CMS PHARMACOLOGY PROCTORED/ATI
PHARMACOLOGY PROCTORED EXAM V1 133 Q & A’S
ASSURED A+ DOWNLOAD!!
When choosing a bank, why might ATM availability be valuable to someone who
values convenience over cost? - ANSWER: A greater availability of ATMs may make it
easier to do bank transactions. Someone may choose this availability over a higher
savings interest rate.
Henry is moving and needs to open a new checking account. He is trying to decide
between three banks using the chart below:
Henry usually has about $300 in his account at any given time during the month. He
limits his ATM visits to one per week and is interested in banking online options.
Bank X and Bank Z have 5 ATMs within a 5 mile radius of Henry's work and his new
home. Which bank should he choose? - ANSWER: Bank Z
Minimum opening balance - ANSWER: The minimum opening balance is the initial
dollar amount set by the bank that is required to open a account.
Overdraft fee - ANSWER: An overdraft fee is charged to an account when
withdrawals from it exceed the available funds and cause a negative balance. This
fee is incurred for every transaction that exceeds the available funds.
Fixed interest rate - ANSWER: A fixed interest rate is an interest rate that does not
change for the life time of the account.
Variable interest rate - ANSWER: A variable interest rate is an interest rate that can
change over the life time of the account.
Steven is looking at banks for checking and savings accounts. Some offer home loans
and others do not. Steven may need a home loan sometime in the next few years.
But he wonders if he should really ask what kinds of loans the bank makes, because
he is getting a checking account, not a home loan. Which statement below gives the
best reason for Steven to consider loan availability in choosing a checking account? -
ANSWER: If he needs a home loan in the future, he will have a relationship with the
bank.
Which of the following items may not be a good consideration in selecting a bank? -
ANSWER: The word "FREE" is prominently displayed in the marketing pamphlet.
Which of these is not a factor you need to consider when choosing a bank? -
ANSWER: The amount of money you paid in income taxes last year
Jan wants to save a $2000 gift from her grandparents, and add $50 per month as
emergency funds. She has narrowed her search for a savings account to 2 banks,
, Bank A and Bank B. Bank A pays a fixed rate of interest, and Bank B pays a variable
rate, but both rates are currently the same. What advice would you give Jan about
how to choose an account based upon her own needs?
I. The fees and services will make a much bigger difference than the type of interest
while your balances are small.
II. The more that you expect to save, the more you should think about what effect
the interest rates might have on your finances.
III. Choose the variable rate, because no matter what the fees are, if it goes way up,
you could become richer. - ANSWER: I and II
You are examining your choices of banks to open a new savings account. Costs
include monthly maintenance fees and statement copy fees. Income can come from
___________. - ANSWER: Interest on deposits
Anna is choosing a bank and a checking account. She would be well-advised to
consider her personal needs and values in the analysis, not only the bank's features.
- ANSWER: T
Downtown Bank offers a checking account. The bank charges a fee for overdrafts,
monthly maintenance for balances below $300, out-of-network ATM withdrawals,
and more than three money transfers in a month.
What are three things you can do to avoid fees from a Downtown Bank checking
account? - ANSWER: 1. Always keep more than $300 in your account.
2. Always keep track of your balance
3. Avoid making out-of-network ATM withdrawls.
4. Avoid making more than three money transfers each month.
Ben is looking at banks for checking and savings accounts. Some offer car loans and
others do not. Ben may need a car loan sometime in the next few years. But Ben
wonders if he should really ask what kinds of loans the bank makes, because he is
getting a checking account, not a car loan. Which statement below gives the best
reason for Ben to consider loan availability in choosing a checking account? -
ANSWER: If he needs a car loan in the future, he will have a relationship of trust with
the bank.
If you were teaching a foreign visitor about checking and savings accounts at banks
and credit unions in the USA, which item below would you say consumers of these
accounts usually do not have as a protection of their rights? - ANSWER: No
automatic fees charged to the account.
Jenna wants to save a $10,000 trust fund she received when she turned 21, and add
$50 per month as emergency funds. She has narrowed her search for a savings
account to 2 banks, Bank A and Bank B. Bank A pays a fixed rate of interest, and Bank
B pays a variable rate, but both rates are currently the same. Jenna's trusted friend
advises her to make the selection based upon her banking needs in consideration of
the other services and fees of the banks, because the interest rates are the same.
