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Wk 4 Exit Ticket 2.8, 2.9, 2.10
By Tang Xiong
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Last updated about 5 hours ago
10 questions
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Question 1
1.
When developing a savings plan, which is TRUE about saving and inflation?
To maximize saving, the rate of return for savings accounts should be exactly equal to the rate of inflation
In order to avoid losing purchasing power over time, the rate of return for savings accounts should be lower than the rate of inflation
There is no relationship between saving and inflation
In order to avoid losing purchasing power over time, the rate of return for savings accounts should be at least as high as the rate of inflation
Question 2
2.
What does it mean to live paycheck to paycheck?
Saving a portion of your paycheck for emergencies
Struggling to cover your financial needs with each paycheck
Having multiple sources of income to cover expenses
Enjoying a comfortable lifestyle without worrying about money
Question 3
3.
How can credit cards make it more challenging to save?
They offer high interest rates on savings accounts.
They provide high rewards points that can be converted into savings.
They can lead to overspending and accrue interest charges.
They require a minimum balance to avoid fees.
Question 4
4.
When sending a payment using a P2P payment account, which information is typically required for the transaction?
Social security number
Home address
Passport number
Email address or phone number
Question 5
5.
What is the primary purpose of a digital wallet?
Digital wallets focus on contactless transactions with businesses
Digital wallets provide expense tracking for making budgets
Digital wallets store cash in digital form
Digital wallets facilitate sharing money within a group
Question 6
6.
What precaution can individuals take to avoid falling victim to scams on P2P payment apps?
Ignore all text messages from unknown numbers
Avoid using P2P apps altogether
Share their account details with friends
Verify the authenticity of communication by contacting the bank directly
Question 7
7.
Which of the following is an example of online bill pay?
Setting up an automatic transfer to your savings account
Using your bank’s website or app to schedule and pay your monthly bills
Paying your credit card bill in person at a bank branch
Writing a check and mailing it to your utility company
Question 8
8.
Which of the following statements is an advantage of online banking?
It requires visiting a physical bank branch for most transactions.
It involves higher fees compared to traditional banking services.
It provides 24/7 access to your account from any internet-enabled device.
It limits access to account information to regular business hours.
Question 9
9.
All of the following are ways that you can keep your online bank account safe EXCEPT:
Using the same password across multiple accounts for convenience
Using a strong, unique password for your online banking account
Keeping your account login information private and secure
Enabling two-factor authentication for an extra layer of security
Question 10
10.
Which of the following practices can significantly reduce the risk of falling victim to phishing attacks targeting your online banking information?
Ignoring unsolicited emails that request account details and directly visiting your bank’s website to verify information
Sharing your login credentials with trusted family members for easy access
Disabling email notifications for account activity to avoid clutter
Using public Wi-Fi to access your online banking account for convenience