Final

Money added to a checking account is called a

• withdrawal

• deposit

• endorsement

• drawee

Approximately how often does a financial institution send a bank statement through the mail?

• yearly

• weekly

• quarterly

• monthly

To put money $$ in the bank, is called:

• WITHDRAWAL
• DEPOSIT
• INVEST
• WRITE A CHECK

To take money OUT of your account, is called:

• WITHDRAWAL
• DEPOSIT
• TRUST
• STEAL

Always use permanent ink when writing a check.

• True

• False

How is wealth defined?

• How much money you have in your Checking and Saving accounts
• Debts - Assets
• All assets, including money in the bank + retirment
• Assets - Debts

Which is NOT a typical goal for a savings account?

• To create an emergency fund
• To pay for higher education
• To save for a new car
• To buy groceries for this week

What is a reason for why so many Americans live paycheck-to-paycheck?

• Many people are paying themselves first and then spending

• Many people only buy what they NEED, not what they WANT

• Many people impulse shop

• Many people spend within their budget

You earn _______________ by saving money in a savings account.

• money

• interest

• awards

• trophies

An account that pays interest on a specific sum of money that a person has deposited for a specific period of time. If withdrawn before that time,the bank imposes a penalty fee.

• Savings Account
• Certificate of Deposit (CD)
• Checking Account
• Money Market Account