Unit 4: Personal Finance

Front

Which type of bank account is best for everyday transactions?

Back

Checking Account

Front

Which payment option takes money out of your bank immediately? Debit Card, Loan, Credit Card, Check

Back

Debit Card

Front

Which of the following is TRUE regarding unexpected expenses? They should be planned for., They usually don't affect your ability to pay bills., They should not be included in your budget., They usually don’t affect your budget.

Back

They should be planned for.

Front

Why is insurance an important financial investment?

Back

In cases of an accident, theft, or unpredictable events the insurance protects against financial loss.

Front

Which is a positive reason for using a credit card to finance purchases?

Back

Paying it off on time can help build your credit history.

Front

Annual Percentage Rate (APR), credit limit, and penalties and fees are important to consider when _____

Back

Choosing a credit card

Front

What is the best way to avoid spending more than what is in your bank account? Options: Keep your own records to compare with your financial institution's records., Check your bank statement once a month., Ask your financial institution to notify you when you are close to $0 in your account., None of these

Back

Keep your own records to compare with your financial institution's records.

Front

Paying only the minimum balance on your credit card can lead to:

Back

paying more interest

Front

Which of the following is a benefit of using a budget?
- Helps reach short- and long-term financial goals
- Helps to prioritize your spending
- Helps to keep track of the money you receive

Back

All of these

Front

If there is a mistake with one of your bank accounts, who should you contact to resolve the issue?

Back

Your financial institution