16. Which of the following is a benefit of online banking?
a) 24/7 access to account information
b) Convenient bill payment options
c) Ability to transfer funds between accounts
d) All of the above
17. What is the purpose of a bank statement?
a) To show the current balance in a bank account
b) To track deposits and withdrawals from a bank account
c) To provide proof of income for tax purposes
d) To apply for a loan
18. What is the difference between a checking account and a savings account?
a) Checking accounts pay interest, while savings accounts do not
b) Checking accounts have a higher minimum balance requirement than savings accounts
c) Checking accounts are used for everyday transactions, while savings accounts are used for long-term savings
d) There is no difference between a checking account and a savings account
19. What is the main advantage of a certificate of deposit (CD)?
a) Higher interest rates compared to regular savings accounts
b) Instant access to funds
c) Unlimited withdrawal options
d) No minimum balance requirement
20. What is the purpose of a home equity loan?
a) To finance the purchase of a home
b) To borrow against the value of a home for other purposes
c) To refinance an existing mortgage
d) To pay off credit card debt
