Bank Accounts
What is the term for the amount of money in your bank account?
True or False: There is no penalty if I pay my credit card balance after the due date.
False
Which two bank branches have a blue logo?
BMO and RBC
This is a spending plan based on income and expenses
A Budget
What's the difference between chequing and savings accounts?
Chequing: Used for everyday banking, money taken right out of account
Savings: Used to accomplish savings goals, money used will need to be paid back
This is a card that allows you to access money electronically from your bank account.
Debit Card
This bank is linked to scene points
Scotiabank
What is the term for savings that are set aside to handle financial emergencies?
Savings First Aid Kit
How old do you have to be to open your own bank account?
You can be any age. Children under 12 need a parent to help them.
When your employer deposits your pay into your bank account, it’s called...
Direct Deposit
What does CIBC stand for?
Canadian Imperial Bank of Commerce
You make a budget once and then don't need to do anything after that. T or F
False! You have to keep a budget up to date.
Tax Free Savings Account
What can happen if you try to take out cash from a different bank’s ATM?
You could be charged a fee
Fill in the blank: __ Canada Trust
TD
A budget helps you find places to save money for items or activities you want to do in the future. True or False?
True
What kind of account do you not earn interest on?
Chequing
What are the 3 numbers on the back of your credit card called?
CVV or Card Verification Value
What does TD stand for?
Toronto-Dominion
True or False: Real Estate is involved in financial literacy
True