Question

1. as the owner of your account, managing your money is responsibility.

a. not your
b. your
c. your parent’s
d. the banks

1. what does it mean to be blacklisted by a bank?

a. they have decided to charge you extra fees and limited the services available to you.
b. the bank doesn’t allow you to open an account because you handled money poorly in the past and couldn’t pass their financial background check.
c. you passed the financial literacy test and they offer to pay you for banking with them.
d. they promise you a higher credit score in exchange for a 15% interest rate on your investments.

1. overdraft protection sounds like a good idea...

a. because it is
b. but you have to pay back the deposited money with interest
c. and it helps you build wealth
d. but it will ruin your credit score

1. make sure your bank has plenty of and.

a. branches; low interest rates
b. insurance; monthly maintenance fees
c. atm locations; a mobile banking app
d. security breaches; foreign transaction fees

1. overdrafting your account is a sign of diligence and responsibility.

a. true
b. false

1. a debit card linked with your checking account is a good option for regular spending.

a. true
b. false

1. you need to track everything that involves money, including...

a. your clothing budget for the month
b. debit card purchases, third - party app transactions, and atm withdrawals
c. all of the sales that are currently happening
d. the latest retail store credit card offers

Explanation:

• Question 24: As the account owner, it is your responsibility to manage your money.
• Question 25: Being blacklisted by a bank means they don't allow you to open an account due to past poor money - handling and failing the financial background check.
• Question 26: Overdraft protection requires paying back the deposited money with interest.
• Question 27: Having plenty of ATM locations and a mobile banking app is beneficial for banking convenience.
• Question 28: Overdrafting is not a sign of diligence and responsibility.
• Question 29: A debit card linked to a checking account is a good option for regular spending as it directly uses available funds.
• Question 30: You need to track all money - related activities like debit card purchases, third - party app transactions, and ATM withdrawals.

Answer:

1. B. Your
2. B. The bank doesn't allow you to open an account because you handled money poorly in the past and couldn't pass their financial background check.
3. B. But you have to pay back the deposited money with interest
4. C. ATM locations; a mobile banking app
5. B. False
6. A. True
7. B. Debit card purchases, third - party app transactions, and ATM withdrawals