Everfi Banking Basics
Which of the following financial institutions typically have the highest fees?
Check Cashing Companies
Which type of bank account is best for everyday transactions?
Checking Account
Which type of bank account typically offers no interest?
Checking account
How would you reconcile your bank account to avoid spending more than you have?
Compare your own records of your spending with your financial institution's records
What should you do before you withdraw money from the ATM?
Inspect ATM to make sure it wasn't tampered with
Which of the following statements about investing is TRUE?
Investing is riskier than putting money in a savings account
Which of the following is NOT a common feature of a financial institution?
Investment Trading
Which of the following statements about savings accounts is FALSE?
Savings accounts don't usually pay interest on the money you deposit
A _______ is a share of ownership in a company.
Stock
A savings account that compounds interest daily will earn a higher return than a savings account that pays simple interest daily.
True
If there is a mistake with one of your bank accounts, who should you contact to resolve the issue?
Your financial institution