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FP/101 FP101 FP 101 Week 3 Quiz

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FP 101 Week 3 Quiz 1. What is the main disadvantage of using only a debit card? 2. When selecting and using a debit card, you should avoid… 3. Which of the following is not an effective way to think about money? 4. The smartest way to build an emergency fund is to… 5. How much money should you have in your emergency savings account? 6. The best place for your emergency savings fund is… 7. How do you make sure the money you deposit at a bank or credit union is 100% safe—that you are guaranteed to get every penny back no matter what? 8. What is the maximum dollar amount the Federal Deposit Insurance Corp. (FDIC) ensures in a single account? 9. If the money you have coming in each month (your take-home pay) is less than the money going out each month to pay the bills, you should… 10. To intelligently reduce your spending over the long term…

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