Economics & Personal Finance Study Guide 23-24 Flashcard

Front

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the:

Back

Federal Deposit Insurance Corporation (FDIC)

Front

When a person brings an item to a pawnshop to obtain cash, the transaction is considered:

Back

A collateralized loan

Front

A person has three credit cards with very large outstanding balances and is unable to make payments on any of them. Which action should the person take?

Back

Notify the credit card companies in order to negotiate a new payment plan

Front

How can you avoid becoming a victim of identity theft?

Back

Avoid giving your security number on a phone call you did not initiate.

Front

Consumer Credit Counseling Services (CCCS) offer: Retirement Plans, Stocks and Bonds, Debt Repayment Plans, Insurance Policies

Back

Debt Repayment Plans

Front

Which of the following does the Federal Reserve use to regulate the nation's money supply?
Options: Monetary Policy, Proposing Legislation, Fiscal Policy, Regulations

Back

Monetary Policy

Front

How can Mrs. Knott get the $75 back after Mrs. Moore withdrew $100 instead of the agreed $25?

Back

No bank or government agency is obligated to reimburse Mrs. Knott because she authorized Mrs. Moore to use her ATM card and PIN.

Front

Electricity and food expenditures are

Back

Fixed expenses that remain the same from one period to another

Front

In creating her budget, Ann realizes that her expenses exceed her income. Ann should immediately try to

Back

Reduce or eliminate some expenses

Front

Buying a treasury bill (T-bill) is best for investors who are looking for

Back

a secure, low risk investment