A report listing your debts, activity on your accounts and credit rating.
What is a Credit Report?
100
What is the income you earn before taxes and deductibles?
What is Gross pay.
100
Name two service fees the bank can charge you?
What is monthly maintenance fees, ATM use fee, overdraft fee, non-sufficient funds fee, stop payment fee
100
Income that is not used... money set aside for future use.
What is Savings?
200
Name two main bank employees that work in most branches.
What is a manager, loan officer, teller, customer service representative.
200
The smallest payment you are allowed to make toward the balance due on your statement.
What is Minimum Payment?
200
What is the money you earn after taxes and deductibles?
What is Net Pay.
200
What are three of the 6 items you need to complete on a check?
What is Date, payee, signature, for (memo), dollars in written form, amount numerically.
200
A plan of saving money for when you are no longer are working.
What is a "retirement plan?"
300
A record of deposits, withdrawals and the balance in your account.
What is a Bank Statement?
300
Why is it important to have credit? Give two examples.
What is
A. It will allow you to buy a house or a large purchase.
B. Emergencies.
C. It is more convenient than cash.
300
What are expenses that don't change each month called?
What is Fixed Expenses.
300
What are two advantages of writing a check instead of using cash?
What is it is safer through the mail, you have a record, you begin a credit history.
300
What are some reasons people save their money?
What is Unexpected events (loss of job, major car repair, medical emergency), down payment (house, car, major purchase), college education, vacation, retirement.
400
Money the bank pays you for keeping your money in an account or the money you owe on money you borrow.
What is interest?
400
What two items will the bank accept as collateral?
What is Home, Automobile, Savings Account.
400
You are a clerk at a video store. A customer buys a used video game for $14.50 and gives you $20. This is the amount of change returned to the customer.
What is $5.50?
400
What should you have printed on all your checks?
What is Name, address, phone number.
400
When a corporation divides the ownership into pieces to sell to investors called “shares”
What is a stock?
500
A check that is returned to the bank because there isn't enough money in the account to cover it.
What is a Bounced Check?
500
What are the two types of interest rates?
What is Fixed and Variable.
500
Mary has a 20% off coupon to use on a shirt that cost $10.00. This is the sale price of the shirt.
What is $8.00?
500
Where do you record your checks, deposits, fees, and ATM transactions?
What is a check register.
500
How can you make your money grow?
What is earning interest and leaving it in an account for a long period of time.