Certify Teacher Practice Test 2025 - Free Practice Questions and Study Guide

Question: 1 / 400

When introducing financial literacy concepts, which item is NOT a payment method?

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Small business loan

A small business loan is a form of financing rather than a payment method. It involves borrowing a fixed amount of money that must be repaid, typically with interest, over a set period. This contrasts with the other items listed, which are all direct payment methods used for transactions.

Checks, debit cards, and electronic payment methods such as Automatic Funds Transfer (AFT) and Electronic Funds Transfer (EFT) are mechanisms through which funds are directly exchanged from one party to another to settle a purchase or obligation. The focus of these payment methods is on completing transactions, making them integral to everyday financial activities, whereas a small business loan represents a broader financial tool aimed at funding a business's operations or expansion rather than making immediate payments.

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Debit Card

Electronic methods like AFT and EFT

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