Banking
T or F: Banks give money back to the members when they make money off giving loans
False
T or F:
They are for profit businesses?
False
T or F: There are only a few types of charities
False, there are many types of chariites.
Money added to your account for keeping it in a savings account.
What is interest?
How many months have 28 days?
Answer: What is all 12 months?
Money that the financial institution allows you to borrow. Must be paid back and typically with interest.
A loan
T or F: This insitution gives money back to the members when they make money off giving loans
True
75% of the money goes to the cause or less than 25% goes to the admin fees.
A fee charged when you spend more money than you have in your account.
Answer: What is an overdraft fee?
If you have me, you want to share me. If you share me, you don't have me. What am I?
Answer: What is a secret?
What three things do you need to open a checking account?
What is
Beginning deposit, Proof of residence/ID, Social Security
Which type of financial institution has the most locations?
What is COMMERCIAL BANKS
False, there are generally positive effects.
Credit union deposits are insured by this federal agency.
Answer: What is the NCUA?
A plane crashes on the border of Georgia and Florida. Where do they bury the survivors?
Answer: Nowhere—you don't bury survivors.
T or F: This is a for-profit business
True
Do banks charge more or less fees than credit unions?
Typically more
Bonus:
Tell me a time you gave to a charity. If you haven't tell me a charity you were interested in today.
N/A
This document lists a student's classes and grades and is often required for scholarship applications.
Answer: What is a transcript?
What can you catch but not throw?
A cold
This organization insures the money in Commercial and Online banks?
What is the FDIC
Which one typically has more locations?
Banks
Money given to a charity may qualify for this on income taxes.
Answer: What is a tax deduction?
Answer: What is a tax deduction?
What is the difference between a need-based scholarship and a merit-based scholarship?
Need-based is based on financial need; merit-based is based on achievement.
A farmer has 17 sheep. All but 9 run away.
Answer: What is 9?