Home > Basics > Beginner
Basics Beginner: Introduction to Debit Cards

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Which currently offers more protection to you in the event of unauthorized use due to fraud?
Choose wisely. There is only one correct answer.
A credit card. Between the two types of cards, credit cards offer better protection.
2.
When you use your PIN for a purchase with a debit card, you _______ for the purchase.
Choose wisely. There is only one correct answer.
Need not sign. The PIN works in lieu of a signature.
3.
Which of the following are some fees that debit cards charge?
Choose wisely. There is only one correct answer.
All of the above. Fees vary according to the card, and some cards have additional fees.
4.
When you are reporting a lost debit card, the bank must be notified in writing.
Choose wisely. There is only one correct answer.
True. The federal Electronic Funds Transfer Act provides specific guidelines for providing written notice. Failure to adhere to them will result in liability for any unauthorized use of your lost or stolen card.
5.
You should review your debit card statements as soon as they arrive because the sooner you see and report any errors or suspicions, the less you will be liable for losing.
Choose wisely. There is only one correct answer.
True. The law provides some protections for those who report early.