everfi example #71116

2 April 2023
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12 test answers

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question
The primary goal of the Federal Reserve system is to:
answer
maintain a safe and stable banking system
question
Which of the following statements about FDIC-insured accounts is correct?
answer
FDIC-insured accounts are protected up to $250,000 per person per bank.
question
If you need to set up direct deposit, which information from your check would you likely need?
answer
The routing number indicates which financial institution issued the check, and is used to set up direct deposit.
question
The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market Committee (FOMC), and the:
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Board of Governors
question
Which type of account is typically the MOST liquid?
answer
Checking account
question
Which type of account typically has low liquidity?
answer
Certificate of Deposit (CD)
question
How often should you typically monitor your checking account?
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Monthly
question
With a traditional savings account, you could be charged a fee if:
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You withdraw money too often
question
Which of the following represent typical account fees?
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ATM fee Service fee minimum balance fee
question
The numbers on the bottom of a typical check represent all of the following EXCEPT?
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Social Security Number
question
What's the best strategy for avoiding ATM fees?
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Only use ATMs in your bank's network
question
Which type of account will typically have the highest interest rate?
answer
Certificate of Deposit (CD)