Choose wisely. There is only one correct answer to each question.
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1.
A savings account for a working teenager can help him or her save money because it helps discourage paychecks from being spent right away.
True. That, in turn, can put a damper on excessive spending.
2.
When evaluating fees at a bank or credit union, what is perhaps the most helpful question to ask yourself?
Am I getting what I need from my bank or credit union in return for these fees? Not everyone thinks fees are too high; therefore, determine whether you are getting your money's worth.
3.
Compared to brick-and-mortar financial institutions, online ones offer _______ services.
Fewer. This is a disadvantage of the online institutions.
4.
Which of the following is the best reason why checking accounts aren't effective for saving money?
They are designed for spending money. Because they are designed to be spent by you rather than used by the institution holding them, they pay them little or no earnings.
5.
As a general rule, larger financial institutions offer ______ services and options compared to smaller ones.
More. Size generally enables an institution to offer more products and services.