Credit card and checking account savvy quiz answers.

1. nicole is going to open a checking account. she goes to three retail banks to compare them. which question would be important for nicole to ask about each bank?

answer- what service fees does the bank charge.

2. misha writes a lot of checks every month. sometimes she records them in her check register, but other times she forgets. which consequence is likely to occur because of her actions?

answer- she will not know her checking account balance

3. which sentence best describes using a credit card to pay for something?

answer- you pay for the purchase later.

4. jared notices a charge for car tires on last months checking account statement. however, jared does not own a car. which course of action should jared take?

answer- he should contact his bank immediately.

5. why should you include what the check is for on the check itself?

answer- so the person receiving the check knows what it’s for.

6. matt gives his friend his debit card and asks the friend to get some cash from the atm. why is this something matt should avoid doing?

answer- matt has to share his pin with his friend.

7. denny has a higher apr than torrey. which of the following statements provide the reason for this?

answer - denny’s credit score is lower than torrey’s credit score.

8. elly wants to get a new hair style. the hair salon charger $35.00 to cut and style long hair. elly only has $27.00 in her checking account. why is this a problem for elly?

answer- elly does not want to write a bad check.

9. when his credit card statement arrives, justin finds that he can’t pay the balance in full. which of the following options would be best for him to take?

answer- pay the minimum and avoid adding more debt.

10. mandy has a credit score of 450. which of the following judgments would most likely be made by a financial institution about mandy?

answer- she is a poor credit risk.

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