JA Biz Town Financial Literacy

Which of the following are financial institutions? (more than one answer)

• bank

• library

• credit union

• museum

Which services is a bank likely to offer?

• balance

• savings account

• online banking

• net deposit

When depositing money into an account, it is important to:

• include your account number

• thank the teller

• swipe your credit card

• sign your deposit ticket

The amount left over from your paycheck after taxes and deductions is called:

• balance

• gross balance

• transaction

• net pay

You can continue to write checks as long as you have checks in your checkbook.

• True

• False

All bank transactions should be recorded in the register.

• True

• False

Credit cards and Debit cards are essentially the same thing.

• True

• False

Banks offer different kinds of accounts because:

• Different customers have different needs

• The want to get people's business

• Banks need to make money

• All of these are true

In regards to savings accounts:

• The higher the interest rate, the better.

• The longer the money is saved, the better.

• The more you add to your savings, the better.

• All of these are important to remember

A direct deposit is when you take your paycheck directly to the bank after you receive it.

• True

• False