PF 4.02 Review Question Preview (ID: 11276)


Review Questions For 4.02. TEACHERS: click here for quick copy question ID numbers.

How do credit unions and brokerage firms compare?
a) Both are insured by NCUA
b) Brokerage firms are nonprofit financial cooperatives; credit unions are not
c) Brokerage firms are not licensed; credit unions are
d) Brokerage firms specialize in buying and selling stocks; credit unions do not

Jake has anaccount he can deposit and withdraw money, write checks, & receive a monthly statement. What type of account is this?
a) Checking account
b) Retirement plan account
c) Savings account
d) Share account

Darlene needs to borrow money to buy a townhome. What type of financial service would meet this need?
a) Credit card
b) Financial counseling
c) Mortgage
d) Safe-deposit box

An advantage of E-banking over traditional banking is that:
a) E-banking is faster and accepted worldwide.
b) paying by personal check is safer than by point-of-sale transfer.
c) PIN numbers are a better security protection than personal check signatures.
d) theft and fraud are less likely to happen with E-banking.

Vera authorized the bank to pay her phone bill each month from her account. Which E-banking service is this?
a) Automated Teller Machine (ATM)
b) Direct withdrawal
c) Point-of-sale transfer
d) Smart card

Sheila is ready to reconcile her bank statement with her check record. What should she do?
a) Add checks outstanding and subtract deposits made since statement
b) Add deposits made and checks written since statement
c) Add deposits outstanding and subtract checks written since statement
d) Subtract checks written and deposits made since statement

Ralph wants to protect his debit card from fraud. What should he do?
a) Allow his friends his card instead of cash when needed
b) Leave the back of the card blank
c) Write his PIN on the back of his card
d) Write

Jacob needs a personal check guaranteed by the bank for the purchase of a used car. Which is the BEST method of payment?
a) Certified check
b) Money order
c) Personal check
d) Share draft account

Justin doesn't have a bank account and needs to mail a payment to a person out of state. Which is the BEST method of payment?
a) Money order
b) Personal check
c) Share draft account
d) Traveler's check

George loaded $200 on a plastic card for his daughter to purchase clothes at the mall. Which E-banking service is this?
a) Automated Teller Machine (ATM)
b) Direct deposit
c) Point-of-sale transfer
d) Smart card

Play Games with the Questions above at ReviewGameZone.com
To play games using the questions from above, visit ReviewGameZone.com and enter game ID number: 11276 in the upper right hand corner or click here.

TEACHERS / EDUCATORS
Log In
| Sign Up / Register