
take a small loan using a savings account as collateral and pay it back on time
B
b. obtain a reference letter from an employer
C
directly deposit a paycheck in a saving account
D
make a major purchase with cash rather than using credit cards.
9) On January 1, $1000.00 was deposited in each of three separate savings accounts with an interest rate of %2. At the end of the year , which account will have the most amount of money.
A
account paying interest compounded never
B
account paying interest compounded yearly
C
account paying interest compounded daily
D
b. account paying interest compounded quarterly
10) A friend ask you to go to the bank and co-sign a loan. CO-sigining a loan means
A
you are promising the bank that your friend will repay the loan
B
If your friend does not repay the loan, you are legally required to pay the balance owed.
C
you are warning the bank that your friend is a risk
D
when your friend repays the loan both he and you have an improvement in your credit.
11) When should you Reconciling your Checking account
A
Every Day
B
Savings and checking accounts are most liquid
C
Once a Year
D
At the end on the month, to know what your current balance and check for errors
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?