Financial Literacy Check Up 1

(6.14B) Julio paid $35.92 for gasoline with his debit card. Which of the following is an accurate description of Julio's transaction?

• Julio's payment will affect his credit rating.

• Julio might be charged interest for his purchase.

• Julio's linked account will immediately have $35.92 removed.

• Julio will make payment for his purchase when he receives his monthly statement.

a bankcard linked to an individual’s checking account

• debit card

• credit card

Mrs. Brown sold some of her son's old toys and earned $56. She went to the bank and added the money to her account. She made a _________________ to her account.

• deposit

• withdrawal

• debit

• deduction

Mrs. Sicola was going on a vacation. She took some money out of her account to pay for her trip. She made a _______________ from her bank account.

• deposit

• withdrawal

• debit

All bank transactions should be recorded in the register

• True
• False

Credit cards and debit cards are the same thing.

• True

• False

The action of taking money from one account and moving it to another account.

• withdrawal

• deposit

• transfer

• writing a check

Which bank is better for me? I pay for lunch 20 times a month with my debit card. I do not write checks or use the ATM.

• State Bank

• Bank of Texas

What was the balance of the account at the end of the day on 7/24?

• 4720.33

• 4320.03

• 5091.15

• 4500.75

Requires a Personal Identification Number (PIN) to authorize many purchases

• Credit

• Debit