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Checking & Linear Equations

Quiz by Juli

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20 questions
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  • Q1
    1. All of these are common banking fees, EXCEPT...
    Overdraft fee
    Account opening fee
    Insufficient funds fee
    ATM fee
    30s
  • Q2
    2. Which of the following is a disadvantage of using a check casher, compared to a bank?
    You can only cash checks worth more than $500 at a check casher
    You can cash fewer checks at a check casher than at a bank
    You pay a higher fee to cash checks at a check casher than at a bank
    You wait longer to get your money at a check casher than at a bank
    30s
  • Q3
    3. Isabella notices her bank statement includes a $25.72 charge from Shell Gas that she does not remember making. She should do all of the following, EXCEPT...
    Wait for the bank to contact her, so she has the complete fraud report before responding
    Contact the bank immediately, so they can investigate the charge
    Set up text alerts, so she will be notified of potentially fraudulent charges in the future
    Review her receipts and the details of the transaction, so she can confirm if the charge is real
    30s
  • Q4
    4. Which of these options correctly matches the fee with its average cost?
    Overdraft fee - $35
    Overdraft fee - $50
    Monthly maintenance fee - $50
    ATM fee - $35
    30s
  • Q5
    5. Your friend Samir very excitedly tells you about opening his new checking account. “I’m so glad they only had a minimum opening amount of $50! I will leave my money in there so it can grow!” What is some advice you might give to Samir?
    A checking account is the best place to leave your money because of the high interest rates
    A checking account isn’t very safe, so you should hide your money in your mattress instead
    A checking account won’t be good because it will be difficult to get your money into and out of
    A checking account won't grow your money much because of low interest rates and fees
    30s
  • Q6
    6. Which of these bank alerts will help protect you from overdrafting your account?
    Low balance alert
    Profile change alert
    Unusual activity alert
    Debit card alert
    30s
  • Q7
    7. Which of the following is a way you can get money out of your checking account?
    Withdrawing cash using an ATM
    Using your credit card to get cashback at a supermarket
    Having your paycheck deposited electronically
    Depositing a check at a bank branch
    30s
  • Q8
    8. Joakim is hesitant to set up online bill pay with his credit union account. All of these are benefits of online bill pay you could share with him EXCEPT...
    It takes a bit of time to set up initially, but it could save you time in the long run
    Online bill pay can help you meet your payment deadline
    Banks require that you have a large account balance in order to use bill pay
    You can pay electronically or still have a paper check sent instead
    30s
  • Q9
    9. All of these are tips to be safe with online banking EXCEPT...
    Don’t use any part of your Social Security number as a password
    Make sure you carry a written password as a backup
    Keep your browser and computer or mobile device up to date
    Use strong passwords and different ones for each account
    30s
  • Q10
    10. Person-to-person payments are becoming more popular, so it’s a good idea to understand how they work. Which of the following is TRUE?
    Paying a cashier using your debit card is an example of a person-to-person payment because you’re both physically in the same location
    Each transaction with a person-to-person payment app typically has large fees attached, so you should use them sparingly
    Person-to-person payments are usually conducted using a smartphone app rather than a computer
    To use a person-to-person payment, both people must have a checking account at the same bank branch
    30s
  • Q11
    11. Your bank statement includes all of the following information, EXCEPT...
    Any fees charged by the bank
    Debits and credits on your account
    Your credit score
    The statement period
    30s
  • Q12
    12. Consumers utilize mobile banking mostly for which activity?
    Inquiring about their account balance
    Making international transfers
    Updating their account settings
    Paying bills
    30s
  • Q13
    13. All of the following are benefits of having a checking account, EXCEPT…
    You can have your paycheck deposited automatically into your account
    You can earn a high interest rate on the money in your account
    You can pay bills, check your balance, and transfer money using mobile banking
    You can track your finances using alerts, statements, and online banking
    30s
  • Q14
    14. Liam accidentally charged more on his debit card than he had in his checking account. His balance is now -$12.75. He is charged a $10 overdraft fee each day his account balance is below $0. He makes no other withdrawals or deposits. Which equation accurately represents his balance, y, after x days?
    y = -12.75x - 10
    y = -12.75x + 10
    y = -10x - 12.75
    y = 10x - 12.75
    30s
  • Q15
    15. A linear regression model is...
    a graph that contains all of the points from a two-column table of data
    a table of data that represents two sets of data
    an equation that represents the linear relationship between two sets of data
    a number that represents how closely two sets of data are related
    30s

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