Exam 4: Managing Your Cash and Savings

Connie Shockey wants to put funds in an account that does not offer checking privileges because she has a tendency to overspend.Which of the following would fit her criteria?

You have $450 in your checking account when your ATM card and PIN are stolen.You could lose up to ____ if you report the lost ATM card within 2 business days.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -Banks [may | must] state interest rates they pay as Annual Percentage Yields.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -[Money market deposit accounts | money market mutual funds] are protected by the Federal Deposit Insurance Corporation.

A major reason for overdrafts is the inability of a check writer to keep an accurate check ledger.

Low interest rates that have persisted since the financial crisis of 2008-09 have been a net benefit to retirees.

NOW accounts are appropriate for people who need to keep substantial amounts of money in a checking account.

Banks and other financial institutions insure the contents of safe-deposit boxes.

Factors typically influencing the choice of where to maintain a checking account are:

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -You [would | would not] expect to receive a cash flow of interest from your Series EE bonds.

If you write a check for an amount greater than your account balance,the result will be

You can stop payment when you purchase an item with your debit card.

The least expensive method for banks to interact with their customers is