Exam Review Fall 2022

Which of the following is NOT a common payment method listed in chapter 5?

• Cash

• Check

• Credit Card

• Loan Sharks

Which of the following is NOT a common mistake of cash management?

• Overspending

• Impulse purchases

• Increased Savings

• Using savings to make purchases

A _______ __________ is an account that provides safe storage for funds for future needs having restrictions on when funds can be withdrawn.

• Time Deposit

• Demand Deposit

• Credit Card

• Payday Loan

What does ATM stand for?

• Automatic Transaction Machine

• Automatic Teller Machine

• Always Taking Money

• Automatic Transaction Man

What type of account is a debit card linked to?

• Credit

• Savings

• Checking

• Certificate of Deposit

Taking money out of a bank account

• Deposit

• Withdrawal

• Credit

• Transfer

Putting money into a bank account

• Deposit

• Withdrawal

• Credit

• Transfer

Financial institutions that operate as a for profit business

• Mutual Savings Bank

• S&L Associations

• Credit Union

• Banks

Financial institutions that are user owned, and non profit

• Mutual Savings Bank

• S&L Associations

• Credit Union

• Banks

Mortgage Companies specialize in providing loans for _________

• Cars

• Houses

• Retail needs

• Businesses