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Wk 5 Exit Ticket 2.8, 2.9, 2.10
By Tang Xiong
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Last updated about 3 hours ago
10 questions
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Question 1
1.
When developing a savings plan, which is TRUE about saving and 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
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 at least as high as the rate of inflation
Question 2
2.
What does it mean to live paycheck to paycheck?
Having multiple sources of income to cover expenses
Struggling to cover your financial needs with each paycheck
Enjoying a comfortable lifestyle without worrying about money
Saving a portion of your paycheck for emergencies
Question 3
3.
How can credit cards make it more challenging to save?
They can lead to overspending and accrue interest charges.
They require a minimum balance to avoid fees.
They offer high interest rates on savings accounts.
They provide high rewards points that can be converted into savings.
Question 4
4.
When sending a payment using a P2P payment account, which information is typically required for the transaction?
Home address
Passport number
Email address or phone number
Social security number
Question 5
5.
What is the primary purpose of a digital wallet?
Digital wallets focus on contactless transactions with businesses
Digital wallets store cash in digital form
Digital wallets facilitate sharing money within a group
Digital wallets provide expense tracking for making budgets
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
Share their account details with friends
Avoid using P2P apps altogether
Verify the authenticity of communication by contacting the bank directly
Question 7
7.
Which of the following is an example of online bill pay?
Paying your credit card bill in person at a bank branch
Setting up an automatic transfer to your savings account
Using your bank’s website or app to schedule and pay your monthly bills
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 limits access to account information to regular business hours.
It provides 24/7 access to your account from any internet-enabled device.
Question 9
9.
All of the following are ways that you can keep your online bank account safe EXCEPT:
Using a strong, unique password for your online banking account
Using the same password across multiple accounts for convenience
Enabling two-factor authentication for an extra layer of security
Keeping your account login information private and secure
Question 10
10.
Which of the following practices can significantly reduce the risk of falling victim to phishing attacks targeting your online banking information?
Disabling email notifications for account activity to avoid clutter
Sharing your login credentials with trusted family members for easy access
Ignoring unsolicited emails that request account details and directly visiting your bank’s website to verify information
Using public Wi-Fi to access your online banking account for convenience