Question

multiple choice (circle the letter next to the correct answer.

1. a bank can help you your money and keep it

a. manage; safe c. deposit; budgeted
b. find; growing d. budget; available

1. some of the services banks offer include...

a. paying off your student loan debt and c. teaching you how to handle your finances and
saving for your future encouraging you to cut up your credit cards
b. creating a personalized budget for you and d. mortgages, check writing, and debit cards
managing your schedule

1. a savings account is for

a. investing your money c. long - term savings goals
b. regular spending d. the entertainment budget line item

1. an easy way to avoid ending up with errors in your checking account is to simply...

a. only use cash c. keep all your receipts
b. monitor your account at least twice a week d. budget often

1. the federal deposit insurance corporation (fdic) and national credit union administration

(ncua) keep your money in the bank insured up to per account.
a. $250 c. $25,000
b. $2,500 d. $250,000

1. credit unions differ from retail banks in that they typically require membership based on

specific criteria.
a. true b. false

1. your emergency fund should go in your checking account, not a money market account.

a. true b. false

1. if you see \pending\ on an account charge, that means...

a. you need to make a deposit before it is paid c. it hasnt been fully processed yet
b. the payment was declined d. it is suspected of being a fraudulent charge

Explanation:

1. Banks help manage money and keep it safe. "Manage" is a common banking service verb and "safe" is a key aspect of banking.
2. Mortgages, check - writing, and debit cards are standard bank services.
3. Savings accounts are typically for long - term savings goals.
4. Keeping all receipts helps in reconciling the checking account and avoiding errors.
5. The FDIC and NCUA insure deposits up to $250,000 per account.
6. Credit unions often require membership based on specific criteria (e.g., employer, community).
7. Emergency funds are better in a money - market account (more interest) rather than just a checking account.
8. "Pending" means the charge hasn't been fully processed yet.

Answer:

1. A. Manage; safe
2. D. Mortgages, check writing, and debit cards
3. C. Long - term savings goals
4. C. Keep all your receipts
5. D. $250,000
6. A. True
7. B. False
8. C. It hasn't been fully processed yet