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

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1.
What is one possible danger of having a joint account with someone?
Choose wisely. There is only one correct answer.
Both of you can perform transactions. This is why you should trust the person with whom you are sharing the account.
2.
What does the ChexSystems database do?
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Track people who mishandle their checking or savings accounts. ChexSystems keeps tabs on bad behavior with your checking or savings account.
3.
You can cash a check for free at a _______.
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Bank or credit union. If you have an account at a bank or credit union, you can cash or deposit checks for free. Check cashing stores charge a fee on average of $5-7 dollars per check.
4.
Your deposits at a bank or credit union are insured.
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True. Your deposit dollars are guaranteed up to a minimum of $250,000.
5.
Why might you transfer money from one of your online accounts to another?
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All of the above are reasons why. All of these are good reasons to transfer money between accounts.
6.
Common uses for a savings account include _______.
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Short-term savings goals. Savings accounts are very safe, pay a low rate of interest, and allow you to access your money at any time.
7.
Overdraft fees are charged for the first three transactions that overdraw your account.
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False. Overdraft fees are charged for all transactions made after being overdrawn. Some banks may limit the number of fees.
8.
Suppose your balance at the end of the month in your check register is $98. Let's say you would like to have a little more of a cushion and would like your balance to be at least $200 at the end of the month. What are your options for accomplishing this?
Choose wisely. There is only one correct answer.
All of the above. Reducing your expenses is all about making choices. What tradeoffs are you willing to make to free up additional savings dollars?