Banking and Money Management

___________________ is the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

• Debit
• Credit
• Extension
• Interest

____________________ is to take money from a personal or business account.

• Debit
• Credit
• Entension
• Interest

___________________ is a charge for borrowed money generally a percentage of the amount borrowed.

• Debit
• Price
• Extension
• Interest

______________________ are expenses that change depending on your use of products or services. For example, painting the garage or replacing the car battery.

• Fixed Expenses
• Final Expenses
• Variable Expenses
• Prices

____________________ are expenses that remain the same every month.  Such as rent, car payment, and real estate taxes.

• Fixed Expenses
• Final Expenses
• Variable Expenses
• Prices

__________________ is a portion of a salary or wages that an employee actually gets (takes home) after paying all deductions and taxes

• Net Income
• Gross Income
• Complete Income
• Incomplete Income

___________________ is the amount of wages earned by an employee before the appropriate taxes and deductions are taken out.

• Net Income
• Gross Income
• Complete Income
• Incomplete Income

The _______________ is a United States government corporation operating as an independent agency created by the Banking Act of 1933. As of August 2014, it provides deposit insurance guaranteeing the safety of a depositor's accounts in member banks up to $250,000 for each deposit ownership category in each insured bank.

• FICA
• EEOC
• FAA
• FDIC

A ________________ bank is a financial institutions that deals in mortgages, making loans, and packaging them as securities for sale in the secondary market

• Mortgage
• Investment
• Commercial
• Credit Union

A _______________ bank is often simply referred to as a “bank”.  It is a for-profit bank offering checking accounts, savings accounts, certificates of deposit, personal and business loans, and other, similar services. 

• Mortgage
• Investment
• Commercial
• Credit Union