Personal Finance--Money Help

What is the process of reviewing all of your deposits and withdrawals on your account statement and making sure everything is correct and in alignment with your personal records called?

• Financial management

• Balancing a checking account

• Budgeting

• Financial Analysis

A financial planner is a term used to apply to anyone who helps you manage your money.

• True

• False

Which of the following is NOT an app or software to help you manage your money?

• Mint

• Orange Grove

• Acorns

• Quicken

Truth-In-Lending Act (TILA) protects consumers against inaccurate and unfair credit billing and credit card practices.

• True

• False

Which of the following is FALSE?

• to open an account on your own you must be 21 or older

• Most banks require a minimum deposit to open an account

• Your bank may charge a fee for using another institution's ATM

• There are banks that are online only

Which type of account is one where you give permission to a qualified broker to buy and sell stocks, bonds, and other securities without that broker having to come to you for consent for each transaction?

• Savings Account

• Brokerage Account

• Discretionary Account

• IRA Account

Which of the following is NOT one of the steps to balancing a checking account?

• Writing the end balance as listed on the bank statement

• Look through every item on your statement and make sure it matches up with your personal records

• Add up all the deposits and withdrawals

• Verify your records with your accountant

Which type of account is designed to allow you to deposit and withdraw your money as needed?

• Checking Account

• Savings Account

• Investment account

• Discretionary account

Which organization came into being as a result of the run-on-the banks in the 1930s?

• FBI

• SEC

• CFPB

• FDIC

What are the benefits of opening a retirement account early?

• You develop a habit

• You can withdraw at any time without penalty

• You receive tax benefits

• You have time for your investments to recover from the ups and downs of the economy