AVID Semester 1 Final Review

Front

When a bank accepts your money, what do they do with it?

Back

They loan most of it out to people who need money for cars and homes, etc.

Front

An account you can deposit money into and then write checks or use debit card to withdraw money is known as a ____________________.

Back

Checking

Front

Moving money from one account to another is called a ______________.

Back

Transfer

Front

Putting money into an account is known as _______________.

Back

Depositing

Front

Which of the following about Debit cards is NOT true?
Options: They take money straight out of your bank account, You can be charged for using your debit card to take money out of another bank's ATM., Some banks have a limit on how much you can purchase with your debit card in a day., You never have to be concerned with someone committing fraud against your debit card.

Back

You never have to be concerned with someone committing fraud against your debit card.

Front

True or false:  grants need to be repaid.

Back

False

Front

True or false: scholarships are automatically renewed each year.

Back

False

Front

True or false: federal student aid can be used for tuition, books, supplies, and room and board.

Back

True

Front

Which application must be filled out if students want to be eligible for federal aid? Options: College, FAFSA, FASSA, Employment

Back

FAFSA

Front

Does scholarship money have to be repaid?

Back

No