JUNIOR CYCLE BANKING QUIZ 2

Which of the following best describes a LOAN?

• Money borrowed that can be paid back if one feels like it.

• Money borrowed

• Money borrowed with the expectation of paying it back in a timely manner.

• Money gifted to someone with no expectation of payback.

Which Financial Institution is best described below: A not for profit members only institution known for their low interest loans.

• Bank

• Credit Union

• Savings & Loan

• Check Into Cash

If we decide to go to Top Golf over Spring Break, it would be considered a __________.

• Variable Expense
• Fixed Expense
• Discretionary Expense
• Income

When getting a loan for a car, the ____ is an additional fee you will have to pay back.

• Fixed Expense
• Discretionary Expense
• Inflation
• Interest

Most banks offer an app so you can log in to check how much money has been deposited, spent, and so you know your account _______.

• Withdraw
• Inflation
• Budget
• Balance

Number the bank gives you to keep track of your money

• bank

• banking account

• balance

• application

Form you fill out with personal and employment information.

• bank

• bank account

• balance

• application

Account that lets you save money

• minimum balance

• checking account

• interest

• savings account

A summary of all deposits, charges, and withdrawals sent to you monthly.

• endorse

• overdrawn

• debit card

• statement

Card that you use to pay for items and the money comes out of your checking account.

• endorse

• overdrawn

• debit card

• statement