Exam (elaborations)
PERSONAL FINANCE CHAPTER 8 QUESTIONS WITH CORRECT ANSWERS
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PERSONAL FINANCE CHAPTER 8 QUESTIONS WITH CORRECT ANSWERS
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PERSONAL FINANCE CHAPTER 8QUESTIONS WITH CORRECT ANSWERS
Liquidity ssis ss. ss. ss.
How ssquickly ssand sseasily ssyou sscan ssaccess ssyour ssmoney
A ssgreat ssway ssto ssfind ssa ssfinancial ssservice ssthat's ssright ssfor ssyou
When ssyou ssdeposit sssilver ssor ssgold ssand ssthey ssliquify ssit ssfor ssyou
How ssmoney ssflows ssfrom ssbank ssto ssbank ss- ssAnswer ssHow ssquickly ssand sseasily
ssyou sscan ssaccess ssyour ssmoney
As ssthe ssowner ssof ssyour ssaccount, ssmanaging ssyour ssmoney ssis ss______
ssresponsibility.
Not ssyour
Your
Your ssparent's
The ssbanks ss- ssAnswer ssYour
A ssbank sscan sshelp ssyou ss_____ ssyour ssmoney ssand sskeep ssit ss_____.
Manage; sssafe
Find; ssgrowing
Deposit; ssbudgeted
Budget; ssavailable ss- ssAnswer ssManage; sssafe
You ssshould ssavoid ssany ssbank ssservice ssthat ssleads ssto ss. ss. ss.
Multiple sschecking ssaccounts
Savings
Debt
Gaining ssinterest ss- ssAnswer ssDebt
With ssonline ssbanks, ssall ssof ssyour ssdeposits, sstransfers, ssand ssbill sspayments
sshappen ssdigitally, ssbut ss. ss. ss.
Online ssbanks ssshould ssnever ssbe sstrusted
These ssbanks ssdo ssnot ssoffer ssinterest sson sssavings ssaccounts
It's ssoften ssmore ssdifficult ssto ssget ssin sstouch sswith ssa ssreal ssperson sswhen ssyou
ssneed ssassistance
They ssdo ssnot ssprovide ssa ssdebit sscard ss- ssAnswer ssIt's ssoften ssmore ssdifficult ssto
ssget ssin sstouch sswith ssa ssreal ssperson sswhen ssyou ssneed ssassistance
With sscertificates ssof ssdeposit ss(CDs), ssyou sshave ssto sspay ssa sspenalty ssfor
ss____________.
, Withdrawing ssyour ssmoney ssearly
Depositing ssmoney ssinto ssthe ssaccount
Creating ssa sssavings ssaccount
Using ssan ssATM ss- ssAnswer ssWithdrawing ssyour ssmoney ssearly
You ssneed ssto sstrack sseverything ssthat ssinvolves ssmoney, ssincluding ss. ss. ss.
Your ssclothing ssbudget ssfor ssthe ssmonth
Debit sscard sspurchases, ssthird-party ssapp sstransactions, ssand ssATM sswithdrawals
All ssof ssthe sssales ssthat ssare sscurrently sshappening
The sslatest ssretail ssstore sscredit sscard ssoffers ss- ssAnswer ssDebit sscard sspurchases,
ssthird-party ssapp sstransactions, ssand ssATM sswithdrawals
If ssyou sssee ss"pending" sson ssan ssaccount sscharge, ssthat ssmeans. ss. ss.
You ssneed ssto ssmake ssa ssdeposit ssbefore ssit ssis sspaid
The sspayment sswas ssdeclined
It sshasn't ssbeen ssfully ssprocessed ssyet
It ssis sssuspected ssof ssbeing ssa ssfraudulent sscharge ss- ssAnswer ssIt sshasn't ssbeen
ssfully ssprocessed ssyet
The ssFederal ssDeposit ssInsurance ssCorporation ss(FDIC) ssand ssNational ssCredit
ssUnion ssAdministration ss(NCUA) sskeep ssyour ssmoney ssin ssthe ssbank ssinsured ssup
ssto ss______ ssper ssaccount.
$250
$2,500
$25,000
$250,000 ss- ssAnswer ss250,000
If ssyou sssee ssa sscharge ssyou ssdon't ssrecognize, ssyou ssshould ssreport ssit ssto ssyour
ssbank ssimmediately.
True
False ss- ssAnswer ssTrue
Banks ssinvest sstheir sscustomers' ssdeposited ssmoney ssand ssthen ss. ss. ss.
Earn ssinterest, sskeeping ssall ssof ssit ssas sstheir ssown ssprofit
Typically sslose sssome ssof ssit ssin ssrisky ssinvestment ssdeals
Pay sstheir sscustomers ss100% ssof ssthe ssearned ssinterest
Earn ssinterest, sspaying ssthe sscustomer ssa sssmall ssamount ssof ssinterest sson sstheir
ssaccounts ss- ssAnswer ssEarn ssinterest, sspaying ssthe sscustomer ssa sssmall ssamount ssof
ssinterest sson sstheir ssaccounts
A ssdebit sscard sslinked sswith ssyour sschecking ssaccount ssis ssa ssgood ssoption ssfor
ssregular ssspending.
True
False ss- ssAnswer ssTrue
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