What’s the purpose of balancing or monitoring your checking account?
Which of the following is a primary responsibility of the Federal Reserve Bank?
Savings accounts usually offer _________ interest rates than checking accounts. It is _________ to access your money in a savings account than in a checking account.
What part of a check is the LEAST important?
Which type of financial institution typically has membership requirements?
The primary goal of the Federal Reserve system is to:
maintain a safe and stable banking system
Which of the following statements about FDIC-insured accounts is correct?
FDIC-insured accounts are protected up to $250,000 per person per bank.
If you need to set up direct deposit, which information from your check would you likely need?
The routing number indicates which financial institution issued the check, and is used to set up direct deposit.
The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market Committee (FOMC), and the:
Board of Governors
Which type of account is typically the MOST liquid?
Checking account
Which type of account typically has low liquidity?
Certificate of Deposit (CD)
How often should you typically monitor your checking account?
Monthly
With a traditional savings account, you could be charged a fee if:
You withdraw money too often
Which of the following represent typical account fees?
ATM fee
Service fee
minimum balance fee
The numbers on the bottom of a typical check represent all of the following EXCEPT?
Social Security Number
What’s the best strategy for avoiding ATM fees?
Only use ATMs in your bank’s network
Which type of account will typically have the highest interest rate?
Certificate of Deposit (CD)
Which of the following are true if you pay only the minimun amount each month towards your credit card bill?
x

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