Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
D/S Unit 1 Test Review
Test Description: Banking Saving Test Review
Instructions: Answer all questions to get your test result.
1) When you are in high school, you won't ever need an emergency fund
A
True
B
False
2) Your emergency fund should be kept in the same place as your spending money.
A
True
B
False
3) A fully-funded emergency fund is 3-6 months worth of expenses
A
False
B
True
4) You save for 3 basic reasons: emergency funds, purchases, and vacations.
A
True
B
False
5) Americans have a negative savings rate which means they spend more than they save
A
False
B
True
6) Your emergency fund is considered an investment
A
True
B
False
7) The bank will charge a fee for overdrafts on your account
A
False
B
True
8) Your bank statement balance will always match your check register balance.
A
True
B
False
9) Credit Unions are similar to banks, except they pay dividends to their members if there is extra profit.
A
True
B
False
10) 70% of Americans live paycheck to paycheck and have no savings
A
True
B
False
11) At your age, an emergency fund should have
A
$500
B
$2000
C
$5000
D
$100
12) If your monthly expenses were $3,000, your fully funded emergency fund should be
A
$9,000-$18,000
B
$3,000-$9,000
C
$3,000-$6,000
D
$6,000-$9,000
13) Instead of borrowing money for purchases, you should set money aside in a ___ over time and pay with cash
A
emergency fund
B
sinking fund
C
money market account
D
credit card
14) The saving habits of Ben and Arthur (video) best illustrate which principle of saving? *
A
none of these
B
length of time money is invested matters
C
rate of return matters
D
initial investment is key
15) Which of the following is NOT a reason your emergency fund should be kept in a separate account away from your spending money?
A
so that it is clear what money is only to be used for emergencies
B
so your emergency fund savings can earn a lot of interest
C
so that you do not get your spending and saving money confused
D
so that it is not too easy to access
16) What does it mean to have a negative savings rate?
A
saving for something that is a want instead of a need
B
having no savings at all
C
spending more money than you make and acquiring debt
D
having a fully funded emergency fund
17) Which of the following is a consequence of overdrawing our checking account?
A
all the answers
B
bounced check fee from the store
C
overdraft fee from the bank
D
stress from money mismanagement
18) Which of the following account records would have the most current balance
A
your own account register
B
all of the answers
C
your monthly bank statement
D
account balance statement from the ATM
19) Which of these services is NOT typically offered by a bank?
A
credit cards
B
loans
C
all of these are typically offered by a bank
D
debit cards
20) When you want to make a large purchase, how should you pay for it?
A
with your emergency fund
B
with a credit card
C
with your sinking fund
D
you should not make large purchases, you should be saving instead
*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?