Financial Literacy Flashcards

Front

All of the following make up the big three credit reporting agencies EXCEPT:

Back

Federal Reserve

Front

It's important to reconcile your checking account so you can make sure neither you or the bank have made mistakes.

Back

True

Front

Which are institutions that give loans? (Choose ALL that apply)

Back

Pawn shop, Bank, Credit union, Payday lender

Front

The Federal Reserve System: (Choose ALL that apply)

Back

is the central bank of the United States, regulates monetary policies of the United States, was created by Congress to provide a safer monetary system

Front

What is deflation? (Choose ALL that apply.)

Back

When there is a reduction in the supply of money or credit, The rate at which the general level of prices goes down

Front

What is a cashier's check?

Back

A check guaranteed by the bank that writes the check

Front

What is liquidity in business?

Back

how quickly you can convert an asset to cash

Front

Which savings vehicle is most liquid?

Back

money market account (MMA)

Front

Which of the following will charge the highest interest rate on a loan?

Back

Payday lenders

Front

What is a credit union?

Back

A non-profit institution that is owned by its members and often provides higher dividends and lower interest rates on loans