True or False: When you deposit your money at a community or online bank, your money is insured by the FDIC up to $250,000.
1. True
Which of the following is typically a feature of a savings account but not a checking account?
3. Your money earns interest
True or False: Overdraft protection is a required feature of most checking accounts with no ability to opt out.
False. Overdraft protection is optional.
True or False: When calculating the percentages for each budget category, you should use your pre-tax income
False. Budget category values are calculated using post-tax income
What does it mean to live paycheck to paycheck?
3. Struggling to cover your financial needs with each paycheck
Who wrote Romeo and Juliet?
1. Charles Dickens
2. William Shakespeare
3. Jane Austen
4. Mark Twain
2. William Shakespeare
Which of the following is usually a benefit of being a member at a credit union?
1. Higher interest rates and lower fees
Tyreke has $5,000 to put into an account that earns compound interest. Which of the following is the BEST advice you can offer so that he can maximize interest?
2. Deposit your money as early as possible in an account with the highest interest rate possible
What is an overdraft fee?
1. A fee for keeping too much money in your savings account.
2. A fee charged by a bank when you spend more money than you have, and the bank covers the purchase.
3. A fee for transferring money between your checking and savings accounts.
4. A fee charged by a bank for closing your account early.
2. A fee charged by a bank when you spend more money than you have, and the bank covers the purchase.
Which strategy will help you save the most money?
3. As soon as you receive your paycheck, put a fixed amount or percentage of your money directly into your savings.
Danielle is unbanked and is considering using a prepaid card. Which of the following would be BAD information to give her about prepaid cards?
1. Prepaid cards are a good way to build credit because they work like credit cards
Who was the first African American to play in Major League Baseball in the modern era?
1. Willie Mays
2. Hank Aaron
3.Jackie Robinson
4. Satchel Paige
3. Jackie Robinson
Daisy reads her bank statement and finds an error. She should…
Do nothing. The bank will correct the error at the end of the month.
Call the FDIC. She is insured up to $250,000.
Call the bank. The bank will investigate the transaction to see if it was an error.
Assume that it’s a transaction that she made and forgot about
3. Call the bank. The bank will investigate the transaction to see if it was an error.
Which of the following is TRUE when comparing savings accounts and certificates of deposit?
2. Savings accounts allow you to access your money at all times while certificates of deposit require your money to be left alone for a set period of time
Which of the following statements is TRUE about overdraft fees?
3. You are charged when more money is withdrawn from your account than it has available
How can credit cards make it more challenging to save?
4. Credit cards make it easier to spend money
What is the primary purpose of a digital wallet?
2. Digital wallets focus on contactless transactions with businesses
Which artist has had multiple songs reach #1 on the Billboard Hot 100 in 2025?
1. Sabrina Carpenter
2. Kendrick Lamar
3. Alex Warren
4. Bad Bunny
2. Kendrick Lamar
All of the following are reasons to open a checking account EXCEPT…
1. Making it easier to pay bills
2. The ability to make purchases with a debit card
3. Access to cash at an ATM
4. Earn interest on your deposits
4. Earn interest on your deposits
Someone wants to save money for a car they plan to buy in the next 8 months. Which account would be the BEST choice?
1. Certificate of Deposit (CD) with a 2-year term
2. Traditional Savings Account
3. Money Market Account
4. Retirement Account (401k or IRA)
2. a traditional savings account keeps the money safe and accessible in the short term, unlike CDs or retirement accounts.
All of the following are ways that you could potentially avoid a monthly maintenance fee on your account EXCEPT…
2. Only banking online instead of using physical bank locations
When developing a savings plan, which is TRUE about saving and inflation?
1. In order to avoid losing purchasing power over time, the rate of return for savings accounts should be at least as high as the rate of inflation
All of the following are ways that you can keep your online bank account safe EXCEPT…
4. Banking with small banks and credit unions because they are less frequently the target of fraud
Which 2025 animated film became the highest-grossing PG-rated movie of the year, surpassing records set by The Lion King?
1. Lilo & Stitch
2. Frozen III
3. The Super Mario Galaxy Movie
4. Zootopia 2
1. Lilo & Stitch
Which are two advantages of having an account at a local community bank versus a national bank?
2. Community banks typically have LOWER fees and charges when compared to a national bank
4. Community banks typically give back and support the local community
Which statement BEST explains a key difference between Certificates of Deposit (CDs), traditional savings accounts, and money market accounts?
1. CDs usually require you to keep money locked in for a set time, while savings and money market accounts let you withdraw more freely.
2. Money market accounts are riskier than CDs and savings because they are not insured by the FDIC.
3. Traditional savings accounts always earn higher interest than CDs and money market accounts.
4. CDs, savings accounts, and money market accounts all work the same way, so there is no real difference.
1. CDs usually require you to keep money locked in for a set time, while savings and money market accounts let you withdraw more freely. (with fees or limitations*)
All of the following are ways to avoid ATM fees EXCEPT…
4. Withdrawing money from your savings account instead of your checking account
What is the benefit of automating your savings account contributions?
3. Your money will be transferred automatically and guarantees you will be contributing to your savings.
How might a cashless society create challenges for the economically disadvantaged?
1. They may struggle because they might not have access to bank accounts, debit/credit cards, or smartphones needed for digital payments.
2. They will lose money in all transactions since cash is no longer allowed.
3. They may face extra fees or barriers because some digital systems require accounts or devices they don’t have.
4. Both A and C
4. A and C
Which Disney villain’s original design was considered so frightening that it inspired the animators to soften her look before release?
1. Maleficent (Sleeping Beauty)
2. Lady Tremaine (Cinderella)
3. Cruella de Vil (101 Dalmatians)
4. Ursula (The Little Mermaid)
4. Ursula (The Little Mermaid)