PHARMACOLOGY PROCTORED EXAM V1 133 Q & A’S
ASSURED A+ DOWNLOAD!!
When choosing a bank, why might ATM availability be valuable to someone who
values convenience over cost? - ANSWER: A greater availability of ATMs may make it
easier to do bank transactions. Someone may choose this availability over a higher
savings interest rate.
Henry is moving and needs to open a new checking account. He is trying to decide
between three banks using the chart below:
Henry usually has about $300 in his account at any given time during the month. He
limits his ATM visits to one per week and is interested in banking online options.
Bank X and Bank Z have 5 ATMs within a 5 mile radius of Henry's work and his new
home. Which bank should he choose? - ANSWER: Bank Z
Minimum opening balance - ANSWER: The minimum opening balance is the initial
dollar amount set by the bank that is required to open a account.
Overdraft fee - ANSWER: An overdraft fee is charged to an account when
withdrawals from it exceed the available funds and cause a negative balance. This
fee is incurred for every transaction that exceeds the available funds.
Fixed interest rate - ANSWER: A fixed interest rate is an interest rate that does not
change for the life time of the account.
Variable interest rate - ANSWER: A variable interest rate is an interest rate that can
change over the life time of the account.
Steven is looking at banks for checking and savings accounts. Some offer home loans
and others do not. Steven may need a home loan sometime in the next few years.
But he wonders if he should really ask what kinds of loans the bank makes, because
he is getting a checking account, not a home loan. Which statement below gives the
best reason for Steven to consider loan availability in choosing a checking account? -
ANSWER: If he needs a home loan in the future, he will have a relationship with the
bank.
Which of the following items may not be a good consideration in selecting a bank? -
ANSWER: The word "FREE" is prominently displayed in the marketing pamphlet.
Which of these is not a factor you need to consider when choosing a bank? -
ANSWER: The amount of money you paid in income taxes last year
Jan wants to save a $2000 gift from her grandparents, and add $50 per month as
emergency funds. She has narrowed her search for a savings account to 2 banks,
, Bank A and Bank B. Bank A pays a fixed rate of interest, and Bank B pays a variable
rate, but both rates are currently the same. What advice would you give Jan about
how to choose an account based upon her own needs?
I. The fees and services will make a much bigger difference than the type of interest
while your balances are small.
II. The more that you expect to save, the more you should think about what effect
the interest rates might have on your finances.
III. Choose the variable rate, because no matter what the fees are, if it goes way up,
you could become richer. - ANSWER: I and II
You are examining your choices of banks to open a new savings account. Costs
include monthly maintenance fees and statement copy fees. Income can come from
___________. - ANSWER: Interest on deposits
Anna is choosing a bank and a checking account. She would be well-advised to
consider her personal needs and values in the analysis, not only the bank's features.
- ANSWER: T
Downtown Bank offers a checking account. The bank charges a fee for overdrafts,
monthly maintenance for balances below $300, out-of-network ATM withdrawals,
and more than three money transfers in a month.
What are three things you can do to avoid fees from a Downtown Bank checking
account? - ANSWER: 1. Always keep more than $300 in your account.
2. Always keep track of your balance
3. Avoid making out-of-network ATM withdrawls.
4. Avoid making more than three money transfers each month.
Ben is looking at banks for checking and savings accounts. Some offer car loans and
others do not. Ben may need a car loan sometime in the next few years. But Ben
wonders if he should really ask what kinds of loans the bank makes, because he is
getting a checking account, not a car loan. Which statement below gives the best
reason for Ben to consider loan availability in choosing a checking account? -
ANSWER: If he needs a car loan in the future, he will have a relationship of trust with
the bank.
If you were teaching a foreign visitor about checking and savings accounts at banks
and credit unions in the USA, which item below would you say consumers of these
accounts usually do not have as a protection of their rights? - ANSWER: No
automatic fees charged to the account.
Jenna wants to save a $10,000 trust fund she received when she turned 21, and add
$50 per month as emergency funds. She has narrowed her search for a savings
account to 2 banks, Bank A and Bank B. Bank A pays a fixed rate of interest, and Bank
B pays a variable rate, but both rates are currently the same. Jenna's trusted friend
advises her to make the selection based upon her banking needs in consideration of
the other services and fees of the banks, because the interest rates are the same.
