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