Banking Flashcardizz

Front

Making several credit card payments in a month instead of one large payment will help improve a person's credit mix.

Back

False

Front

Which of the following assets would be the most liquid?
Options:
Money invested in CD that matures in one month.
Money in an IRA account.
Money in your savings account.
Cash in your wallet.

Back

Cash in your wallet.

Front

If you want to avoid using personal check to pay someone because you don't want them knowing personal information, and don't want the money pulled directly from your account, you should use a____

Back

money order

Front

Which of the following is the correct formula for simple interest? Options: Principle X Rate + Time, Principle X Rate X Time, Principle + Rate + Time, Principle +Rate-Time

Back

Principle X Rate X Time

Front

Which of the following is an effective way to set aside money for personal savings? Look at the balance in your checking account at the end of the month and save whatever is left., Pay for your needs and wants each month and save any money that is left., Take out a payday loan so you can start saving money before you get your paycheck., Set aside a percentage of your paycheck each month and put it directly into savings.

Back

Set aside a percentage of your paycheck each month and put it directly into savings.

Front

Which of the following accurately describes FDIC insurance?

Back

It guarantees that an account holder's money in a bank is safe and insured up to $250,000.

Front

Which of the following is not one of the major credit reporting agencies? Experian, Equifax, Vanguard, Transunion

Back

Vanguard

Front

Which of the following accounts would offer the lowest interest rate? IRA, Certificate of Deposit, Money Market, Regular Savings

Back

Regular Savings

Front

A lower credit score means you are less risky to lenders.

Back

False

Front

Secured loans are protected by: A garnishment, Liability Insurance, A lien, Collateral

Back

Collateral