EverFi – Week 2 – "Banking"

19 April 2023
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10 test answers

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question
What's the best strategy for avoiding ATM fees?
answer
Only use ATMs in your bank's network
question
With a traditional savings account, you could be charged a fee if:
answer
You withdraw money too often
question
Which of the following is a unique feature of credit unions?
answer
Both A & B
question
Which of the following is NOT one of the responsibilities of the Federal Reserve?
answer
Maintain a Stable Banking System
question
Which of the following is a primary responsibility of the Federal Reserve Bank?
answer
Collect taxes
question
The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market Committee (FOMC), and the:
answer
Board of Governors
question
Savings accounts usually offer _________ interest rates than checking accounts. It is _________ to access your money in a savings account than in a checking account.
answer
higher; harder
question
What's the purpose of balancing or monitoring your checking account?
answer
To help you calculate how much money you have in your account
question
Which of the following is not a type of bank?
answer
Payday Lender
question
What part of a check is the LEAST important?
answer
Memo line