H&R Block Quiz 1 Questions and
Answers 100% Pass
Which is a difference between credit unions and consumer banks? - ✔✔Credit unions
are not open to all members of the public.
Which is a drawback of virtual (internet only) banks? - ✔✔Some financial transactions
can only be done in person, not virtually.
Which is an advantage to having an account at a consumer bank instead of a credit
union? - ✔✔Consumer banks often offer more financial services than credit unions.
When opening a checking or share draft account, which would likely be the most
important consideration? - ✔✔What types of fees are charged for maintaining and using
the account?
A person has $4000 to put into savings. Assuming all options were offered by the same
institution, which account is likely to offer the highest interest rate? - ✔✔Certificate of
deposit -early payment penalty withdrawal (much higher interest)
Which account offers the most liquidity? - ✔✔Checking account
Katelyn Whitman, All Rights Reserved © 2025 1
Answers 100% Pass
Which is a difference between credit unions and consumer banks? - ✔✔Credit unions
are not open to all members of the public.
Which is a drawback of virtual (internet only) banks? - ✔✔Some financial transactions
can only be done in person, not virtually.
Which is an advantage to having an account at a consumer bank instead of a credit
union? - ✔✔Consumer banks often offer more financial services than credit unions.
When opening a checking or share draft account, which would likely be the most
important consideration? - ✔✔What types of fees are charged for maintaining and using
the account?
A person has $4000 to put into savings. Assuming all options were offered by the same
institution, which account is likely to offer the highest interest rate? - ✔✔Certificate of
deposit -early payment penalty withdrawal (much higher interest)
Which account offers the most liquidity? - ✔✔Checking account
Katelyn Whitman, All Rights Reserved © 2025 1
