W!SE Review Prep

Your bank deposits are insured up to ____________.

• $1,000,000,000

• $100,000

• $200,000

• $250,000

Who insures bank deposits?

• Federal Reserve

• FDIC

• NCUA

• SEC

The __________ insures credit union deposits.

• NCUA

• FDIC

• Federal Reserve

• SEC

The government agency that regulates banks and credit unions.

• Federal Reserve

• U.S. Treasury Department

• U.S. Mint

• Securities and Exchange Commission

If the Federal Reserve raises interest rates by 2%, it is practicing _____.

• monetary policy

• fiscal policy

• acceptable Use Policy

• corporate policy

If you deposit $10,000 in a bank, the bank must notify the _____.

• U.S. Treasury Department

• Federal Reserve

• Internal Revenue Service (IRS)

• FBI

Credit unions are owned by _____.

• members

• corporation

• government

• National Credit Union Association

The Securities and Exchange Commission (SEC) regulates ____.

• banks

• credit unions

• the sale of stocks and bonds

• the Federal Reserve

Putting money in a savings account before you pay any other expenses is known as _______________________.

• pay yourself first

• pay yourself last

• Investing

• using credit wisely

If you have assets worth $5,000 and liabilities worth $4,000, what is your net worth?

• $1,000

• $9,000

• $20,000

• $0