EPF, Module 6-7 Flashcard

Front

Which bill is the most counterfeited in the United States? Options: $5, $10, $20, $50

Back

$20

Front

Which of the following pairs is an example of a commodity? (Module 6, Finance Lesson 1: Financial Institutions) Gold and Silver, Gold and the U.S. dollar, U.S Dollar and the Euro, U.S. Dollar and copper

Back

Gold and Silver

Front

An insurance agency is considered a financial institution. (Module 6, Finance Lesson 1: Financial Institutions)

Back

True

Front

Hannah is considering opening an account at a financial institution. What benefits can she expect from doing so?

Back

security for your money, services to help manage your money, services to help your finance grow

Front

A credit union is not a financial institution. (Module 6, Finance Lesson 1: Financial Institutions)

Back

False

Front

This sticker on a bank window tells a consumer that the bank insures their deposits to at least $350,000.

Back

False

Front

A checking account can best be defined as which of the following? An account that typically has withdrawal restrictions but can yield a better interest rate., An account in which a customer deposits money for use and easy access., An account in which the bank pays the customer’s bills and charges the customer interest., An account where money is put into to earn interest and the customer makes withdrawals at retirement.

Back

An account in which a customer deposits money for use and easy access.

Front

What does NSF stand for in the context of a check being returned by the bank?

Back

Non-Sufficient Funds

Front

Rohan is learning about financial institutions. Which statement below is not true? An unbanked consumer may have a difficult time cashing checks without paying a service fee. An unbanked consumer may have a difficult time acquiring loans. A direct deposit is an example of an electronic monetary transaction. A bank is the only financial institution that provides financial education.

Back

A bank is the only financial institution that provides financial education.

Front

Cash, checks, debit cards, and credit cards are all accepted as monetary forms of payment. (Module 7, Finance Lesson 2: Making The Most of Your Money)

Back

True