Checkings, Savings, Taxes Vocabulary

What is the purpose of automatic bill payment?

• To purchase stocks

• To apply for a loan

• To withdraw cash from the account

• To transfer funds to the appropriate companies

What does a bank statement report on?

• Real estate prices

• Cryptocurrency values

• Stock market trends

• Status of a bank account

What is a debit card used for? (Select all that apply)

• Online gaming

• ATM transactions

• Social media networking

• Day to day transactions

A joint account is when _____ or more people have an account together

• 1

• 2

• 3

• 4

What is the purpose of the Federal Deposit Insurance Corporation (FDIC)?

• To manage retirement funds

• To regulate the stock market

• To provide insurance for cars

• To help regulate banks and financial institutions

What is the purpose of a stop payment order?

• To tell the bank not to pay a certain check

• To increase the credit limit

• To request a loan

• To transfer funds to another account

What is the purpose of a balance sheet?

• To list a company's assets, liabilities, and owner's equity

• To report on stock market trends

• To track daily expenses

• To manage retirement funds

What is the purpose of a cash flow statement?

• To track daily expenses

• To report net wages and other income along with spending for a period

• To report on stock market trends

• To manage retirement funds

checks that have not been deducted from the bank statement balance.

• Outstanding check

• Traveler's check

• Annuity

• Tax credit

A digital reproduction of the original paper check

• Travelers check

• Depository institution

• Substitute Check

• Safe deposit box