Everfi Banking Test Study Guide Questions And Correct Answers

What's the best strategy for avoiding ATM fees? {Ans: Only use ATMs in your bank's network}How often should you typically monitor your checking account? {Ans: Monthly}what part of the check is least important? {Ans: Memo line}Which type of financial institution typically has membership requirements? {Ans: Credit Union}The best way to ensure the accuracy and safety of your accounts is to: {Ans: Monitor your online accounts regularly}Which of the following is a primary responsibility of the Federal Reserve Bank? {Ans: Establish monetary policy}What's the purpose of balancing or monitoring your checking account? {Ans: To help you calculate how much money you have in your account}Which of the following is not a type of bank? {Ans: Payday Lender}Which one of the following is NOT one of the responsibilities of the Federal Reserve? {Ans: Establishing the federal budget}Which of the following fees would likely be the highest? {Ans: Overdraft fee}Savings accounts usually offer _____ interest rates than checking accounts. It is _____ to access your money in a savings account than in a checking account. {Ans: Higher; harder}