Money
Money serves as a medium of exchange because it:
The first step in creating a budget is to:
. The main purpose of a bank is to:
Credit is best defined as:
The purpose of insurance is to:
2. Which of the following is not considered money?
. A budget should include:
Banks are important to the economy because they:
. The main advantage of using credit responsibly is:
The person who buys an insurance policy is called the:
The main function of a bank is to:
13. A fixed expense example is:
A financial institution that offers full-service banking to individuals and businesses is a:
The amount of money borrowed on credit is called the:
The amount you pay for insurance coverage is called the:
The safest place to keep your money is:
A variable expense example is:
The FDIC protects consumers by:
Interest is best described as:
. The deductible is:
5. Interest earned on a savings account is:
If expenses are greater than income, you should:
5. Credit unions differ from banks because they:
A credit limit is:
A claim is:
A request for payment after a covered loss
. Gross pay is your income:
The Rule of 72 estimates:
A checking account is best for:
. Revolving credit allows you to:
Health insurance helps pay for:
A W-4 form helps your employer:
The time value of money means:
. A savings account is best used for:
An example of revolving credit is:
Life insurance provides money to:
A W-2 form shows:
. Which of the following is a short-term goal?
. The money you deposit into your account is called your:
. Installment credit is used when:
Auto insurance covers:
Net pay is also known as:
An emergency fund should cover:
. Interest on a savings account is:
An example of installment credit is:
Liability insurance protects you when:
. The FICA deduction on your paycheck funds:
A. Social Security and Medicare
. The best way to reach a financial goal is to:
.
The annual percentage yield (APY) measures:
Service credit is extended when:
Homeowner’s insurance covers: