everfi

Which of the following statements about check cashing companies is TRUE?

They charge high fees.

Which of the following statements about check cashing companies is FALSE?

They charge low fees.

If there is a mistake with one of your bank accounts, who should you contact to resolve the issue?

Your financial institution

Investing is best for ________.

long-term financial goals, like paying for retirement.

What should you do before you approach an ATM?

check for any suspicious people lurking nearby.

Your financial institution can't help you if there is a mistake on your bank account statement.

false

Which of the following is NOT a common feature of a financial institution?

Access to investment advice

Which of the following is NOT a common feature of a financial institution?

Access to investment products

Why is it important to reconcile your bank statements?

All of the above

Which of the following financial institutions typically have the highest fees?

Check cashing and payday loan companies

Which type of bank account is best for everyday transactions?

Checking Account

Savings accounts typically offer more interest than what type of account?

Checking account

Which type of bank account typically offers the least (if any) 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.

Which of the following statements is TRUE?

If there is a mistake on your bank account, you should contact your financial institution immediately.

What should you do before you withdraw money from the ATM?

Inspect the ATM to make sure it wasn't tampered with.

Which of the following statements about investing is FALSE?

Investing is a guaranteed way to grow your money.

Which of the following statements about investing is TRUE?

Investing is riskier than putting money in a savings accounts.

Which of the following is NOT a common feature of a financial institution?

Investment trading

How can you avoid spending more than what is in your bank account?

Keep your own records to compare with your financial institution's records.

Which savings account will earn you the most money?

One that compounds interest daily.

Which savings account will earn you the least money?

One that earns simple interest monthly

Which of the following statements about savings accounts is FALSE?

Savings accounts don't usually pay interest on the money you deposit

Which of the following statements about savings accounts is FALSE?

Savings accounts don't usually require a minimum balance.

A savings account that compounds interest daily will earn a higher return than a savings account that pays simple interest daily.

TRUE