CMB_U4 L10-13 Review

Which is NOT a benefit of direct deposit? 

• Money is available as soon as your employer makes the transfer

• You do not need to drive to the bank to make a deposit

• You can plan when you are paying bills

• You can avoid having a hold placed on when funds are available

When accessing your credit card information online, you cannot _____. 

• see statements

• view the balance

• make purchases

• view the bill due dates

Your weekly realized income is $103.78. You have 75% of your pay direct-deposited. How much is given to YOU AS A CHECK per week?

Of the amount direct-deposited ($77.84), you have 50% placed into a savings account. How much is deposited in the saving account each MONTH?

This service alerts you when there is a change in your credit report.

• credit monitoring

• credit reporting

• credit score

• credit response

Financial software can do all of the following EXCEPT ____.

• keep track of expenses

• monitor your savings

• prepare your taxes

• apply for loans

The main goal of a personal budget is to have income be greater than expenses.

TRUE or FALSE

The maximum amount you should pay toward housing costs each month in relation to your realized income is _____. 

• 26%

• 28%

• 30%

• 36%

You want to begin saving at least 5 years before you retire.

TRUE or FALSE

Before signing a contract, you should _____.

(you can select more than one answer!)

• read the fine print

• ask to have time to review it

• have someone else look over the contract