Banking Basics questions with correct answers

Which of the following statements about check cashing companies is FALSE? a. They make it easy to fall into a loan cycle that is hard to get out of b. They offer bad deals where you'll owe a lot more than you borrowed c. They can take a percentage of your check on top of fees d. They charge low fees CORRECT ANSWER D Which of the following is NOT a common feature of a financial institution? a. Direct deposit b. Paper Checks c. Access to investment advice d. Checking and savings accounts e. investment trading f. access to investment products CORRECT ANSWER C and E Which of the following statements about check cashing companies is FALSE? a. They make it easy to fall into a loan cycle that is hard to get out of b. They offer bad deals where you'll owe a lot more than you borrowed c. They can take a percentage of your check on top of fees d. They charge low fees CORRECT ANSWER b. They offer bad deals where you'll owe a lot more than you borrowed Your financial institution can't help you if there is a mistake on your bank account statement. CORRECT ANSWER false Which of the following statements about investing is true