Transitional Living Final Exam Part 1

A credit card allows you to borrow money from a bank to make purchases.

• True

• False

Why do credit cards have a 3 digit CVV number?

• This is the account number

• It is the expiration date

• It is a security code to help prevent fraud

A bank account is how I invest in the stock market.

• True

• False

What is a Checking account?

• Easy access to money used for everyday spending and paying bills.

• It is used to hold your money for a future use. Helps you save for a special purchase.

• A place I go to check for the correct ansswers.

What is a Debit card?

• Borrow money from the bank to make purchases

• A plan on how to use money

• Money is immediately taken out of your account when you make a purchase

What are the two main types of credit cards?

• Target and JcPenney

• Visa and MasterCard

• American Express and Wells Fargo

What is interest?

• Something that you enjoy doing

• Form of identification needed to apply for a credit card

• Percentage of the money you owe the bank on top of what you borrowed

What is Functional Text?

• Reading about information in a reading passage and answering questions

• Gives you specific information and are common in our day to day lives

• Nonfiction writing written to inform the reading about a specific topic

List 2 examples of Functional Text

What is needed to open a bank account?

• Identification, Proof of Address, and an opening deposit

• Identification, Proof of Address, and a Credit Card

• Identification, opening deposit, and a co-signer