Personal Finance Test

Getting control of what you spend or ______ wil prevent a downward spiral into debt that may take decades to overcome.

• Financing

• Budgeting

• Saving

• Applying for a loan

An orgnization that channels savings to investors?

• Non- Profit

• Commercial Bank

• FDIC

• Financial Organization

The most common and safest financial institution

• Credit Unions

• Investment Banks

• Commercial Banks

• Finance Companies

Financial institutions pay customers a percentage of the money that customers deposit into an account. The payment for keeping this money in an account is called?

• Interest

• Mutual funds

• Deposit

• Securities

An independent agency of the federal government who deal with insuring the money held in bank accounts.

• Stockholders

• Investment firms

• Shareholders

• FDIC

Not- for- profit banks that have been organized for a specific group of people

• Commercial Banks

• Finance Companies

• Credit Unions

• Investment Firms

These financial institutions make loans directly to consumers who want to pay for large items—such as vehicles or appliances?

• Life Insurance Companies

• Finance Companies

• Investment Firms

• Investment Banks

Having a savings account also improves your credit rating, which is vital if you want to ______ money in the future

• Borrow

• Deposit

• Invest

• Save

One question you should ask when opening an account is?

• How much can I deposit

• what are the fees

• how many customers have accounts here

• Do they have multiple locations

Proof of address is a ______ ______ or a utility bill with you name and address on it.

• home address

• phone number

• drivers license

• legal document