A
Josh received his paycheck and decided to open an account just for spending. Which account Should he open?
What is a CHECKING ACCOUNT
True or False:
The recipient of a check signs the bottom of the check.
What is FALSE
If I write tomorrow's date on a check, what type of date would that be?
What is POSTDATE
A fee charged by the bank if you don't meet the requirements of the account.
What is a MAINTENANCE FEE
A card used to make payments and purchases and/or use at the ATM. Pulls money directly from your checking account.
What is a DEBIT CARD
Money that the financial institution allows you to borrow. Must be paid back and typically with interest.
A Loan
Within a single bank, how much of your deposit is insured?
$250,000
What tax do you pay to the federal government?
Federal Income Tax
What are the 3 main taxes that state governments generate income?
Sales Tax, Property Tax, Income Tax
A deposit is what kind of transaction?
What is a CREDIT
Online shopping would be listed under which section of a bank statement?
What is WITHDRAWALS
Your bills on autopay would represent what kind of transaction?
What is DEBIT
The amount of money you have in your bank account
What is BANK BALANCE
What does ATM stand for?
Wat is AUTOMATED TELLER MACHINE
Which financial institution is non-profit?
What is a CREDIT UNION
A document that shows your deposits, withdrawals, and how much money you have sitting in your bank account.
What is a BANK STATEMENT
Today, the tax rate for our highest tax bracket ($626,350) is 37%. What was the our tax rate for the highest tax bracket ever?
What is the employee's tax rate for Social Security and Medicare combined?
7.65%
Your aunt gave you a $100 check for your birthday. What was written on the PAY TO THE ORDER OF line?
What is MY NAME
What is the maximum amount for a money order?
What is $1,000
How do you calculate your ending balance on your bank statement?
What is
BEGINNING BALANCE+ DEPOSITS - WITDRAWALS-CHECKS PAID-SERVICE CHARGES & FEES
What insures the money in Commercial and Online banks?
What is the FDIC
True or False
If you make a mistake on a money order you can void it and write a new one.
What is FALSE
How would you write the amount
$5,463.14
What is FIVE THOUSAND FOUR HUNDRED SIXTY THREE 14/100
Which financial institution has the most locations?
What is COMMERCIAL BANKS