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14. List two advantages of online banking . _ ____________________________________________________________________ _ ____________________________________________________________________ 15. Characteristics of virtual currencies include all of the following EXCEPT: a. stateless c. highly stable in value b. anonymous d. peer-to-peer 16. Marcus was running a successful 3D printing company and had over $500,000 in his bank account at a small community bank. Unfortunately, the economy took a severe downturn and his bank failed. Did he lose all the money in his account? If not, why not? How much money does he have left? _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ 17. T F Once you have an ATM card from a major bank, you can use any ATM for free! 18. Which of the following is NOT a way to use the funds in your checking account? a. writing a check c. using a debit card to make a purchase b. cash withdrawal from an ATM d. credit card 19. Explain the relationship between the Great Depression and deposit insurance. _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ _ ____________________________________________________________________ 20. Savings accounts are not used to fund _________ expenses; Banks anticipate that the funds deposited in a savings account will remain in the account for a period of time, so they are willing to pay _________ on the account. a. living; bonuses c. daily; interest b. monthly; dividends d. all of the above PRODUCT PREVIEW
2 PTS ___
1 PT ___
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1 PT ___ 1 PT ___
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SCORE: ____ / 32 PTS
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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