Chapter 8 (P. Finance) Financial Services

A bank can help you _________ your money and keep it _______.

• Manage; safe

• Find; growing

• Deposit; budgeted

• Budget; available

A savings account is for _________.

• Investing your money

• Regular spending

• Long-term savings goals

• The Entertainment budget line item

The Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) keep your money in the bank insured up to _______ per account.

• $250

• $2500

• $250,000

• $25,000

Credit Unions differ from retail banks in that they typically require membership based on specific criteria.

• True

• False

Your emergency fund should go in your checking account, NOT a money market account.

• True

• False

If you see "pending" on an account charge, that means...

• You need to make a deposit before it is paid

• The payment was declined

• It hasn't been fully processed yet

• It is suspected of being a fraudulent charge

If you see a charge you don't recognize, you should report it to your bank immediately.

• True

• False

A debit card

ATM access

payroll direct deposit

and

checks

are basic features of __________.

• A money market account

• Online banking

• A savings account

• A checking account

With certificates of deposit (CDs), you have to pay a penalty for ________.

• Withdrawing your money early

• Depositing money into the account

• Using an ATM

You should avoid any bank service that leads to.....

• Multiple checking accounts

• Savings

• Debt

• Gaining interest