What is a business that provides financial services
100
Name two depository institutions.
What is commercial bank and Credit Union
100
How do you calculate net worth?
What is your total assets minus total liabilities
100
What are taxes?
What is sum of money demanded by a government to support the government itself as well as specific facilities or services
100
What is state income tax?
What is an optional tax that certain states decide to apply
200
What is a debit card?
What is a plastic card that is electronically connected to the card holders bank account
200
What are the most important things to consider when choosing a bank?
What is location, multiple location, and benefits
200
What is a tangible asset?
What is personal property that was purchased to create a lifestyle or improve your life
200
What type of tax is on earned income?
What is payroll tax
200
What is special about Excise tax
What is hidden by the seller/retailer in the price
300
What is the difference between a bank and a Credit Union?
What is bank is for profit and Credit Union is not for profit
300
What are two benefits depository institutions can provide?
What is help manage money, opportunity to earn interest, and have a safe secure place to store money
300
What is the Statement of Financial Position?
What is a financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities and net worth
300
What is the difference between earned and unearned income?
What is earned income is money earned from working for pay and unearned income is income received from sources other than employment
300
What is sales tax?
What is a percentage of what an item cost added to the original price
400
What are the services for depository institution?
What is safe deposit, financial advice, credit, transaction and saving tools and special needs payments
400
Name the 2 types of fees associated with the depository institution.
What is an overdraft fee and ATM fees
400
How can a person increase their net worth?
What is by evaluating how they manage their money
400
What is income tax?
What is a tax on earned and unearned income
400
What is interest?
What is the price paid for using someone else's money
500
What are the five features of Depository Institution?
What is mobile banking, online banking, debit card, contact list payment, and ATM's
500
How does location play a factor in choosing a depository institution?
What is does it have multiple locations and is it in distance to you
500
Why should you keep your net worth in mind when making financial decisions?
What is your present self impacts your future self
500
What are the benefits of taxes?
What is public schools, creation of roads, libraries, recreation, fire and police departments, military security, and government benefits
500
What tax service provides funds for social security and medicare programs?