Everfi Module 2 Questions and Answers
with Verified Solutions
Which of the following is a primary responsibility of the Federal Reserve Bank? ✔✔Establish
monetary policy
Which of the following represent typical account fees: ATM, Service, Minimum balance?
✔✔All of the above
Which type of financial institution typically has membership payments? ✔✔Credit Union
What's the purpose of balancing or monitoring your checking account? ✔✔To stop identity theft
Which type of account will typically have the highest interest rate? ✔✔Certificate of Deposit
(CD)
How often should you typically monitor your checking account? ✔✔Monthly
Which of the following is NOT a core component of the Federal Reserve Bank?
, Department of the Treasury
Regional Reserve Banks
Federal Open Market Committee
Board of Governors ✔✔Department of the Treasury
The best way to ensure the accuracy and safety of your accounts is to: ✔✔Monitor your online
accounts regularly
Which of the following is a unique feature of Credit Unions?
A. Typically owned and run by its members
B. Limit membership to a certain number of people or group
C. Offer wide variety of banking services ✔✔A & B
The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market
Committee (FOMC), and the: ✔✔Board of Governors
with Verified Solutions
Which of the following is a primary responsibility of the Federal Reserve Bank? ✔✔Establish
monetary policy
Which of the following represent typical account fees: ATM, Service, Minimum balance?
✔✔All of the above
Which type of financial institution typically has membership payments? ✔✔Credit Union
What's the purpose of balancing or monitoring your checking account? ✔✔To stop identity theft
Which type of account will typically have the highest interest rate? ✔✔Certificate of Deposit
(CD)
How often should you typically monitor your checking account? ✔✔Monthly
Which of the following is NOT a core component of the Federal Reserve Bank?
, Department of the Treasury
Regional Reserve Banks
Federal Open Market Committee
Board of Governors ✔✔Department of the Treasury
The best way to ensure the accuracy and safety of your accounts is to: ✔✔Monitor your online
accounts regularly
Which of the following is a unique feature of Credit Unions?
A. Typically owned and run by its members
B. Limit membership to a certain number of people or group
C. Offer wide variety of banking services ✔✔A & B
The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market
Committee (FOMC), and the: ✔✔Board of Governors
