Unit 2 Personal Finances Test

A budget is 

• same thing as a savings account
• A sum of money to be used for a particular purpose.
• A list of things you want.

A debit card is…

• Like a credit card, but it takes money directly from your bank account.
• A card that lets you buy goods and services based on a promise to pay later.
• A card which you may only make online purchases with.

3. A credit card is...

• A card that lets you buy goods and services based on a promise to pay later.
• A card that charges monthly interest if the balance is not paid in full.
• Both

4. A checking account is...

• A sum of money to be used for a particular purpose.
• A share in a corporation that gives you a stake in the company and its profits.
• A bank account where the depositor can write checks.

5. A savings account is...

• A bank account where money is stored and returns a low interest rate.
• The same thing as a checking account.
• A bank account that allows you to borrow money at a rate of interest.

6. Blank is a check that is dishonored because of insufficient funds.

• Overdraft
• Statement
• Cleared Check
• Bad Check

7. Blank occurs when withdrawals have gone over the available amount.

• Overdraft
• Statement
• Cleared Check
• Check Register

8. Bad Check Blank is a check that has been honored and processed.

• Overdraft
• Statement
• Cleared Check
• Check Register

9. Blank is a record book used to keep track of all transactions.

• Overdraft
• Statement
• Cleared Check
• Check Register

10. Blank is a document published by your bank that details all transactions for the month.

• Overdraft
• Statement
• Cleared  Check
• Check Register