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Personal Finance Final Review

Personal Finance Final Review

Assessment

Flashcard

Life Skills

9th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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60 questions

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1.

FLASHCARD QUESTION

Front

A depository institution account that is designated to hold money not spent on current consumption.

Back

Savings Account

2.

FLASHCARD QUESTION

Front

An account at a depository institution that provides an easy method for withdrawing and depositing money.

Back

Checking Account

3.

FLASHCARD QUESTION

Front

Which type of savings tool is the MOST Liquid? Options: Savings, Checking, Certificate of Deposit, Money Market Account

Back

Checking

4.

FLASHCARD QUESTION

Front

Which type of savings tool typically earns the HIGHEST Interest? Options: Savings, Checking, Certificate of Deposit, Money Market Account

Back

Certificate of Deposit

5.

FLASHCARD QUESTION

Front

Which savings tool would you recommend Glenn utilize and why? Options: Checking Account because he can quickly access his funds daily and it is the MOST liquid option. Certificate of Deposit because he can earn a higher interest rate and doesn't need the money for a year

Back

Certificate of Deposit because he can earn a higher interest rate and doesn't need the money for a year

6.

FLASHCARD QUESTION

Front

Micah is a high school senior who works part‐time earning $500 per month. He is responsible for paying several of his own expenses including entertainment, automobile insurance and eating out. He needs a flexible account which allows him easy access to his money. Which savings tool would you recommend Glenn utilize and why?

Back

Checking Account because he needs access to his funds often.

7.

FLASHCARD QUESTION

Front

A record of the borrower’s past loan and credit‐related transactions.

Back

Credit History

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