WISE Banking

If a person makes a deposit of $10,000 or more into a bank account, the bank must notify the

• US Treasury Department.
• Federal Deposit Insurance Corporation. (FDIC).
• State Banking Commission.
• Federal Reserve Board.

Margaret wants to store a valuable coin collection and important papers. Generally, consumers should:

• Store valuables in a cabinet at home
• Rent a safe deposit box for their valuables
• Hand valuables over to their attorney
• Store valuables in locked drawer

Tags

CCSS.RI.5.2

CCSS.RI.8.2

CCSS.RL.11-12.2

CCSS.RL.3.1

CCSS.RL.3.2

A person is depositing $20 in cash and a check for $50. On the checking account deposit slip, the person should 
 

• include the reason that both cash and a check are being deposited.
• indicate what bank issued the check that is being deposited.
• indicate the amount of money that is currently in the checking account as well as in a savings account to cover the check.
• list the cash deposit separately from the check as well as the total of the deposit.
  

Tags

CCSS.2.OA.A.1

The National Credit Union Administration (NCUA) insures accounts in:

• Credit unions
• Commercial banks
• Brokerage firms
• Savings banks

The financial institution where Ms. Sanchez has her checking account will continue to pay out money for the checks she writes as long as:

• She uses checks from her checkbook
• The financial institution has sufficient funds
• There is enough money in Ms. Sanchezs account to cover the amount of the checks
• She maintains a good record of deposits and handles her account responsibly

Tags

CCSS.6.NS.C.7A

CCSS.6.NS.C.7B

Which financial product typically pays the highest rate of interest?

• Savings account
• Money market account
• Certificate of deposit
• Common stock
  

Doug wants to buy a car in two months, but does not have enough money. What is the best way for Doug to get the money he needs?

• Purchase a certificate of deposit
• Take out a cash loan
• Open a money market account
• Apply for a thirty year mortgage

A blank endorsement on a check:

• Has no effect on the check
• Cancels the check
• Creates a check that can be cashed by anyone
• Restricts the use of the check

What action should a person take who must make a tuition payment at the end of August each year?

• Decide how much money will be needed and then place 1/12th of that amount in a separate account each month.
• Divide the total amount of money that will be needed into 12 equal parts and invest that amount in stocks.
• Obtain a short- term collateralized loan for the needed amount of money.
• Plan to open a new credit card account that will be used to charge the needed amount of money.

Tags

CCSS.6.RP.A.3B

The phrase used for putting money into a savings account is:

• Verifying the account
• Balancing the account
• Making a deposit
• Making a withdrawal

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.9-10.4