Banking and Finance Quiz: Accounts and Payments

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Which type of account does John open to manage his daily expenses and paycheck deposits?

Savings Account

Credit Card

Chequing Account (correct)

Mortgage

What did Sarah find convenient for handling her finances without visiting the bank?

Account Summary

Pre-authorized Payment

Online Banking (correct)

Direct Deposit

What did Tim set up through his bank's website to ensure his phone bill is never late?

Transfer Funds

Bill Payment (correct)

Direct Deposit

Pre-authorized Payment

What type of transaction did Alex use to quickly and easily pay back his friend for concert tickets?

E-transfer (Electronic Funds Transfer) Signup and view all the answers

What did the newlyweds do to avoid private mortgage insurance on their new home?

Savings Account Signup and view all the answers

What does Greg prefer to use for everyday purchases to avoid accumulating debt?

E-transfer (Electronic Funds Transfer) Signup and view all the answers

What does Kevin review monthly to keep track of his spending and account balances?

Mortgage Signup and view all the answers

What did Noah check before traveling to ensure he exchanged his money at a good rate?

Interest Rate Signup and view all the answers

What did Megan use responsibly to build her credit history?

Debit Card Signup and view all the answers

What did Linda incur on top of her withdrawal amount when withdrawing cash abroad?

Transaction Fees Signup and view all the answers

What account type did Maria regularly add money to in order to earn interest over time?

Savings Account Signup and view all the answers

How did Alex quickly and easily pay back his friend for concert tickets?

Online Banking Signup and view all the answers

What type of account did Sarah find convenient for handling her finances without visiting the bank?

Online Banking Signup and view all the answers

What did the couple take out when buying their first house, agreeing to pay it back over 30 years?

Mortgage Signup and view all the answers

What did Jenna receive from the bank to secure a loan for her new car?

Interest Rate Signup and view all the answers

What will the Smiths pay off over the amortization period of their home loan?

Principal Signup and view all the answers

Banking and Finance Quiz: Accounts and Payments

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Questions and Answers

Which type of account does John open to manage his daily expenses and paycheck deposits?

What did Sarah find convenient for handling her finances without visiting the bank?

What did Tim set up through his bank's website to ensure his phone bill is never late?

What type of transaction did Alex use to quickly and easily pay back his friend for concert tickets?

What did the newlyweds do to avoid private mortgage insurance on their new home?

What does Greg prefer to use for everyday purchases to avoid accumulating debt?

What does Kevin review monthly to keep track of his spending and account balances?

What did Noah check before traveling to ensure he exchanged his money at a good rate?

What did Megan use responsibly to build her credit history?

What did Linda incur on top of her withdrawal amount when withdrawing cash abroad?

What account type did Maria regularly add money to in order to earn interest over time?

How did Alex quickly and easily pay back his friend for concert tickets?

What type of account did Sarah find convenient for handling her finances without visiting the bank?

What did the couple take out when buying their first house, agreeing to pay it back over 30 years?

What did Jenna receive from the bank to secure a loan for her new car?

What will the Smiths pay off over the amortization period of their home loan?

To avoid private mortgage insurance, what did the newlyweds make on their new home?

Which part of Ethan's mortgage payment slowly pays off the loan each month?

What secured Lisa a favorable loan rate after years of responsible borrowing?

What right did the bank have in case of default on the loan?

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