Title: QUIZ: Banks and Alternatives 101: Tax Refund Fees -- Personal Finance Conversations
Course: Andria Testing FRE2 > Section: Banks and Alternatives 101: Tax Refund Fees -- Personal Finance Conversations

Q: What is a temporary bank account set up by a tax-preparation service so that taxpayers can have their tax refund direct deposited by the IRS called?
- Refund anticipation check
- Refund anticipation loan
- Refund anticipation financing
- Refund anticipation marketing
A: Refund anticipation check

Q: What are the advantages of the refund anticipation check?
- Large upfront tax preparation service fees
- Reduced taxes owed to the government
- Reduced charge for tax preparation services
- Receive refund faster than a paper check
A: Receive refund faster than a paper check

Q: True or False: A refund anticipation check can include hidden or unexpected fees for e-filing and document processing in addition to the account set up and tax preparation fees.
- True
- False
A: True

Q: What is a short-term loan meant to be paid back when a borrower receives his tax refund?
- Refund anticipation check
- Refund anticipation loan
- Refund anticipation financing
- Refund anticipation marketing 
A: Refund anticipation loan

Q: True or False: The FDIC has prohibited banks from making refund anticipation loans, but many alternative financial service providers are able to issue these loans.
- True
- False
A: True

Q: True or False: The IRS has a website that allows you to file for free and have your refund direct deposited into your own account at a bank or credit union.
- True
- False
A: True