True/False
Credit Unions differ from retail banks in that they typically require membership based on specific criteria.
True
With certificates of deposit (CDs), you have to pay a penalty for __________________.
Withdrawing your money early
At which famous venue is a giant Christmas tree displayed each year in New York City?
Rockefeller Plaza
What is the Italian word for ice cream?
Gelato
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
B. Debit card purchases, third-party app transactions, and ATM withdrawals
Your emergency fund should go in your checking account, NOT a money market account.
False
You should avoid any bank service that leads to . . .
A. Multiple checking accounts
B. Savings
C. Debt
D. Gaining interest
C. Debt
What Philadelphia building appears on the back of the US $100 bill?
Independence Hall
What is the longest running sporting event in the United States?
The Kentucky Derby
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
C. ATM locations; a mobile banking app
If you see a charge you don't recognize, you should report it to your bank immediately.
True
Liquidity is . . . A. How quickly and easily you can access your money B. A great way to find a financial service that's right for you C. When you deposit silver or gold and they liquify it for you D. How money flows from bank to bank
A. How quickly and easily you can access your money
How many dots are there on a pair of dice?
42
How many scoops of raisins go into each box of Kellogg's Raisin Bran?
Two
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
B. But you have to pay back the deposited money with interest
People who are struggling with money often turn to alternative financial services like payday loans, but these services actually end up causing them to lose money
True
Something that all of the predatory financial services have in common is . . . A. They all require you to take out a loan B. They all require you to be a college graduate C. You end up losing money with all of them D. People can earn money with all of them
C. You end up losing money with all of them
What is the symbol of the Zodiac sign Leo?
The Lion
What is the highest hand in straight Poker?
A Royal Flush
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.
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.
Overdrafting your account is a sign of diligence and responsibility
False
Banks invest their customers' deposited money and then . . . A. Earn interest, keeping all of it as their own profit B. Typically lose some of it in risky investment deals C. Pay their customers 100% of the earned interest D. Earn interest, paying the customer a small amount of interest on their accounts
D. Earn interest, paying the customer a small amount of interest on their accounts
What surface are Wimbledon tennis matches played on?
Grass
What are the holes in Swiss cheese called?
Eyes
When deciding on the right bank for you, you should first identify what type of bank you want, the features that matter most to you, and . A. What kind of accounts you want B. What type of home you want to own someday C. How large your savings account is D. If you want to go to an Ivy League or community college
A. What kind of accounts you want