When do credit cards charge interest?

When you pay after the grace period

When you pay before the end of the grace period

If you pay your credit card bill late, your credit score will __________________.

sky rocket up then go down after 24 hours.

What is a credit union?

A financial institution that is non-profit.

A financial institution that is profit.

A financial institution that is online.

A financial institution that is only for credit cards.

If you pay your credit card bill late, you will pay ________.

for a large pizza for your teacher.

If you are in credit card debt, you should __________.

cut up the cards and stop spending on credit.

Money market definition.

A savings account that pays higher interest rates.

A checking account that pays lower interest rates.

A checking account that pays higher interest rates.

A savings account that pays lower interest rates.

What is the definition of a Financial Institution?

The business of providing financial services to customers.

The business of providing youth services to customers.

The union of providing financial services to customers.

The business of providing financial services to dogs.

What is an online bank?

A bank that only exists on the Internet.

A bank that doesn't exist on the Internet.

A credit that only exists on the Internet.

A debit that only exists on the Internet.

What is how a bank makes its profit?

Charging borrowers a higher interest rate than the interest rate paid to depositors.

Charging borrowers a lower interest rate than the interest rate paid to depositors.

Charging lenders a higher interest rate than the interest rate paid to depositors.

Charging lenders a lower interest rate than the interest rate paid to depositors.

What is the minimum balance requirement?

A depositor has to keep a certain amount of money in an account.

A lender has to keep a certain amount of credit in an account.

A depositor has to keep a certain amount of credit in an account.

A lender has to keep a certain amount of money in an account.

If an asset is difficult to turn in to cold, hard cash.

If a liquid is difficult to turn in to cold, hard cash.

If an asset is difficult to turn in to cold, hard credit.

If an liquid is difficult to turn in to cold, hard cash.

Something you own that has value.

Something you rented that has value.

Something you own that has sentimental value.

Something you borrow that has value.

Term QUIZ Review #2

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53 questions

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MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one example of a Credit Union?

Chase

SchoolsFirst

Maximize Profits

ING Direct

MULTIPLE CHOICE QUESTION

1 min • 3 pts

What is an early withdrawal fee?

The bank will charge this if you take your money out of a CD after the term is over.

The bank will charge this if you take your money out of a CD before the term is over.

The FDIC will charge this if you take your money out of a CD before the term is over.

The FDIC will charge this if you take your money out of a CD after the term is over.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who created the FDIC?

U.S. Senate

Federal Government

The Vice President

Rhianna right after the Super Bowl

MULTIPLE CHOICE QUESTION

1 min • 2 pts

This account type rarely pays interest.

savings account

checking account

Debit Card

MULTIPLE CHOICE QUESTION

1 min • 2 pts

Liquidity Examples...

Stocks

Real Estate

Coin Collection

Antiques

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is one example of a Retail Bank?

ING Direct

Chase

Ally Bank

SchoolsFirst

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which institution offers CDs?

Retail Banks

Online Banks

Credit Unions

All of the above

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Term QUIZ Review #2

What is one example of a Credit Union?

What is an early withdrawal fee?

Who created the FDIC?

This account type rarely pays interest.

Liquidity Examples...

What is one example of a Retail Bank?

Which institution offers CDs?

What institution requires membership before being able to join...

An Online Bank is a non-profit bank.

If you don't have enough money in your bank account, your debit card will ___________.

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