FA-2 Checking & Linear Equations Unit Test PDF

2: Checking & Linear Equations Unit Test Checking & Linear Equations Unit Assessment Part 1: Multiple Choice 1. All of these are common banking fees, EXCEPT... a. Insufficient funds fee...

2: Checking & Linear Equations Unit Test Checking & Linear Equations Unit Assessment Part 1: Multiple Choice 1. All of these are common banking fees, EXCEPT... a. Insufficient funds fee b. Overdraft fee c. ATM fee d. Account opening fee 2. Which of the following is a disadvantage of using a check casher, compared to a bank? a. You wait longer to get your money at a check casher than at a bank b. You pay a higher fee to cash checks at a check casher than at a bank c. You can only cash checks worth more than $500 at a check casher d. You can cash fewer checks at a check casher than at a bank 3. Isabella notices her bank statement includes a $25.72 charge from Shell Gas that she does not remember making. She should do all of the following, EXCEPT... a. Set up text alerts, so she will be notified of potentially fraudulent charges in the future b. Contact the bank immediately, so they can investigate the charge c. Review her receipts and the details of the transaction, so she can confirm if the charge is real d. Wait for the bank to contact her, so she has the complete fraud report before responding www.ngpf.org Last updated: 8/19/21 1 4. Which of these options correctly matches the fee with its average cost? a. Monthly maintenance fee - $50 b. Overdraft fee - $35 c. ATM fee - $35 d. Overdraft fee - $50 5. Your friend Samir very excitedly tells you about opening his new checking account. “I’m so glad they only had a minimum opening amount of $50! I will leave my money in there so it can grow!” What is some advice you might give to Samir? a. A checking account isn’t very safe, so you should hide your money in your mattress instead b. A checking account is the best place to leave your money because of the high interest rates c. A checking account won't grow your money much because of low interest rates and fees d. A checking account won’t be good because it will be difficult to get your money into and out of 6. Which of these bank alerts will help protect you from overdrafting your account? a. Unusual activity alert b. Low balance alert c. Debit card alert d. Profile change alert 7. Which of the following is a way you can get money out of your checking account? a. Using your credit card to get cashback at a supermarket b. Withdrawing cash using an ATM c. Depositing a check at a bank branch d. Having your paycheck deposited electronically www.ngpf.org Last updated: 8/19/21 2 8. Joakim is hesitant to set up online bill pay with his credit union account. All of these are benefits of online bill pay you could share with him EXCEPT... a. Online bill pay can help you meet your payment deadline b. You can pay electronically or still have a paper check sent instead c. It takes a bit of time to set up initially, but it could save you time in the long run d. Banks require that you have a large account balance in order to use bill pay 9. All of these are tips to be safe with online banking EXCEPT... a. Use strong passwords and different ones for each account b. Don’t use any part of your Social Security number as a password c. Keep your browser and computer or mobile device up to date d. Make sure you carry a written password as a backup 10. Person-to-person payments are becoming more popular, so it’s a good idea to understand how they work. Which of the following is TRUE? a. To use a person-to-person payment, both people must have a checking account at the same bank branch b. Paying a cashier using your debit card is an example of a person-to-person payment because you’re both physically in the same location c. Each transaction with a person-to-person payment app typically has large fees attached, so you should use them sparingly d. Person-to-person payments are usually conducted using a smartphone app rather than a computer 11. Your bank statement includes all of the following information, EXCEPT... a. Your credit score b. The statement period c. Any fees charged by the bank d. Debits and credits on your account www.ngpf.org Last updated: 8/19/21 3 12. Consumers utilize mobile banking mostly for which activity? a. Making international transfers b. Inquiring about their account balance c. Paying bills d. Updating their account settings 13. All of the following are benefits of having a checking account, EXCEPT… a. You can pay bills, check your balance, and transfer money using mobile banking b. You can track your finances using alerts, statements, and online banking c. You can earn a high interest rate on the money in your account d. You can have your paycheck deposited automatically into your account 14. Liam accidentally charged more on his debit card than he had in his checking account. His balance is now -$12.75. He is charged a $10 overdraft fee each day his account balance is below $0. He makes no other withdrawals or deposits. Which equation accurately represents his balance, y, after x days? a. y = -12.75x + 10 b. y = -12.75x - 10 c. y = 10x - 12.75 d. y = -10x - 12.75 15. A linear regression model is… a. a table of data that represents two sets of data b. an equation that represents the linear relationship between two sets of data c. a graph that contains all of the points from a two-column table of data d. a number that represents how closely two sets of data are related www.ngpf.org Last updated: 8/19/21 4 16. What is the slope of the linear function shown in the table below? x y # checks total fees ($) cashed 0 0 4 14 8 28 12 42 a. 14 14 b. 4 4 c. 14 d. 0 17. A scatter plot is… a. A graph that shows data changing using dots connected together by lines b. A graph that uses rectangular bars to show how large values are c. A graph that shows the relationship between two data sets d. A graph that shows what percentage of data is related 18. When the sign of the slope is negative, the line travels… a. up as you move from left to right b. down as you move from left to right c. horizontally d. Vertically www.ngpf.org Last updated: 8/19/21 5 19. Which of the following graphs represents the equation y = -2x + 1? a. b. c. d. 20. Choose the scatter plot that has a negative correlation. a. b. c. d. None of the graphs show a negative correlation www.ngpf.org Last updated: 8/19/21 6  2: Checking & Linear Equations Unit Test Part 2: Math Skills Open Response 21. Figure 1 Figure 2 Figure 3 a. Write an equation that represents the pattern, where x represents the figure number and y represents the number of squares in the figure. b. How many squares will be in the 34th figure? 2 22. Graph the following equation: 𝑦 = − 𝑥 − 5 using at least 3 points. 3 www.ngpf.org Last updated: 8/19/21 7 23. Amir’s checking account has a minimum balance of $500. He is charged a $7 fee every month his account balance is below that minimum. In January 2021, Amir’s balance is $385. He makes no other deposits or withdrawals throughout the year. a. Write an equation to represent Amir’s checking account balance after x months since January. b. How much will Amir have in his account after 3 months? c. How much will Amir have after 12 months? d. After how many months will Amir’s balance be $0? 24. Write an equation that represents the following situation, then graph it on the coordinate plane. You just started a new job where you are given a one-time $200 hiring bonus and will make $25 per hour. Use x to represent total hours worked and y to represent total wages. Equation: _______________ www.ngpf.org Last updated: 8/19/21 8 25. The data in the table shows the number of ice cream cones that Ahmed sold at his ice cream shop and the high temperature for that day. Temperature (℉) Ice Cream Cones Sold 93 40 86 36 103 55 66 12 78 27 a. Create a scatter plot that represents the data. b. Draw a line of best fit through the data. c. Based on the line of best fit that you drew, approximately how many ice cream cones will Ahmed sell when the temperature is 100 degrees? www.ngpf.org Last updated: 8/19/21 9  2: Checking & Linear Equations Unit Test Part 3: Essay Your younger sibling Taylor wants to open a checking account since they recently got a part-time job. You’re ready to pass on everything you’ve learned about checking accounts to help them make the best decision. Write out your recommendations for Taylor to address the questions they’ve asked you. 1. Why should I open a checking account? I can cash my paycheck at the check cashing store. 2. How do I get money into and out of my checking account? 3. What are banking alerts? Which banking alert(s) should I sign up for? 4. All of my friends use the Cash App to pay each other when we go out to the movies or to restaurants. How does that work? What does that have to do with my checking account? www.ngpf.org Last updated: 8/19/21 10