Financial Literacy
Quiz by Jessica Ross
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45 questions
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- Q1A business that provides money-related services.Financial Institution30s
- Q2Automated Teller MachineATM30s
- Q3An automatic deposit of a paycheck without having to take a physical check to the bank.Direct Deposit30s
- Q4An account that allows quick access to funds for transactionschecking account30s
- Q5a bank account for saving money and sometimes earns interestsavings account30s
- Q6A company that will cash a check for a fee (usually a very high fee).check cashing company30s
- Q7a savings account that holds a fixed amount of money for a fixed period of time, such as 6 months, 1 year, or 5 years, and in exchange, the issuing bank pays interest. When you cash in or redeem your CD, you receive the money you originally invested plus any interest.Certificate of Deposit (CD)30s
- Q8type of savings account that pays a higher interest rate because the financial institution invests the money you depositmoney market account30s
- Q9interest earned on both the principal amount and any interest already earnedcompound interest30s
- Q10interest paid on the principal alonesimple interest30s
- Q11to verify that the bank balance for money in your account is in agreement with your accounting recordsReconcile a Bank Statement30s
- Q12
1. Keep PIN to yourself
2. Be aware of surroundings
3. Have debit card ready to go
4. Use body to "shield" ATM keyboard
5. Take receipt with you
6. Do not count or visually display your money
7. For drive-up ATM, be sure passenger windows are up and all doors locked
8. Check the ATM for a card skimmer
9. Check for suspicious people lurking nearby
10. Try to use ATM that has a visible surveillance camera
ATM safety tips30s - Q13personal identification numberPIN30s
- Q14A physical device, often attached to a legitimate card-reading device (such as ATM or gas pump payment) , designed to illegally capture and/or store the information from a payment card.Card Skimmer30s
- Q15a statement received monthly from the bank that shows the depositor's bank transactions and balancesbank statement30s