©BRIGHTSTARS EXAM STUDY SOLUTIONS 8/13/2024 12:27 PM
Foolproof Module 4 Test Study Guide
Questions With Correct Answers.
Which of the following statements is true about an ATM card? - answer✔✔An ATM card allows
you to draw money from your checking and/or savings account.
Which of the following statements is TRUE? - answer✔✔(//Got this wrong. Best guess: A debit
card normally has a MasterCard or Visa logo on it.)
If you use mobile payment and you lose your phone, you should: - answer✔✔Cancel your credit
card ASAP.
Which statement best describes putting a "hold" on a check? - answer✔✔You deposit a check in
your checking account, and the teller tells you the money will be available in five days.
Why would a smart person keep at least a $100 balance in their checking account at all times?
Which answer is MOST correct? - answer✔✔You never know when unexpected fees or
expenses will hit your checking account. And you can at times forget to write down a payment
you make with your checking account or debit/ATM card. So, you're less likely to overdraw your
account if you always keep a hundred dollar balance.
Which of the following statements are false? - answer✔✔All of the above. (You cannot
overdraw your account with an ATM card. / ATM cards can be used in all stores to buy things. /
It doesn't matter what machine you use when you want to draw out more using your ATM card.)
Checks should be written in pencil so that you can easily correct mistakes. - answer✔✔False.
Some financial institutions can be really bad about putting unexpected charges on your checking
account. - answer✔✔True.
What should you do when you open a checking account? - answer✔✔All of the above. (Open a
savings account at the same time you open your checking account. / Link your checking account
to your savings account. / Try to sign up for true overdraft protection, even though you have to
pay for it.)
Money orders are not a good way to pay bills. They are wildly more expensive than writing
checks. - answer✔✔True.
Foolproof Module 4 Test Study Guide
Questions With Correct Answers.
Which of the following statements is true about an ATM card? - answer✔✔An ATM card allows
you to draw money from your checking and/or savings account.
Which of the following statements is TRUE? - answer✔✔(//Got this wrong. Best guess: A debit
card normally has a MasterCard or Visa logo on it.)
If you use mobile payment and you lose your phone, you should: - answer✔✔Cancel your credit
card ASAP.
Which statement best describes putting a "hold" on a check? - answer✔✔You deposit a check in
your checking account, and the teller tells you the money will be available in five days.
Why would a smart person keep at least a $100 balance in their checking account at all times?
Which answer is MOST correct? - answer✔✔You never know when unexpected fees or
expenses will hit your checking account. And you can at times forget to write down a payment
you make with your checking account or debit/ATM card. So, you're less likely to overdraw your
account if you always keep a hundred dollar balance.
Which of the following statements are false? - answer✔✔All of the above. (You cannot
overdraw your account with an ATM card. / ATM cards can be used in all stores to buy things. /
It doesn't matter what machine you use when you want to draw out more using your ATM card.)
Checks should be written in pencil so that you can easily correct mistakes. - answer✔✔False.
Some financial institutions can be really bad about putting unexpected charges on your checking
account. - answer✔✔True.
What should you do when you open a checking account? - answer✔✔All of the above. (Open a
savings account at the same time you open your checking account. / Link your checking account
to your savings account. / Try to sign up for true overdraft protection, even though you have to
pay for it.)
Money orders are not a good way to pay bills. They are wildly more expensive than writing
checks. - answer✔✔True.
