Ramsey - Chapter 8 - Lesson 1 (Quiz)
Authored by David Cooper
Financial Education
9th Grade
Used 3+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does it mean to be "unbanked"?
Having multiple bank accounts
Having no bank accounts
Having a credit card
Having a savings account
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does "underbanked" mean?
Having no financial knowledge
Having a bank account but relying on other financial services
Having multiple credit cards
Having only a savings account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you look for to ensure your money is insured in a bank?
Bank's interest rates
FDIC or NCUA logos
Bank's location
Bank's size
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if a bank insured by the FDIC is shut down?
All money is lost
Deposits are insured up to $250,000
Only savings accounts are protected
Loans are forgiven
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What might prevent someone from passing the background check required to open a bank account?
Lack of services
Distrust
Unemployment
Blacklisted
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential consequence of using check cashing services?
High interest rates
Fees for getting cash
Collateral requirements
High refund fees
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What do tax refund lenders charge over 10% of?
The loan amount
The refund total
The paycheck
The collateral value
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