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Financial Literacy

Quiz by Jessica Ross

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45 questions
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  • Q1
    A business that provides money-related services.
    Financial Institution
    30s
  • Q2
    Automated Teller Machine
    ATM
    30s
  • Q3
    An automatic deposit of a paycheck without having to take a physical check to the bank.
    Direct Deposit
    30s
  • Q4
    An account that allows quick access to funds for transactions
    checking account
    30s
  • Q5
    a bank account for saving money and sometimes earns interest
    savings account
    30s
  • Q6
    A company that will cash a check for a fee (usually a very high fee).
    check cashing company
    30s
  • Q7
    a 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
  • Q8
    type of savings account that pays a higher interest rate because the financial institution invests the money you deposit
    money market account
    30s
  • Q9
    interest earned on both the principal amount and any interest already earned
    compound interest
    30s
  • Q10
    interest paid on the principal alone
    simple interest
    30s
  • Q11
    to verify that the bank balance for money in your account is in agreement with your accounting records
    Reconcile a Bank Statement
    30s
  • 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 tips
    30s
  • Q13
    personal identification number
    PIN
    30s
  • Q14
    A 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 Skimmer
    30s
  • Q15
    a statement received monthly from the bank that shows the depositor's bank transactions and balances
    bank statement
    30s

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