Financial Education

A loan is

• a sum of money provided to an individual or organization in a single payment.

• a sum of money borrowed that is expected to be paid back with interest.

• an investment opportunity where individuals can invest their money and expect a return.

• a form of financial assistance where the borrower receives money or assets without the obligation to repay it

A ________ account is a type of bank account designed for individuals to securely deposit and store their money

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

What is a current account?

• is specifically designed for buying and selling securities such as stocks, bonds, or mutual funds

• is a form of borrowing that allows individuals to make purchases on credit

• a type of bank account that is designed for frequent and everyday banking transactions. I

• is typically used for long-term savings and earning interest

What is the meaning of withdraw?

• means to add money to a credit card balance

• means to transfer funds between different bank accounts

• means to deposit money into a bank account

• means to take out or remove funds or items from a bank account, financial institution

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

1. Mortgage: A mortgage is a loan provided by a financial institution, typically a bank, used to finance the purchase of a property, where the property itself serves as collateral for the loan.

• This definition is correct

• This definition is incorrect

An automatic payment service is a money transfer scheduled on a predetermined date to pay a recurring

bill.

• This definition is correct

• This definition is incorrect

What is a fee?

• A fee is a tax imposed by the government on income or goods

• is a payment or charge for a specific service, product, or privilege provided by a person, organization, or institution

• A fee is a penalty imposed for breaking a law or rule

• A fee is a reward given for exceptional performance or achievement

Tags

CCSS.RI.11-12.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.8.4

CCSS.RL.9-10.4

What is an insurance?

• A form of gambling where individuals bet on the occurrence of unfortunate events.

• It provides financial protection against potential losses or damages in exchange for regular premium payments.

• The act of ensuring that something will happen or be successful, regardless of any risks involved.