Banking Everfi answers

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The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market Committee (FOMC), and the:

Board of Governors

Which of the following represent typical account fees?

All of the above

Which of the following is NOT a core component of the Federal Reserve Bank?

Department of the Treasury

Which of the following is a unique feature of credit unions?

Both A and B

With a traditional savings account, you could be charged a fee if:

You withdraw money too often

Which type of account is typically the MOST liquid?

Checking account

What’s the purpose of balancing or monitoring your checking account?

to help you calculate how much money you have in your account

Which type of financial institution typically has membership requirements?

Credit Union

How often should you typically monitor your checking account?


Which type of account will typically have the highest interest rate?

Certificate of Deposit (CD)

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