Banking Review

Which organization insures your money in a bank account

• The FDIC

• The SEC

• State Farm

• The AAA

What does it mean to PYF (Pay yourself first)

• Invest 30% of each paycheck into the stock market

• Use 20% of each check to pay off bills

• Save 20% of each check before spending money on anything else

• Pay off your entire credit card bill each month

Which of the following has the LEAST Liquidity

• Cash

• Checking Account

• Savings Account

• House

• Retirement Account

Which of the following earns the most amount of interest?

• Principal Interest

• Simple Interest

• Compound Interest

• Mortgages

What is the major difference between a Credit Union and a Bank?

• Banks are for profit, credit unions are non-profit

• Banks are non-profit, credit unions are non-profit

• Banks have specific restrictions for membership

• Credit Unions are more expensive to join

Which of these Financial Institutions charges the highest interest.

• Banks

• Credit Unions

• Pay Day Lenders

• Walmart

Which organization insures Credit Unions?

• NCUA

• FDIC

• SEC

• AAA

What is one downside of using an ATM that isn't from your bank?

• You can't check your balances

• You are charged a fee

• You can only deposit money

• You can only withdraw money

Which of the following organizations lend money that are supposed to be paid back by your next paycheck?

• Bank

• Credit Union

• Title Loan

• Payday Loan

_______ allows your employer to put your paycheck directly in your bank account

• Direct Deposit

• Mobile Deposit

• Banking

• Unsecure Deposit