BANKING TEST WITH ANSWERS GRADED A+
1. all of the following are true about prepaid cards EX- c-prepaid cards are
CEPT: a great way to build
a-prepaid cards typically include a lot of fees credit
b-prepaid cards are a useful option for someone who
is unbanked to make online purchases
c-prepaid cards are a great way to build credit
d-prepaid cards are usually accepted anywhere that
debit and credit cards are accepted
2. you are developing a savings plan and using short-, b-a new cell phone,
medium-, and long term goals to motivate you. Which college tuition, a
represents possible possible goals from short term house down pay-
to long term ? ment
a-retirement, a house down payment, college tuition
b-a new cell phone, college tuition, a house down
payment
c-a new cell phone, dinner with friends this weekend,
a new bike
d-retirement, college tuition, a vacation
3. Juan saved $1000 from his summer job cleaning certificate of de-
pools. Which of these account types would work best posit
for him i he doesn't need access to the money for
a number of years and wants to earn the highest
interest rate?
4. Monthly income should be separated as- 50% should needs, wants, and
go to , 30% should go to , and 20% should savings
go to
5. which represents the best time to start saving for As soon as you
your retirement? have your first full
time job.
6. True or false: The majority of americans do NOT have True
an adequate emergency fund or sufficient amounts
of money saved for retirement.
7. Months
1/4
1. all of the following are true about prepaid cards EX- c-prepaid cards are
CEPT: a great way to build
a-prepaid cards typically include a lot of fees credit
b-prepaid cards are a useful option for someone who
is unbanked to make online purchases
c-prepaid cards are a great way to build credit
d-prepaid cards are usually accepted anywhere that
debit and credit cards are accepted
2. you are developing a savings plan and using short-, b-a new cell phone,
medium-, and long term goals to motivate you. Which college tuition, a
represents possible possible goals from short term house down pay-
to long term ? ment
a-retirement, a house down payment, college tuition
b-a new cell phone, college tuition, a house down
payment
c-a new cell phone, dinner with friends this weekend,
a new bike
d-retirement, college tuition, a vacation
3. Juan saved $1000 from his summer job cleaning certificate of de-
pools. Which of these account types would work best posit
for him i he doesn't need access to the money for
a number of years and wants to earn the highest
interest rate?
4. Monthly income should be separated as- 50% should needs, wants, and
go to , 30% should go to , and 20% should savings
go to
5. which represents the best time to start saving for As soon as you
your retirement? have your first full
time job.
6. True or false: The majority of americans do NOT have True
an adequate emergency fund or sufficient amounts
of money saved for retirement.
7. Months
1/4
