Money Moves (Everfi) Lesson one

What is an account balance?

• The amount of money you have in an account.

• The fees you must pay to have an account.

• An action you take to protect your savings.

• A type of account offered by a financial institution.

An account balance shows _______.

• how much money you need to open an account.

• how different accounts at a financial institution can be connected.

• if you are eligible to open an account.

• the amount of money that you have in an account.

What service does a financial instiution offer to help you track your money?

• Interest payments

• checks

• safe deposit boxes

• account balances

What is a transaction that has not been processed yet by a financial institution?

• an overdraft transaction

• an annual transaction

• a pending transaction

• an insured transaction

What is a pending transaction?

• A transaction done digitally or at an ATM (not in person)

• Another name for an overdraft fee

• A transaction that is a withdrawal

• A transaction that has not been processedd yet

Why would you possibly not be able to use a check that you just deposited in a checking account?

• The deposit is still pending

• The deposit has been overdrafted

• The FDIC/NCUA has not insured it yet

• The finanical institution is closed for the day

Which balance shows the amount of money you can use now?

• Current Balance

• Available Balance

• Pending balance

• Checking balance

Which account balance includes pending transactions?

• available balance

• current balance

• raw balance

• interest balance

Why do current and available balances sometimes show different amounts of money in the same account?

• Current balances subtract pending transactions from the available balance

• Available balances include earned interest

• Current balances include earned interest

• Available balances subtract pending transactions from the current balance.

What is it called when someone doesn't have enought money in an account to cover a charge?

• compound interest

• pending charge

• insufficient funds

• negative balance