Economics Ch. 8

Banks help you​ ​ (a)   your money and keep it ​ (b)  

• manage
• safe
• find
• grow
• deposit
• budget
• available

A savings account is for....

• investing your money

• regular spending

• long term savings goal

• entertainment

Which is an easy way to avoid ending up with errors in your checking account?

• only use cash

• keep all receipts

• monitor your account regularly

• budget often

Which agency insures your money in the bank?

• FDIC - Federal Deposit Insurance Corporation

• FRB - Federal Reserve Board

• Office of the Comptroller

• NYSE - New York Stock Exchange

The FDIC and NCUA insure your money in the bank for up to how much?

• $250

• $2,500

• $25,000

• $250,000

Credit Unions differ from retail banks in that they usually require membership.

• True

• False

Where should your emergency fund be located?

• checking account

• savings account

• money market account

• stocks

What does "pending" mean on your bank statement?

• you need to make a deposit before they will pay it

• payment was declined

• hasn't fully processed to your account yet

• is a fraudulent charge

Distrust, unemployment, and bank fees are a few excuses people give for....

• not making a budget

• not looking for work

• not having a savings acct

• not filing taxes

Which bank would be the best fit for you if you prefer great customer service and lower fees?

• small, local bank

• large, national bank

• just use check cashing stations

• keep jumping from bank to bank until you find one you like