Banking; Module 2, Everfi Banking

What offers saving & checking accts, mortgages, personal loans, and debt & credit cards?

3 parts of the Federal Reserve System

Federal Open Market Committee (FOMC)

Reserve Banks (12 Regional)

Board of Governors

Federal Reserve banks

What's of the following is NOT one of the responsibilities of the Fed. Reserve? A. Supervising the reserve banks B. Maintaining a stable banking system C. Setting nations monetary policy D. Establishing the fed. budget

How to avoid account fees: (2)

With a trad. savings acct, you could be charged a fee if: A. You open an acct online B. You withdraw $ too often C. You close the acct. d. You deposit too much $ at once

Which of the following about FDIC-insured accts is correct? A. FDIC insures deposits up to $250,000 /person /bank B. Al cred. unions & retail banks provide FDIC-insured accts C. Both A & B D. None of the above

For a check, what is the check number and where is it located?

For a check, what's the routing # and where's it located?

For a check, what is the account # and where's it located?

What is the one place on a check that can be left blank?

If you need to set up a direct deposit, which info from your check would you likely need? A. Check # B. Memo line C. Numerical amount D. Routing #

The best way to ensure the accuracy and safety of your accounts is to:

Monitor your online accounts regularly

Which of the following is NOT one of the responsibilities of the Federal Reserve?

What's the best strategy for avoiding ATM fees?

Which of the following fees would likely be the highest?

What's the purpose of balancing or monitoring your checking account?

Savings accounts usually offer _________ interest rates than checking accounts. It is _________ to access your money in a savings account than in a checking account.

The numbers on the bottom of a typical check represent all of the following EXCEPT?

Which type of account is typically the MOST liquid?

How often should you typically monitor your checking account?