Personal Finance Test 2
Terms in this set (24)
What is the four-digit number used with your debit card?
What is the name of the booklet you record your transactions in?
Which card allows you to withdraw money from the ATM?
What is the name of the slip you use when you are putting money into your banking account?
When should you sign your name on the front of a deposit slip?
When you get cash back
What is the money the bank will pay depositors for keeping it in their accounts called?
When you borrow money from a bank, where does the money come from?
The accounts of the bank's customers
T/F: A debit card and a checkbook are usually things that you get with a savings account
False- banking account
T/F: Writing a check for an amount that is more than what you have is called overdrawing
T/F: Money that a bank lends to a borrower that must be paid back in full plus interest is called a loan
T/F: If Runette writes a check, she must endorse the back of it
False- the person cashing it must endorse it
T/F: Stephanie must submit her check register to her bank each year to verify her transactions
T/F: A method of a banking in which transactions are conducted electronically via the Internet is called online banking
T/F: Megan is able to receive cash back when using a credit card
False- debit card
T/F: If Czareena pays for something with her debit card, the money comes out of her checking account
T/F: Francesca and Taylor will be charged interest if their credit card balances remain unpaid
If Sophia was to get direct deposit from her employer, what does that mean?
Sophia will not receive a pay check because the money will go directly into her account electronically
Compare and Contrast banks and credit unions
-deals with money
What is the name of the bank where Mr. Marcello got scammed and how much money?
Wells Fargo- $2700
What does APR stand for?
Annual Percentage Rate
What is the name of the movie trailer we saw in class?
Catch Me If You Can
Checking account number