Unit 8 EPF Reveiw

Miscellaneous

100

How many colors are there in a rainbow?

7

200

Ring around the rosie nursery rhyme symbolizes what event?

Bubonic Plague

300

What is the name of the scale used to measure spiciness of peppers?

Scoville

You win 300 and take 100 from every team!!! Or you Lose 500!

400

Tasmania is part of what country?

Australia 

500

What year did the Titanic sink?

1912

Checking Accounts

100

A great option for storing your money for short term and day to day use.

Checking Account

200

What does ATM stand for?

Automate Teller Machine

300

Name three P2P payment apps

Cash App

PayPal

Venmo

Zelle

Apple Pay

400

Depositing a check with your smartphone by taking a picture and uploading it to your banking platform.

Mobile deposit

500

Two important questions you should ask when opening a checking account.

Min balance, opening fees, overdraft fees, online, spending limits?

Savings Accounts

100

One difference between a savings account and checking account.

Savings earns interest

Tool for investing

Largely inaccessible 

Accrues interest 

200

interest you earn on interest

Compound interest

300

This type of account allows for higher interest rates, flexible withdrawals and a minimum account balance.

Money market account

400

CD = ?

Certificate of Deposit

500

Make sure your bank is insured through...

Federal Deposit Insurance Corp.

Banking Fees

100

Average overdraft fee

DOUBLE POINTS!!!!!

$24.93

200

True or False: Overdraft protection is a required feature of most checking accounts with no ability to opt out.

False

300

There are 7 common banking fees. Name 2.

1. Monthly maintenance/service fee
2. Out-of-network ATM fee
3. Excessive transactions fee
4. Overdraft fee
5. Insufficient fund fee
6. Wire transfer fee
7. Early account closing fee
8. Bottom line

400

Savings account holders withdraw over the federal limit, which is six free withdrawals and transfers per month. Which fee does this incur. 

Excessive transactions

500

A fee incurred when you don’t have enough money in your bank account, and the bank will cover you by taking the funds from your linked savings account, second checking account, line of credit, etc.

Overdraft

Online and Mobile Banking

100

What is the loudest animal on Earth?

What is a sperm whale?

200

What does P2P stand for?

Person to Person Banking

300

Name two P2P apps

Zelle

Cashapp

Venmo

Paypal

ApplePay

400

Explain direct deposit

...

TRIPLE POINTS!!!

500

When is the Unit 8 test?

Tomorrow, 11/9/23