checking

Checking Basics: Chapter 1 quiz


 

If you think you've mastered the material in this chapter, take our quiz. After you click the ''submit'' button, the answers will appear below.

  1. More often than not, the right bank account for many people is:

    Lifeline
    Interest bearing.
    Free
    Money market.


  2. "Float" refers to:

    The lending of money.
    The number of days between writing a check and the deduction of money from your account.
    The fee charged by a bank for a bounced check


  3. True or false: You can opt out of your bank's overdraft privilege or bounce protection.

    True
    False


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Allison Ross

CFPB concerned about overdraft fees

The Consumer Financial Protection Bureau again has raised concerns about overdraft protections at banks, today releasing a report that says small debit card purchases lead to expensive overdraft fees. "Today’s report shows that consumers who opt in to overdraft coverage put themselves at serious risk when they use their debit card," CFPB Director Richard Cordray  ... Read more

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