Personal Finance Banking Question Preview (ID: 40000)


Personal Finance. TEACHERS: click here for quick copy question ID numbers.

Which type of account typically has low liquidity?
a) Checking Account
b) Savings Account
c) Money Market Account
d) Certificate of Deposit (CD)

Which of the following is NOT a core component of the Federal Reserve Bank?
a) Board of Governors
b) Regional Reserve Banks
c) Federal Open Market Committee
d) Department of the Treasury

How often should you typically monitor your checking account?
a) Yearly
b) Monthly
c) Every three months
d) Daily

Which of the following is not a type of bank?
a) Credit Union
b) Online Bank
c) Payday Lender
d) Retail Bank

The numbers on the bottom of a typical check represent all of the following EXCEPT?
a) Social Security Number
b) Routing Number
c) Account Number
d) Check Number

Which of the following is a primary responsibility of the Federal Reserve Bank?
a) Establish monetary policy
b) Write monetary laws
c) Collect taxes
d) Print money

Which of the following fees would likely be the highest?
a) Overdraft fee
b) Account transfer fee
c) Monthly service fee
d) ATM fee

Which type of account will typically have the highest interest rate?
a) Checking Account
b) Savings Account
c) Money Market Account
d) Certificate of Deposit (CD)

Which type of financial institution typically has membership requirements?
a) Credit Union
b) Online Commercial Bank
c) Commercial Bank
d) Federal Reserve Bank

With a traditional savings account, you could be charged a fee if:
a) You deposit too much money at once
b) You withdraw money too often
c) You open an account online
d) You close the account

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