Financial Literacy Quiz Key Terms (Lesson 7)

The Pearland Independent School District partnered with a

• Bank

• Credit Union

• Financial institution

• Stock brokerage

Clayton and Tucker secured loans from Young American Bank, but they were charged different rates of

• Interest

• Principal

• Mortgage

• Equity

Nathan, a ballroom dancing kid, takes his portion of the money and puts it in his

• Savings account

• Checking account

• Money market account

• Certificate of deposit

Polina prefers to use a

• Debit card

• Credit card

• Prepaid card

• Gift card

If you write a check for more money than you have in your account, you will be charged a

• Overdraft

• Bounced check

• Penalty

• Surcharge

In order to use a, you have to qualify to become a member, but you also own part of the institution

• Credit union

• Bank

• Brokerage firm

• Payday lender

You your money when you loan it to someone else to be paid back with interest

• Invest

• Spend

• Save

• Donate

The government organization responsible for the money supply and for interest rates is called the

• Federal Reserve

• Treasury Department

• Securities and Exchange Commission

• Commodity Futures Trading Commission

The is the government organization that insures money you deposit in a bank or credit union account up to $250,000.

• FDIC

• NCUA

• SEC

• FINRA