Savings and checking
What is the meaning of account?
a)It represents the funds entrusted by a customer to the financial institution
B) is a basic type of financial product that allows you to deposit your money and typically earn a modest amount of interest.
a)It represents the funds entrusted by a customer to the financial institution
How much in savings should you have reaching your 30’s?
a) $16,000
b) 50% of your salary
c) One time your salary
c)One time your salary
What is a banking fee?
a)Is a charge imposed by a financial institution for various services.
b)Is a certain amount of money that you have to pay for receiving medical services.
c)Is a document that you need if you want to buy a car.
a)Is a charge imposed by a financial institution for various services.
Which of the following options are examples of short-term savings funds?
a)Emergency fund
b)Vacation fund
c)Educational fund
d)All of the options
d)All of the options
Complet the definition
Online banking refers to any banking transaction that can be conducted over the —---, generally through a bank’s —---- under a private profile...
Internet / website
Paying / mobile
Internet / mobile
Internet / website
What is the the difference between savings and checking account?
A) A savings account provide you with access to your money for every needs
B) checking accounts pay interest on balances
C) Savings accounts enable you to set aside money for longer-term goals.
C) Savings accounts enable you to set aside money for longer-term goals.
While saving through your life, what is the Main thing you should avoid?
a)Scammers
b)Getting in debt
c)Moving from job
b)Getting in debt
When do you have to pay a ATM fee?
a) When you ask for more than $20,000
b) When the ATM is not owned by your bank
c) Everytime you use the ATM
b) When the ATM is not owned by your bank
Which of the following options are examples of long-term savings funds?
a)Retirement savings
b)Education savings
c)Financial independence
d)All of the options
d)All of the options
Mobile banking’s versatility includes. logging into a bank’s mobile website, using a mobile banking app and text message (SMS) banking
True
false
True
A savings account is a basic type of financial product that allows you to _________ your money and typically earn a modest _________ of interest.
A) deposit, amount
B) exchange, discount
C) Control, increase
A) deposit, amount
What is the percentage of salary you should save at your 40 and above?
a)17%
b)20%
c)15%
c)15%
When do you have to pay excessive Transactions Fee?
a)Exceeding the limit of transactions allowed
b)In every transaction
c)When you make transactions in places that are not owned by your bank
a)Exceeding the limit of transactions allowed
Which of the following options is the most important of the emergency funds?
a)Size
b)Liquidity
c)Stability
a)Size
What is the definition of online banking?
a)Allows you to perform many of the same activities as online banking using a smartphone or tablet instead of a desktop computer.
b)Refers to any banking transaction that can be conducted over the internet, generally through a bank’s website under a private profile, and with a desktop or laptop computer.
b)Refers to any banking transaction that can be conducted over the internet, generally through a bank’s website under a private profile, and with a desktop or laptop computer.
Online-only savings accounts offer several advantages, such as:
A) Higher interest, drawbacks, convenience
B) higher interest rates, lower fees, convenience.
C) higher interest rates, lower fees, increase assets.
B) higher interest rates, lower fees, convenience.
Why is the 40s the decade that could be more difficult to keep saving? Main reason
a)You have more expenses and responsibilities
b)You can lose your job
c)40s crisis
a)You have more expenses and responsibilities
When do you have to pay an overdraft Fee?
a)When you spend more money than you have in your account
b)If you don't use your account for 1 month
c)Everytime you use your account
a)When you spend more money than you have in your account
What is an emergency fund?
a)It refers to funds set aside for anticipated expenses or financial goals that are expected to be realized in the near future, typically within the next few months or years.
b) Is a financial safety net that individuals or households set aside to cover unexpected expenses or financial emergencies.
b) Is a financial safety net that individuals or households set aside to cover unexpected expenses or financial emergencies.
Mention a basic activity that you can do with a online banking
Paying bills
Transferring money from año account to another
Viewing account balance, printing statements and images checks
Applying for loans or credit cards
Checking accounts generally don’t, and the ones that do tend to offer very low interest rates.
A) False
B) True
B) True
Why it is important to make the most possible contributions in your savings at your 30s?
a)Because you probably have a stable job and not that much liabilities
b)Because you could be still living at your parents house
c)Because you start having the most expenses and responsibilities at this age
c)Because you start having the most expenses and responsibilities at this age
When do you have to pay an Early Account Closing Fee?
a)When you keep your account with $0?
b)If you close your account shortly after opening it
c)When you make a transaction of more than $1000
b)If you close your account shortly after opening it
What is not a long term saving fund?
a)It refers to funds set aside for anticipated expenses or financial goals that are expected to be realized in the near future, typically within the next few months or years.
b)It refers to funds set aside for financial goals or objectives that are expected to be realized over an extended period, usually several years or even decades into the future.
a)It refers to funds set aside for anticipated expenses or financial goals that are expected to be realized in the near future, typically within the next few months or years.
Mention a basic activity that you can do with a mobile banking
Accessing your account through an app
Making mobile check deposits
Transferring money
Paying bills
Locating ATMs