College Plans
If I wanted to spend less time and money what education option would I choose?
Technical College or Trade School
Your Debit Card is linked to which type of account?
Debit Card
My paycheck gets electronically sent to my bank account because of what feature?
Direct Deposit
What banking fee is typically waived if you actively use your account?
Monthly Service Fee
How is the annual percentage rate (APR) on a loan different from the interest rate?
It includes interest and fees.
Student Loan that will require a credit check?
Private Loan
Savings account that requires a hire minimum balance than a Basic Saving Account, but the interest earned is NOT guaranteed.
Money Market Account
Should we use overdraft protection? Why?
No, because of the Fees you are charged after
The Fair Debt Collections Act Prohibits Collectors from doing what?
Calling Multiple times in a day, Calling in the middle of the night, showing up to your home.
Owned by its members
Credit Union
Money from the Federal Gov. to help pay for college is called?
Grant
Coach Riley needs a place to store his emergency fund. What type of account should he use?
Savings Account
Getting in touch with a person when you need assistances can be difficult with what type of institution?
Online Banks
Who insures the money we deposit into a bank?
FDIC Federal Deposit Insurance Company
True or false? All successful careers require you to attend a 4 year college?
False
Who receives and uses the information submitted in your FAFSA?
The schools you’ve applied to and your state government to determine your eligibility for financial aid.
My credit card is linked to what type of account.
None. A credit card is a loan. You pay your bill using your checkings account.
What services are offered by banks?
Mortgages, Check Writing, Debit Cards
Who makes up all of the banking laws in the US?
FED US Central Bank
The FDIC insures how much of your money deposited into a Bank?
$250,000
How long on average does it take to pay back student loans
20 years
If I wanted a savings option with a fixed interest rate that is guaranteed what option would I choose?
CD's Certificate of deposit
What account do I use for everyday Purchases and bills?
Checkings
What is it called when our economy is doing really bad and we have high unemployment Rates...
Depression.
What two numbers are required to set up Direct Deposit. Select all that apply. DAILY DOUBLE
Routing Number and Account Number