Choose the correct method
Which of these is NOT an online method of payment?
A) Paypal
B)Amazon
C)Cash
D) Netflix
C) Cash
Which of the following is an ADVANTAGE of using ONLINE PAYMENT?
A) You can buy goods and services nationwide or internationally.
B) You may forget your password or user name
C) If you make a purchase at a non-secure website, you could be a victim of identity theft.
D) You may pay an additional shipping fee for goods purchased and sent to you
A) You can buy goods and services nationwide or internationally.
True or False
Interest is when money is interesting
False
Interest is extra money you pay when you borrow money
What material do you use to pay with cash?
Bills and Coins
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Which method of payment should I use when making a small online purchase?
a)Cash
b)Credit Card
c)Debit Card
d)Check
c) Debit Card
Which is an advantage of cash?
A) It is accepted almost everywhere in the U.S.
B) You can spend more than you have
C) If you lose it, it is gone
D) It is safer than a card or check
A) It is accepted almost everywhere in the U.S.
True or False
A debit card does not allow you to borrow money from the bank and pay it off later.
True
Which payment method doesn't require you to open an account with a bank?
A)electronic payment
B) check
C) gift card
D) credit card
A) gift card
What is a disadvantage of using a credit card?
a)It is easy to use.
b)You can spend more than you have.
c)It can be used in emergencies.
d)Banks sometimes give rewards on credit cards.
b)You can spend more than you have.
When users are able to make everyday banking transactions and interactions with their Smartphones, what is this known as?
electronic payment
Which payment method is usually given to you as a present?
a)Checks
b)Gift card
c)Prepaid card
d)Credit Card
B) Gift card
True or False
Electronic payment is one of the safest methods of payment
False!
People who use electronic payment are often in danger of identity theft.
For someone looking to make a purchase with a plastic card, but concerned about security breaches, which type of personal payment is most suitable for them?
Prepaid Card
Which payment method is actually a loan?
A)cash
B)credit card
C)debit card
D) check
B) Credit Card
Which method of payment should I use when mailing money?
a)Check
b)Cash
c)Credit Card
d)Debit Card
A) Check
Which payment method DOES NOT involve spending money you have already earned?
a)Gift card
b)Debit card
c)Checks
d)Cash
A) gift card
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Which payment method may sometimes involve paying interest?
a)Checks
b)Prepaid card
c)Debit card
d)Cash
B) Prepaid card
Which of the following may have extra bank fees?
A) Prepaid Card
B) Cash
C) Gift Card
D) Checks
A) Prepaid Card
Which payment methods take money out of your account when you buy something?
a)Debit card and cash
b)Debit card and checks
c)Credit card and checks
d)Checks and Cash
B) Debit card and checks
What is an advantage of PIN?
Only you know the PIN so it's harder for people to steal your money
True or False
The police will arrest you if you write a check for an amount of money that you don't have in your account.
(You have $40 in your bank account but write a check for $70)
True
Mary has a part-time job. She can pay her bills but does not typically have much money left over. She gets into a car accident and must pay $400 for her car to be fixed. She only has $150 in her bank account and $24 in cash. How should she pay to fix her car?
a)Check
b)Cash
c)Credit Card
d)Debit Card
C) Credit Card
Which of the following is NOT accepted everywhere?
A) Credit Card
B) Cash
C) Gift Card
D) Checks
A) Credit Card
C) Gift Card
D) Checks