Personal Finance - Topic 4 Quiz
Quentin wants his retail purchases to be deducted directly from his checking account. Which of the following tools should he use? Select one: a. Debit card b. Online payment c. Stored-value card d. Smart card e. All of the above
a. Debit card
A drawback of a regular savings account is Select one: a. Low rate of return b. Minimum deposit c. Not insured d. Possible penalty for early withdrawal e. All of these are drawback of a regular savings account
a. Low rate of return
Logan paid a bill with a ______, which he purchased from his financial institution by paying the amount of the check and a fee. Select one: a. Certified check b. Cashier's check c. Money order d. Personal check e. Traveler's check
b. Cashier's check
Which of the following usually offers mutual funds? Select one: a. Credit card company b. Investment company c. Life insurance company d. Mortgage company e. Payday loan company
b. Investment company
Zoe signed the back of her check with the words "for deposit only." She used a(n) Select one: a. Blank endorsement b. Restrictive endorsement c. Deposit ticket d. Special endorsement e. Individual account
b. Restrictive endorsement
Which of the following is NOT required as part of the procedure for properly writing a check? Select one: a. Amount of check written in words b. Date written c. Driver's license number d. Person or organization receiving payment e. Signature
c. Driver's license number
Which of the following is NOT a financial publication that can provide information about financial services and economic conditions? Select one: a. TheWallStreetJournal b. TheFinancialTimes c. TheDailyMarket d. BusinessWeek e. Forbes
c. TheDailyMarket
Which of the following is correct about inflation? Select one: a. If inflation is 10%, and your rate of return in your savings account is 5%, you will experience an overall gain in buying power b. As inflation rates increase, interest rates offered to savers decreases c. Inflation does not affect interest rates for savings accounts d. As inflation increases, the interest rates offered to savers generally increase. e. If you earn 5% and inflation is 10%, your buying power will increase
d. As inflation increases, the interest rates offered to savers generally increase.
Aidan wants to be able to complete his payment transactions electronically. Which of the following tools should he use? Select one: a. Debit card b. Online payment c. Stored-value card d. Smart card e. All of the above
e. All of the above
All of the following are non-deposit institutions except Select one: a. Credit card company b. Investment company c. Life insurance company d. Mortgage company e. Payday loan company
e. Payday loan company