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H&R Block Quiz 1 Questions And Answers With Verified Solutions Already Passed Newest Updated 2025
H&R Block Quiz 1 Questions And Answers With Verified Solutions Already Passed Newest Updated 2025
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H&R Block Quiz 1 Questions AndAnswers With Verified Solutions Already
Passed Newest Updated 2025
What's the difference between credit unions and consumer banks?
Answer: Credit unions are membership-based and not open to the general
public.
What is a downside of online-only banks?
Answer: Some transactions require in-person visits and cannot be completed
online.
Why might someone choose a consumer bank over a credit union?
Answer: Consumer banks generally offer a wider range of financial services
compared to credit unions.
What is a key factor to consider when opening a checking account?
Answer: It's important to understand the fees that come with maintaining
and using the account.
With $4000 to save, which account would likely offer the best interest rate?
Answer: A certificate of deposit (CD) would typically offer the highest
interest rate, although it has a penalty for early withdrawals.
Which type of account offers the most access to funds?
Answer: A checking account is the most liquid, allowing easy access to
your money.
Why use ACH payments for recurring bills?
Answer: Setting up automatic payments ensures that bills are paid on time,
reducing the risk of missed payments.
How does overdraft protection work?
Answer: Overdraft protection relies on having funds in a linked account to
cover any overdrafts.
What kind of transaction would result in a debit from your account?
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