Banking

The FDIC insures accounts up to...

• $250

• $2,500

• $25,000

• $250,000

An annual percentage yield represents...

• The amount of money your stocks have lost

• The amount of money your stocks have gained

• The interest that has been earned on compounded deposits

• The interest that has been lost on compounded deposits

A certificate of deposit...

• Is a certificate that verifies your deposit

• Is a certificate that verifies your bank information

• Is a deposit that does not earn interest over a term

• Is a deposit that earns interest over a term

DEFINE interest.

• Money paid at a rate for money lent, delaying repayment

• Money paid for paying a debt in a timely manner

• Money paid for investment success

• Money paid for investment failure

DEFINE principle.

• A person who runs a school building

• The initial money that is deposited

• The money earned on an investment

• The money spent after a failed investment

Select all of the services most commonly provided by banks.

• Borrowing Services

• Savings Accounts

• Payment Services

• Brokerage Accounts

Recall what sets Credit Unions apart from commercial banks. (Pick all that apply.)

• Credit Unions are owned by their members

• Credit Unions offer more free services

• Credit Unions are not profit focused

• Credit Unions belong to the Federal Reserve

Define maturity date.

• The date when banks must report their profits

• The amount of time during which you can't withdraw an investment

• The date when an investment/debt becomes due.

• The date when you debts accumulate interest

Define term.

• The date when banks must report their profits

• The amount of time during which you can't withdraw an investment

• The date when an investment/debt becomes due.

• The date when you debts accumulate interest

Name the savings plan that is exempt from state and local taxes.

• Money Market Accounts

• Certificates of Deposit

• US Savings Bonds