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Q 1/30
Score 0
Money deposited into a checking account from an employer is called a demand deposit.
60
True
False
Q 2/30
Score 0
A prepaid phone card is an example of a debit card.
60
True
False
30 questions
Q.
Money deposited into a checking account from an employer is called a demand deposit.
1
60 sec
Q.
A prepaid phone card is an example of a debit card.
2
60 sec
Q.
A credit union is a financial institution that is owned by its members.
3
60 sec
Q.
Annual Percentage Yield (APY) is money you pay the credit card company.
4
60 sec
Q.
Check Cashing Outlets and Pawn Shops offer Payday Loans with high finance charges to desperate borrowers.
5
60 sec
Q.
A stop-payment order is a request that a bank or other financial institution not cash a particular check.
6
60 sec
Q.
You can withdraw money from a money-market account with out penalities.
7
60 sec
Q.
When choosing a savings institution, convenience, fees and location should be a major consideration
8
60 sec
Q.
Overdraft protection is an automatic loan made to an account if the balance will not cover the checks you wrote, Debit cards purchases or automatic payments online.
9
60 sec
Q.
A restrictive endorsement allows you to transfer a check to an organization or another person.
10
60 sec
Q.
Which of the following financial services is best suited for saving money over a period of years (long term goal)?
11
60 sec
Q.
Credit cards allow you to...
12
60 sec
Q.
Problematic financial businesses include each of the following EXCEPT
13
60 sec
Q.
The Federal Deposit Insurance Corporation insures deposits in accounts for up to %250,000 in the case of a
14
60 sec
Q.
Compared with commercial banks, credit unions, which are non profit, generally offer
15
60 sec
Q.
To earn high interest rates of a certificate of deposit, you must accept all the following limitations EXCEPT
16
60 sec
Q.
In which kind of savings plan does the interest rate vary from month to month?
17
60 sec
Q.
If you deposit $100 in an account with an annual interest rate 6 percent compounded monthly, after 12 months you will have
18
60 sec
Q.
When writing a check payable to someone , include all of the following EXCEPT
19
60 sec
Q.
The first step in balancing a checkbook is
20
60 sec
Q.
An automatic deposit of an employee's paycheck into a designated bank account?
21
60 sec
Q.
The process in which interest is earned on both the principal and any previously earned interest?
22
60 sec
Q.
A nonprofit financial institution that is owned by its members and organized for their benefit?
23
60 sec
Q.
A card issued by a financial institution that allows you to withdraw money from your account or pay for purchases by deducting funds directly from your account?
24
60 sec
Q.
A savings account in which the interest rate varies as market rates change?
25
60 sec
Q.
The type of interest that a financial institution would pay on a $100 deposit, after compounding, for one year?
26
60 sec
Q.
A savings alternative in which money is left on deposit for a fixed amount of time to earn of specific rate of return?
27
60 sec
Q.
Bobby wants to save up for his wedding in 2 years, which type of interest bearing savings account should he pick? He wants the highest interest and be able to liquidate anytime.
28
60 sec
Q.
The signature of a payee on the back of a check?
29
60 sec
Q.
A for-profit institution that offers a full range of financial services?
