Financial Literacy

What is a machine that allows bank customers to deposit or withdraw money without visiting their bank?

• ATM (automated teller machine)
• Safe deposit box
• Credit card
• Certificate of deposit (CD)

What is a card that allows the holder to buy goods and services by taking out a bank loan?

• Credit card
• Debit card
• Credit union
• Loan

What is a card that allows customers to electronically and immediately withdraw funds from their accounts, either in cash or to purchase goods or services?

• Credit card
• Debit card
• ATM (automated teller machine)
• Check

What is money borrowed that must be repaid, usually with interest?

• Loan
• Check
• Checking account
• Debit card

money subtracted from an account

• withdrawal
• deposit
• transfer
• balance

money owed

• balance
• overdraft fee
• loan
• debt

What do we call the amount left over from your paycheck after taxes and deductions?

• balance
• gross balance
• transaction
• net pay

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

• True
• False

Credit cards and debit cards are essentially the same thing.

• True
• False

The lower the interest rate, the better.

• True
• False