What is an exchange rate? (select the best answer.)

question 1 options:

how much a currency is worth when it's exchanged with another country's currency

how much bills are worth when they're exchanged with cash

how much dollars are worth when they are exchanged with coins

how much bonds are worth when they're exchanged with cash

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question 2 (1 point) question 2 unsaved

what is the amount of money in a bank account called? (select the best answer.)

question 2 options:

check register

debit

account total

balance

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question 3 (1 point) question 3 unsaved

if it's important to you to talk to a bank employee, which transaction method should you choose? (select the best answer.)

question 3 options:

online

bank branch

funds transfer

direct deposit

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question 4 (1 point) question 4 unsaved

which of the following is less important to consider when choosing a bank? (select the best answer.)

question 4 options:

the number of employees at each bank branch

the types of accounts the bank offers

the financial services the bank offers

the distance between the bank and your home

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question 5 (1 point) question 5 unsaved

which of the following is typically not a feature of checking accounts? (select the best answer.)

question 5 options:

a minimum balance

a debit card

atm transactions

interest

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question 6 (1 point) question 6 unsaved

which type of check endorsement includes text that states you shouldn't be responsible if its funds are insufficient? (select the best answer.)

question 6 options:

special endorsement

restrictive endorsement

qualified endorsement

blank endorsement

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question 7 (1 point) question 7 unsaved

what is an overdraft? (select the best answer.)

question 7 options:

going below the minimum balance of your account

spending more money than you have in your account

not making deposits frequently enough

making purchases at too many different retailers

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question 8 (1 point) question 8 unsaved

which of the following is a right that's given to anyone who has a bank account? (select the best answer.)

question 8 options:

the right to be told what fees or minimum balances an account has

the right to change the minimum balance on the account

the right to write an unlimited number of checks

the right to refuse to pay overdraft fees

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question 9 (1 point) question 9 unsaved

what does using your checking register let you do? (select the best answer.)

question 9 options:

keep track of the visits you make to a bank branch

keep track of transactions that affect an account

make electronic transfer payments

make purchases online

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question 10 (1 point) question 10 unsaved

what is direct deposit? (select the best answer.)

question 10 options:

a deposit you make at an atm

an interest payment from the bank

a deposit an employer makes into an employee's account

a deposit you make between two bank accounts

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question 11 (1 point) question 11 unsaved

a is when you move money from one bank account to another. (select the best answer.)

question 11 options:

deposit

transfer

withdrawal

atm transaction

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question 12 (1 point) question 12 unsaved

which of the following might a bank do to ensure customers' money stays in the bank? (select the best answer.)

question 12 options:

allow customers unlimited withdrawals

require minimum balances

set very low interest rates

refuse to offer interest

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question 13 (1 point) question 13 unsaved

which of the following is a risk banks should prepare for? (select the best answer.)

question 13 options:

too many people requesting loans

borrowers who don't pay back loans

people switching to online transactions

falling interest rates

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question 14 (1 point) question 14 unsaved

what does the fdic do? (select the best answer.)

question 14 options:

regulates national interest rates

provides bank account information to customers

provides insurance on money in bank accounts

prints currency

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question 15 (1 point) question 15 unsaved

why is a bank willing to protect your money for free or for a low cost? (select the best answer.)

question 15 options:

because the bank is a free service provided by the government

because the bank can invest your money to make more money for itself

because the bank is not interested in making a profit

because the bank won't allow you to remove all of the money from your account

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