Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
New Banking/credit Test 1st
Test Description: Missed exam questions
Instructions: Answer all questions to get your test result.
1) You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money?
A
Compounding daily
B
Compounding monthly
C
Improve the quality of life in low-income communities
D
Compounding Yearly
2) Joan wants to open a checking account and wonders if checking accounts pay interest. How would you answer her question?
A
Checking accounts pay interest if the account balance does not fall below $300.00
B
All checking accounts pay interest
C
Some types of checking accounts pay interest
D
Checking accounts never pay interest
3) When a person is reconciling a checking account and notices that the balance in the checkbook does not match the balance on the statement from the bank, which action is it appropriate for the person to take first?
A
Deposit sufficient funds to adjust the balance in the checkbook to match the bank's balance.
B
Notify the bank in writing to adjust the statement.
C
Determine that checks already written have cleared.
D
Adjust the balance in the checkbook so it is the same as the bank's balance.
4) Which type of financial institution usually pays the highest rate of interest on savings account balances?
A
Commercial banks
B
Savings and loan associations
C
Credit unions
D
Investment firm money market accounts
5) A fee charged for the use of credit
A
NO one
B
Finance Charge/Interest
C
FDIC 250,0000
D
Banks
6) Are check cashing service a good Idea _____, (1 point) Yes or No
A
sometimes
B
NO !!!!!!!
C
Yes
D
Maybe
7) Most ________are issued with an interest rate that is fixed , and has the most predictable income?
A
Pawn shops
B
No one is
C
check cashing
D
Certificate of deposit
8) Benefits of opening a bank account are many. Bank accounts are safe places to store money, allow various ways to access and use that money, and __________.
A
IRS collecting our taxes
B
FDIC protecting 400,000 of our money
C
all above
D
establish good credit for the future
9) A person pawns a watch and receives $100, a month later the person pays back 120. the 20 is consider
A
Interest on the loan
B
Checking accounts
C
250000
D
Money Market savings/checking accounts
10) Which of the following are Discretionary income
A
car payment
B
movie tickets
C
student loan
D
Rent
11) How long does bankruptcy stay on your credit report for
A
10 years
B
3 Years
C
none
D
3-7 days
12) Gift Card expire after
A
2 weeks
B
5 years
C
FDIC 250000
D
Never
*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?