You should always write in ______ when filling out a check.
What is a pen
100
Why is a checking account also called a demand deposit?
What is because you can demand the bank to pay money to someone else.
100
How much of your paycheck should you typically save?
What is 10%
100
True or False. Most Americans pay off their credit card bills in full every month.
What is False.
100
Why is it important to have a good credit rating?
What is you most likely can't borrow money from lendors if your credit rating is not good.
200
To deposit or cash a check that is written to you, what do you have to do to the check first?
What is endorse the check
200
What is the check number that is printed on the top right of the check used for?
What is record keeping purposes.
200
What is regular voluntary saving? Give an example.
What is taking money from each paycheck and putting it into savings. When Maria gets paid, she takes $100 and puts it into her Wells Fargo savings account.
200
What is the major difference between a debit card & a credit card?
What is with a debit card you can only spend as much as you have in your account. A credit card you can spend up to your maximum credit limit and pay the money back in a flexible way.
200
How often can you get a free copy of your credit report?
What is once per year.
300
A person to whom you want your money to go.
What is payee
300
Why is it always a good idea to have your name & address printed on your checks?
What is so anyone you write a check to can contact you if there is a problem.
300
________ Americans find it hardest to save because they have lwoer incomes and have not had a chance to buy many things they will need during their lives.
What is Young.
300
If we pay off our credit card bill in full every month, how much interest do we owe?
What is none.
300
What happens to your credit score if you miss a payment or are late on a payment?
What is your credit score will go down.
400
If the date on the check is older than ______ ______ it will not be honored by the bank.
What is six months.
400
What are the three reasons you should not bounce a check?
1. What is you will pay a steep fee for bounced checks.
2. What is it will hurt your reputation
3. What is it is against the law.
400
Which country has the lowest personal savings rate?
What is the United States.
400
If your credit card is lost or stolen, by law how much money can you lose?
What is $50.
400
Who do the three credit bureaus in the U.S collect information on?
What is everyone!
500
What is the magnetic image character recognition code (MICR) that is printed on the bottom of the check used for?
What is identifies the bank where your check has been deposited
500
What does the bank give you to carry with your checks to record the cheks you write?
What is check registry.
500
Give an example of consumption saving.
What is buying a car. We pay for the car over a period of time, and at the end of that period the car belongs to us.
500
What is one disadvantage of using a credit card?
What is you are tempted to spend more money than you have.
500
Name the three credit bureaus in the United States.