Banking and Personal Finance Quiz
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Questions and Answers

When John moved to Canada, he opened a __________ to manage his daily expenses and paycheck deposits.

Chequing Account

Maria is focused on her future, so she regularly adds money to her __________ to earn interest over time.

Savings Account

To pay back his friend for concert tickets, Alex used an __________, making the transaction quick and easy.

E-transfer (Electronic Funds Transfer)

Sarah loves the convenience of __________, allowing her to handle her finances without visiting the bank.

<p>Online Banking</p> Signup and view all the answers

To secure a loan for her new car, Jenna was offered a(n) __________ of 3.5% annually by the bank.

<p>Interest Rate</p> Signup and view all the answers

Over the __________ of their home loan, the Smiths will pay off their mortgage, including interest.

<p>Amortization Period</p> Signup and view all the answers

To avoid private mortgage insurance, the newlyweds made a __________ of 20% on their new home.

<p>Down Payment</p> Signup and view all the answers

Each month, a portion of Ethan's mortgage payment reduces the __________, slowly paying off the loan.

<p>Principal</p> Signup and view all the answers

After years of responsible borrowing, Lisa's __________ was high, securing her a favorable loan rate.

<p>Credit Score</p> Signup and view all the answers

For everyday purchases, Greg prefers using his __________ to avoid accumulating debt.

<p>Debit Card</p> Signup and view all the answers

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